I can’t stand the term “Spending Plan”.
It just makes me crazy, like really, really crazy. Crazy enough to make me want to launch computer monitors off really tall buildings. Although that sounds like loads of fun, I’m not a violent person.
The term just stinks of avoidance. I see it as a way out, an excuse for those who run screaming like frightened children from the word “Budget”.
Budget, Budget, Budget, Budget, Budget, Budget, Budget, Budget, B-U-D-G-E-T!!
Get used to it folks, the word’s not going away and it’s a staple in your daily monetary diet. For anyone that wants to be or wants to stay successful in their relationship with money, a budget is a requirement.
Why do I feel this way?
Well, I’ve noticed a prevalance of the term “spending plan” in books, TV shows, etc. I suppose it’s some new agey form of the word budget to make all you wusses feel better about how much money you spend. Again, let me repeat – AVOIDANCE. You can’t avoid reality by sugar coating it with a fancy word or phrase. You need to make peace with your money and accept that a budget will always be in life. Heck, when I reach millionaire status, I’m still going to use a budget. I’m sure it’s why MC Hammer went broke, he forgot to use a budget.
The Term Spending Plan and its Cringe Worthiness
What do you think of when you hear Spending Plan? Go ahead, think about it, I’ll wait.
Still waiting. Take some more time if you need it.
Got it? Are we good? Mental picture formed? Now, let’s pretend you’re a shopaholic that buys lots and lots of clothes. Ahem. I know how that feels.
What does spending plan and shopaholic make you think of? How do you feel?
If you’re like me, and a reforming shopaholic on a no clothing spend, the term spending plan feels and sounds like a free ticket to run wild in your nearest J.Crew, Zara, or BCBG. All I get are feelings of “Hey, let’s go shopping and spend loads of money on whatever I WANT.” *Cringe*
Not good in my opinion.
For the lovers of Spending Plans and the haters of Budgets…Budget vs Spending Plan
So you’re mad at me now. I’ve raved at how much I despise the term “spending plan” and you’re all like, Michelle, you’re such a meanie. What’s wrong with you? Some of us like positive light in our day and “Spending Plan” make us feel all warm, fuzzy and touchy feely.
You can still be a shining ray of positive loving light about your budget, you just need to remember a budget is not a bad thing, it’s a good thing. It is designed to be a framework to keep your WANTS from outweighing your NEEDS. Oh now I get it, you’ve got a big WANT monster that hates budgets…I see how it is.
Well, feel free to blame the French…
“A budget (derived from old French word bougette, purse) is a quantified financial plan for a forthcoming accounting period.”
Want further proof that you shouldn’t be afraid of the word budget?
“There are notable success stories of individuals that have stuck strongly to their personalized budgets and ended up being remarkable stories of early retirement before they even reach their 40’s, while the average american retires in their 60’s- 1. The “Mr.Money Mustache” blogger Pete Aedeny and his wife, retired when they were 30- 2, while Akasha and Billy Kaderli retired when they were both 38 -3, both truly exceptional examples of discipline, great strategy and even good timing.”
- Riffkin, Rebecca. “Average U.S. Retirement Age Rises to 62.” Average U.S. Retirement Age Rises to 62. Gallup. Web. 24 Mar. 2015. <http://www.gallup.com/poll/168707/average-retirement-age-rises.aspx>.
- Johnson, Kelly. “Meet Mr. Money Mustache, the Man Who Retired at 30.” Washington Post. The Washington Post, 26 Apr. 2013. Web. 24 Mar. 2015. <http://www.washingtonpost.com/business/meet-mr-money-mustache-the-man-who-retired-at-30/2013/04/26/71e3e6a8-acf3-11e2-a8b9-2a63d75b5html>.
- Brokamp, Robert. “Extreme Early Retirement in Practice: How Two People Did It.” Get Rich Slowly. Getrichslowly.org, 15 Aug. 2011. Web. 24 Mar. 2015. <http://www.getrichslowly.org/blog/2011/08/11/extreme-early-retirement-in-practice-how-two-people-did-it/>.
Quotes and references from Wikipedia – Budget
I don’t know about you but that’s enough proof (or rum) in the pudding for my liking, so, I’m sticking with the word budget.