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135 | Why Was Budgeting Easier When You Made Less Money?
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Why was it easier to budget when you made less money?
When you were barely making enough to get by, you were really good at budget - but you also created an invisible scarcity mindset around your finances. Food, water, and shelter were the most important things to you. Once you start earning more, that feeling of scarcity doesn’t just go away. Everyone has deep-seated emotions about money, and for many, spending fills a void and so the budgeting conversation has to shift when you go from making $30,000 to $100,000 to $200,000.
In today’s episode, I discuss the complexities of high-income budgeting. From understanding different types of spending needs to learning what to do with extra money after the bills are paid, I encourage you to take a different approach to managing your finances so you can let go of the scarcity mentality and shame, and start aligning your budget with your goals and have more money for what you want.
Tune in now to explore why it is more challenging to budget as you make more money and learn:
[01:30] Why budgeting was easier when you made less money.
[04:42] Why more money = more comfort
[07:36] Basic needs vs. emotional needs
[11:54] What to do with “extra” money
[16:30] Why your goals should anchor your budget
Tune into this episode of Money Files to learn why it is more challenging to budget when you make more money and how to overcome a scarcity mindset.
Get full show notes and the episode transcript:
https://wealthovernow.com/why-was-budgeting-easier-when-you-made-less-money/
Links mentioned in this episode…
Set up a call | Financial Coach Washington, DC | Wealth Over Now
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