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Restrained (or Relieved) by a Budget?

  • Writer: Cindy Wysong
    Cindy Wysong
  • 4 days ago
  • 2 min read

Contributed by: Cindy Wysong, CFP®

budget

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Last night at dinner, one of my friends shared that she had recently created a budget for herself. Not because she had to, but because she wanted to be more intentional with her spending.  And while she was a bit shocked at how quickly her expenses added up, her biggest surprise?  Instead of feeling restricted, being on a budget actually made her feel more free.   


As she was describing this newfound freedom, I was smiling and nodding because I’ve experienced this myself and from clients that I help.  Let me explain.


“Decision fatigue” is real and it’s exactly what it sounds like.  This is a term used to describe the emotional exhaustion we can feel when faced with too many decisions.  When you become tired or overwhelmed from making decisions throughout the day, you can begin to shut down. . .or start to make poor decisions.


For example, when we consumers make a purchase, there is a medley of decisions to be made. Some can be made quickly while others are painstakingly slow.  According to Google, the average adult makes 35,000 decisions a day.  35,000!  Every time I pause in the Costco aisle to look at something cute or every time I mindlessly scroll on Amazon, a decision – or several decisions – must be made.  “Should I put it in the Amazon cart?  Should I look for something better?  Should I buy it?  Oh, do I need bananas, too?”  (I didn’t even know that I might need bananas, yet here I am.  Faced with a decision Amazon has forced upon me in order to proceed to my cart!)  You get the picture.  Our lives are inundated with decisions.


And it’s not just shopping.  We spend our days making countless decisions, from what to eat for lunch to how to spend our free time.  Then there are the truly significant decisions that can carry emotional weight.  


Eventually we get tired of making decisions.  We feel exhausted.


So, when my friend gave herself a budget, she removed a whole lot of unnecessary decision-making from her life.  Stick to the grocery list and walk out the door.

 

By giving herself a budget, my friend wasn’t taking options away.  She was creating boundaries that simplified her life.  Fewer unnecessary decisions.  Less mental clutter.  More money in the bank.  That’s a pretty great trade-off.


Sometimes freedom isn’t found in having more choices.  Sometimes it’s found in having fewer.


 

Cindy Wysong is a Partner and Wealth Advisor at BCWM, LLC.

To contact Cindy:

Telephone: (913) 685-2300

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