THRIVING ON A BUDGET: Smart Strategies for Financial Wellness and Abundance on a Limited Budget (2024 Guide for Beginners)

By JILLIAN SPRAGGINS

"Thriving on a Budget" is your comprehensive guide to achieving financial wellness and abundance, even when faced with budget constraints. This book empowers you with practical strategies, savvy tips, and a positive mindset to not only survive but thrive on a limited budget, making the most of your resources and cultivating a life of financial w

• Language: English
• Publisher: JILLIAN SPRAGGINS
• Release date: Jan 27, 2024
• ISBN: 9783988317810

JILLIAN SPRAGGINS

Jillian Spraggins, a resident of the vibrant New York City, is a financial wellness advocate dedicated to empowering individuals with smart strategies for abundance on a limited budget. With a background in finance and a passion for helping beginners thrive financially, Spraggins brings a unique perspective to the world of budgeting and financial freedom.

Book preview

INTRODUCTION

To lead a fulfilling life, it’s crucial to possess the skills to effectively handle your finances. The primary hurdle to achieving life satisfaction is mastering financial management and living within your means. To attain financial autonomy and liberation, it’s imperative to cultivate the right money-related behaviors and attitudes. Probably, you’re already earning some income or have access to credit in your current situation. For example, if you reside in the United States, chances are quite high that you secured your first part-time job and acquired a credit card during your teenage years. What does this signify? Well, during that period, you may have developed various financial habits driven by different motives due to the absence of significant responsibilities. Nevertheless, the fact that you now bear greater responsibilities doesn’t necessarily imply that your spending habits have evolved. On the contrary, they might have remained largely unchanged, and this could be risky. If you were to compare your current spending habits to those from your teenage years, aside from the new bills you’re now responsible for, would you notice a substantial difference?

So, what’s the essence of my message? If you aspire to achieve financial freedom – that is, the ability to live without constant money worries and the freedom to shape your life as you desire – then you must transform your mindset, language, and spending patterns when it comes to money. And that’s precisely the focus of this book. The primary aim of this book is to encourage you to introspect deeply, evaluate your habits and beliefs regarding money, and then initiate any necessary adjustments required to progress toward financial freedom. Essentially, this book is intended to offer you a transformative experience, where you reshape your thoughts and, consequently, your behaviors concerning money.

The fundamental purpose of this book is to acquaint you with the concept of financial freedom, remind you of the noble pursuit of financial independence, and persuade you that anyone, regardless of their background or location, can attain financial autonomy. Above all, it aims to present straightforward, tried-and-true steps that can serve as your roadmap as you endeavor to attain a life characterized by financial independence.

I’m enthusiastic about guiding you on this journey towards constructing a life of financial freedom, not only for yourself but also for the benefit of your loved ones. Some long-held myths that you’ve considered as truths will be dispelled, replaced by constructive beliefs that will empower you to pursue a life marked by financial liberty.

I want you to do this immediately. Take a moment and envision a life where you never have to engage in work, contemplate where you’d choose to allocate your time, and with whom you’d like to share it. I strongly encourage you to let your imagination run wild. Why, you may ask? It’s because there are no boundaries except for the ones you impose on yourself.

In total, the insights you’ll acquire from reading this book will empower you to remove the constraints that have thus far limited your ability to fully utilize your financial potential. This book is filled with practical advice, presented in an approachable manner, and seasoned with a touch of humor to ensure that your experience is both enriching and enjoyable. If you’ve completed the exercise, find a tranquil spot and perhaps a refreshing beverage because you’re in for a delightful surprise!

I’ll leave you with this notion: Have faith in your boundless potential; the only restrictions you face are the ones you impose on yourself.

SECTION 1

Money Addictions

You appear… absolutely stunning!

"And I must admit, I concur. I’m dressed entirely in black, but it’s the kind of luxurious, velvety black that envelops you. A straightforward, sleeveless dress from Whistles, the most exquisite Jimmy Choo heels, and a captivating pair of uncut amethyst earrings adorn me. Please refrain from inquiring about the total cost; it’s inconsequential. This is strategic shopping—perhaps the most significant investment in my lifetime. I haven’t consumed a single morsel today, so I’m gracefully slender, and miraculously, my hair has obediently fallen into the perfect arrangement. I appear… well, I’ve never presented a more impressive image in my existence. Yet, undoubtedly, appearances are just one facet of the equation, aren’t they?

—Sophie Kinsella

Getting a mortgage can feel incredibly exciting, but the real challenge often arises when it’s time to repay it with the agreed-upon interest, and suddenly, it becomes a daunting task accompanied by a hint of regret. Thoughts like maybe I should have waited longer or perhaps I shouldn’t have done this start creeping in. Similar sentiments apply to the world of shopping; it can be an exhilarating experience, but your bank balance doesn’t always align with that excitement. This is the harsh reality.

For most people, shopping is an important activity at some point in their lives, but for others, it transcends into a daily necessity. It’s like a smoker who can’t stop at just one puff or a gripping book that you can’t put down. Sometimes, shopping becomes an Adele song you keep playing on repeat because you simply can’t get enough of it. Those with an insatiable craving, inclination, or devotion to buying, buying, and buying more are essentially addicts.

In the realm of shopping addiction, these individuals are commonly referred to as shopaholics, a term defined by the Oxford Advanced Learner’s Dictionary as people who derive immense pleasure from shopping and end up dedicating excessive time and money to it. A shopping addict is someone who constantly acquires a plethora of items, often things they don’t actually need. In exchange for fleeting moments of satisfaction, shopaholics lose significant amounts of money.

Recent research indicates that in developed countries, approximately 5% of the adult population, predominantly young women with low incomes, exhibit compulsive buying behavior. But the issue doesn’t end there; it seems to be on the rise. Over 14% of the general population is believed to experience this condition in a milder form, and its potential severity remains unpredictable.

In the preceding sentences, we’ve portrayed excessive shopping, a form of addiction, in a negative light, and rightly so. Shopping addiction is a genuine condition that many people acknowledge having. However, some may be unaware of their condition because they simply buy impulsively what they can afford.

This book primarily focuses on exploring the concept of Shopping Addiction and its related terms, delving into the causes and consequences,