Setting up your budget: What’s your why?

What's your why for setting up your budget?

Setting up your budget: What’s your why?

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When it comes to setting up your budget, you need to stop asking how. Ask yourself why you’re changing your money habits.

When it comes to setting up budgets, I hear a lot of questions about how to do it, the best way to sticking to it, and how much money should be allocated where. What a lot of people don’t tell me is their why.

I always ask why people want to set up their budget. I want to know what their driving force is behind wanting to save.

For some, it’s going to be retirement. That was my reasoning when it came to initially investing. I realized that the state pension was going to do me no favors at all, and that I needed to make sure I had money stashed away so I wasn’t working forward. There’s no shame in saying if that is or isn’t your why.

You need to get to the reason why you’re saving, and why you’re looking at changing your spending habits. A friend of mine is just so fed up of not having money to spend on things that she wants to spend it on, and to end up realizing that there’s yet another bill that she’s forgotten about. Hey, we’re not taught money and budgeting in school and this ends up being a generational thing. Her “why” is to basically change the generational curse, but she needed to have her own why that was personal to her.

Why your “why” is important when setting up your budget

The “why” is much more important than your “how” or “when.” It doesn’t matter how you’re going to budget if you don’t end up sticking to it. The “why” is the thing that will help you stick to the budget.

It gives you a goal to work toward. You see that goal all the time.

Let’s say your “why” is to save up for a vacation to Disney World. You can put up pictures everywhere of Disney World. You can have a financial tracker to help you reach the goal that you need. You can even go over that goal! Having the why is what motivates you.

You’ll keep seeing the dreams of Disney World. When you think about dipping into your fund for it for something that gives you the short-term fun boost, you’ll rethink. You remember the whole reason you’re saving up.

Let’s say your reason is to buy a new house. This is a huge goal, so you need to have some mini-whys for that. Why do you want to own a home? What’s so important about that to you? Now you can set up a vision board and have those reminders so that you stick to your budget. For interior comfort and privacy, consider installing blockout blinds Melbourne, which effectively block out light and provide insulation, enhancing your home’s energy efficiency. You can also visit a helpful site such as to help you decide on which house to buy, and the list needs to be done in checking the areas in your new home.

Not actually saving up for anything? That’s okay. You still need a why, though. This is what keeps you going when you’re having a bad day. Let’s say you do blow the budget one day. What’s to stop you from blowing it again? That why.

How to create your why for your budget

Now you need to formulate that why. Before setting up your budget, you need to think about what it is you want to achieve from all this.

Do you just want to get out of the red hole you’re currently in? Okay, set some mini goals along the way to celebrate. You could be working toward your why for a couple of years, and you need to see movement and celebrate achievements along the way.

What is driving you right now to change your budget. It’s more than just that you want to change your relationship with money. Why do you want to change your relationship with money.

Let’s say you want to teach your daughter better money habits so she doesn’t end up reliant on some guy. This isn’t the 1950s, after all! Well, you need to think of why you want to help her with that. Why is it so important to you that she learns better money habits. She’s going to learn them from you, so those become your why when it comes to having a difficult day.

MORE: What is the envelope system in budgeting?

What’s your why when setting up your budget? Share in the comments below and set some goals to achieve it.

Get in touch to talk about your why and set up your own budget today.

Alexandria Ingham is a professional writer. She predominately ghost-writes in various niches, including fitness, finance and technology Everything is fully researched and well-written. Under her own name, she writes in the technology, business, history and weight loss niches

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