KEY TAKEAWAY: While many may view a “budget” as being restrictive, a Money Plan is a power tool that supports your financial empowerment and freedom. It helps you use your financial resources strategically, avoid the financial shackles and stress that can be created when you live beyond your means, and work intentionally toward the financial goals that support your life goals. Scroll down to watch the video on why and how to create your Money Plan.

Hello, I hope you all had an amazing week (and Thanksgiving for those of you in the U.S.)!

Holidays are wonderful, but financial stress can come with them because they aren’t exactly free.

(Yes, of course, the spirit of the holiday, whatever it may be, is something we can tap into without any financial incentive or obligation, but there is often, for many occasions, an added financial component, as well).

For example, Thanksgiving, which we just had in the U.S.. Whether it’s the cost of food, travel, or both, the holiday, however much it may lighten our spirits, may weigh on our wallets.

And then there are all the other celebratory occasions – holidays, birthdays, anniversaries, etc. – that can mean spending more money than we usually do.

It can be easy to find ourselves taking a financial step backward when such occasions come around, on top of other unexpected expenses that may pop up.

One of the most powerful tools we can use to manage such occasions and life-driven expenses in general is to have a Money Plan. Normally referred to a budget, I find that term negative and restrictive and prefer Money Plan instead. The reason is this and it’s something I stress in all my financial education talks and work:

A budget can feel like a punishment, like a financial die with a “t.” However, when we shift our mindset to embrace the term “Money Plan” and what it represents, we can go from feeling restricted to gaining a sense of freedom.

That is because a Money Plan means that we recognize the financial resources that we have, the value of those resources, and the value of using them in a way that aligns with what we want. Instead of punishing ourselves, we are empowering ourselves because we are taking control of our financial present and future and being strategic about how we use our money.

I wrote about this back in July but wanted to revisit it and share a video I recently did on this topic. 
You can watch it here: Money Plan Video (direct link: https://youtu.be/OHO6tr-asEI)

Money Plan Video: https://youtu.be/OHO6tr-asEI 

IMPORTANT: The information provided is for educational and informational purposes only. It is not intended to be a substitute for professional advice, diagnosis, or treatment. Always seek the advice of a qualified professional with any questions you may have regarding the topics discussed here as the topics discussed are based on general principles and may not be applicable to every individual. 

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