How to create a budget — just don’t


If you’re looking to create a budget — pause. While budgeting can have its merits, it’s not the be-all and end-all for everyone. Let’s dive into how budgets can actually encourage a scarcity mindset, while becoming a major time suck. But fear not, because I’m here to introduce you to a more sustainable approach — cultivating mindful spending habits.

Why you shouldn’t waste time creating a budget

Budgeting, as traditionally practiced, involves setting specific spending limits for various categories and meticulously tracking every dollar that enters and exits your accounts. It’s touted as a surefire way to take control of your finances, but let’s explore why it may not be the best fit for everyone.

Encouraging a Scarcity Mindset

One of the primary drawbacks of budgeting is that it can foster a scarcity mindset. By constantly scrutinizing and restricting your spending, you may start to view money as a finite resource, leading to feelings of deprivation and anxiety about running out of dough. This scarcity mentality can negatively impact your relationship with money, making you hesitant to invest in experiences or opportunities that could enrich your life.

Time-Intensive Nature

Budgeting can be incredibly time-consuming. From tracking every receipt to categorizing expenses, it demands a significant investment of your time and energy. This level of detail might be unsustainable for those with busy lives, leaving them feeling overwhelmed and discouraged.

A survey conducted by the National Endowment for Financial Education (NEFE) revealed that of respondents who had abandoned a budget in the past, 63% cited the process as too time-consuming or overwhelming.

Guilt and Shame When You Stray

Let’s be real — nobody’s perfect. When you inevitably stray from your budget (and trust me, it happens to the best of us), it can trigger feelings of guilt and shame. This emotional rollercoaster can lead to a defeatist attitude, causing you to abandon budgeting altogether.

In fact, a study by found that approximately 73.6% of Americans have broken their budget at some point. This indicates that a substantial majority of individuals struggle with adhering to their budgetary constraints.

Enter Mindful Spending (the better alternative to creating a budget)

So, if traditional budgeting isn’t the answer, what is? Allow me to introduce you to the concept of mindful spending. Mindful spending is all about making conscious, intentional choices with your money based on your values and priorities. It’s about developing a healthier and more sustainable relationship with your finances.

Here’s why cultivating mindful spending habits is the best long-term solution:

Focuses on Values, Not Restrictions

Mindful spending shifts the focus from restriction to alignment with your values. Instead of setting rigid spending limits, you identify what truly matters to you. You allocate your money to the things that bring you joy, fulfillment, and align with your long-term goals.

Less Time, More Freedom

Unlike budgeting, mindful spending is not a time-intensive process. It doesn’t require you to track every single expense meticulously. Instead, it encourages periodic check-ins to ensure your spending aligns with your values. This frees up your time for other meaningful pursuits.

Embraces Flexibility

Mindful spending understands that life is dynamic. It allows you the flexibility to adjust your spending as your circumstances change. You won’t be bound by rigid categories or arbitrary limits, making it easier to adapt to unexpected events or opportunities.

Promotes Financial Well-Being

By prioritizing your values and long-term goals, mindful spending promotes financial well-being. It encourages you to invest in experiences, education, and opportunities that contribute to your personal growth and happiness. This proactive approach can lead to a more fulfilling and balanced life.

How to Cultivate Mindful Spending Without Creating a Budget

Ready to embrace mindful spending and ditch the budget template? Let’s break it down into actionable steps:

1. Define Your Values and Priorities

Start by identifying your core values and financial priorities. What matters most to you? Is it travel, education, family, or personal growth? Knowing your values helps you direct your money towards what truly brings you joy.

2. Set Clear Goals

Establish specific financial goals that align with your values. Whether it’s building a peace of mind fund, paying off debt, or saving for a dream vacation, clear goals provide direction and motivation. Note: creating a budget is not the same as creating financial goals.

3. Be Inquisitive

Before making a purchase, ask yourself a few questions: Does this align with my values and goals? Will it bring me lasting happiness? Is there something I actually want more than this? Taking a moment to reflect helps you make more intentional choices.

4. Regularly Review Your Finances

Schedule periodic financial check-ins to ensure your spending aligns with your values and goals. Make adjustments as necessary, and celebrate your progress along the way. For more effortless ways to manage your money, download my free Guidebook: The Essentials of Money Management.

5. Embrace Financial Self-Compassion

Remember that financial mistakes are a part of life. Instead of dwelling on them, practice self-compassion and learn from your experiences. Guilt and shame won’t lead to financial growth; self-forgiveness and course correction will.

While traditional budgeting works well for some (actually, very few people), it’s essential to recognize that it’s not a one-size-fits-all solution. For many, the scarcity mindset, time commitment, and emotional toll can outweigh its benefits. Cultivating mindful spending habits offers a refreshing alternative to creating a budget — one that focuses on values, flexibility, and overall financial well-being. By shifting your mindset and embracing mindful spending, you can forge a healthier and more sustainable path to financial freedom. So, let’s leave behind the budgeting dogma and embark on this journey to a more mindful and fulfilling financial life together!



Jenny Whichello, Bliss + Wealth

On a mission to help the next generation of unstoppable women have blissful relationships with money while building wealth! Free resources @