Setting Boundaries with Your Money
Dreaming Big, Prioritizing, and Spending Wisely!
Do you feel like you make a good salary but wonder where all of your money goes?
Are you scared of what the total will be when you get to the cashier at the grocery store?Is your partner on the same page as you with money dreams and goals?
Did you know that money fights and money problems are the leading cause of divorce in America?
Setting boundaries around your money can actually give you freedom and relief from many of these burdens. About 10 years ago, Mike and I made a decision that changed our marriage and our lives. We signed up for the Financial Peace course taught by Dave Ramsey. No, we weren't in real financial trouble and we didn't have major marriage issues--we were just normal. Struggling to get by with our money each month, drowning in debt, and not communicating well about any of it.
Now, I'm not going to tell you that we're financially free or never have disagreements about where/how to spend our money, but we have a plan and we have the tools we need to talk about money and get on the same page.
Whether you are married or single, you need a plan and to set boundaries around your money.
Setting Boundaries Around Your Money is IMPORTANT!!
Here's just a small list of what it can do for you:
Builds stronger relationships
Gives space for your dreams
Recognizes priorities
Allows you the opportunity to bless others
Gives you a sense of control and power
The tools you can use to help set boundaries with money...
Budget
This is simply defining your fence. It's "telling your money where to go instead of wondering where it went."
It's making a plan BEFORE THE MONTH begins about where you're going to spend Every Dollar that you make.
Cash
When you use cash for certain line items in your budget, it can make a huge difference in the amount of money that you spend. People spend 12-18% more money when they use cards instead of cash. Here are the line items I recommend you use cash: Groceries, Clothes, Entertainment, and Blow money (this means your extra money for little expenses like coffee, snacks, and small items).
The real reward...
Yes, when you learn to set boundaries with your money you will feel like you have more money. But why do you want that? When we are diligent with the gifts that God gives us, the proverb tells us we'll be rich. Rich in money? Maybe so, but, more importantly, you'll be rich in happiness, contentment, blessings, and dreams.
Priorities
Money leaves a trail. When we see how we spend it, we're shown where our priorities truly lie. What is your money showing as a priority? Do you like that or do you want to make a different choice?
Dreams
Almost all of our dreams take money in one form or another. How are you lining up your finances to help make your dreams come true? Saving for kid's college, retirement, dream vacations, etc.
Blessings
Money and time are real and substantial ways that you can bless others. Are you able to give as much of your time and money to your favorite charities as you would like?
Many of my clients have found that finances can either be a stumbling block or a stepping stone when it comes to taking the desired steps to reach their goals. Take a moment to reflect on your boundaries around money. Is there a place that you need to tighten up? Would a monthly budget help you?
I'd love to help you identify the places where you'd like to set boundaries. Let's set up a free consultation to see how private coaching can help you!
Read More About Boundaries Here:
Boundaries: How to Say Yes to the Things That Matter and No to the Things That Don'tBoundaries: How Your Calendar Can Help Keep You on Track