The Overflow Episode: Escaping the Budget Comparison Trap
- liveyourmoneystyle
- 4 minutes ago
- 2 min read
In this Overflow episode we get more into being realistic with creating a budget for the life you want to live while limiting how we compare our lives to what we see on the internet.
Your budget is the foundation and game plan for every dollar of your income. Building a budget allows you to plan for how you want to spend, save, and invest your income.Â
A key thing to remember is that everyone around you in your life or people you see online, won’t have the same responsibilities as you when it comes to money. You never know what someone else’s circumstances are so the best thing to do is to remember that you’re planning for your financial future.
Key things to remember:
While we preach making money a common topic that shouldn’t be hard to approach, we understand that it can be awkward to discuss with others
There’s no right way to budgeting and everyone should build one that works for their current lifestyle while also setting them up for future success
It’s easy to look at social media and compare your situation with strangers you see online, however you don’t know their full back story
You might not even know your friend’s financial circumstance
Everyone has different fiscal responsibilities, and some might be getting help from family members in some areas
When creating YOUR budget think about your circumstances and how you can fit everything you want in your life into that
If travelling isn’t your thing then don’t feel like you need to book a luxury vacation to post on social media
Think about your short term, mid term and long term goals when creating the budget that fits your lifestyle
It’s okay to adjust your budget as your life changes!
Try to remember that your budget doesn’t have to look like your friends or strangers on the internet! Make it personal to you, so you can set yourself up for success!
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