Why You Don't Need A Big Income To Start A Budget

Ep: #2 - One of the things that I always hear is, "When I make enough money then I will start a budget." It is possible to start and live on a budget on any income. In this episode, I share three ways on how you can stop believing this myth and make your budget work for you. 

In today’s episode, we’re talking about a mindset obstacle that keeps people from reaching their financial goals.  

That is that you need a big income before you can start budgeting. 

We believed this lie for so long. I had actually started researching how to budget and how to get out of debt way before we started our debt-free journey. But I kept telling myself that we didn’t have any money left over at the end of the month and a budget would only work if we had a bigger income. 

The truth is that budgeting works on any income and here is why. When we started budgeting, we were a two-person income household but we didn’t have a lot of extra money left over to spend after we paid our monthly bills. In fact, my idea of a budget was making sure all the bills were paid and none of those bills were going into overdraft. 

But once I started writing down everything we were spending, I realized that the small $5 and $10 daily purchases were the reason why I didn’t have any money. The problem wasn’t our income at all, it was the fact that we were spending way above our means. 

So here are three ways that we changed our mindset and realized that a budget could work for us.