1 00:00:03,440 --> 00:00:07,560 Speaker 1: Welcome to Before Breakfast, a production of I Heart Radio. 2 00:00:09,119 --> 00:00:15,080 Speaker 1: Good Morning, This is Laura. Welcome to the Before Breakfast podcast. 3 00:00:16,040 --> 00:00:21,400 Speaker 1: Today's tip is to give yourself a budget. Spending nothing 4 00:00:22,000 --> 00:00:27,080 Speaker 1: isn't always the way to go. Sometimes spending intentionally can 5 00:00:27,120 --> 00:00:31,640 Speaker 1: be well worth your dollars. On a recent episode of 6 00:00:31,680 --> 00:00:35,320 Speaker 1: my other podcast, Best of Both Worlds, my co host 7 00:00:35,400 --> 00:00:37,920 Speaker 1: Sarah hart Unger and I fielded a question from a 8 00:00:38,000 --> 00:00:42,080 Speaker 1: listener about how to spend a professional development budget that 9 00:00:42,159 --> 00:00:45,800 Speaker 1: her employer had just given her. We offered ideas, and 10 00:00:46,080 --> 00:00:50,000 Speaker 1: we hope that the listener pursued some meaningful opportunities. Now, 11 00:00:50,040 --> 00:00:52,800 Speaker 1: if you are self employed like me, that question may 12 00:00:52,800 --> 00:00:55,880 Speaker 1: make you think, well, hey, wouldn't it be nice if 13 00:00:56,160 --> 00:00:59,160 Speaker 1: I had a professional development budget that I could decide 14 00:00:59,160 --> 00:01:02,240 Speaker 1: how to use. Well, I am here to tell you 15 00:01:02,720 --> 00:01:06,800 Speaker 1: that you can. Everyone needs to grow professionally, whether you've 16 00:01:06,800 --> 00:01:09,600 Speaker 1: got a standard job or not. There are lots of 17 00:01:09,640 --> 00:01:14,679 Speaker 1: great opportunities for professional development out there. Not everything is free, 18 00:01:14,840 --> 00:01:17,720 Speaker 1: of course, but that doesn't have to be a deal breaker. 19 00:01:18,760 --> 00:01:21,520 Speaker 1: If you are a freelancer, when you make your business 20 00:01:21,520 --> 00:01:26,959 Speaker 1: budget for the year, consider adding a line for professional development. Now, 21 00:01:26,959 --> 00:01:29,280 Speaker 1: if you're struggling to meet your income goals. Maybe you 22 00:01:29,400 --> 00:01:33,479 Speaker 1: start with a fairly small budget, say three hundred dollars 23 00:01:33,480 --> 00:01:36,920 Speaker 1: for the year, with the intention of increasing this when 24 00:01:36,959 --> 00:01:41,959 Speaker 1: you can. But even three hundred dollars is definitely not zero. 25 00:01:42,959 --> 00:01:45,440 Speaker 1: A three hundred dollar budget means you can buy pretty 26 00:01:45,520 --> 00:01:49,200 Speaker 1: much any work related book you want, participate in a webinar, 27 00:01:49,880 --> 00:01:53,240 Speaker 1: or subscribe to a publication that is important in your field. 28 00:01:54,160 --> 00:01:57,200 Speaker 1: It means you don't automatically think you should say no 29 00:01:58,000 --> 00:02:02,280 Speaker 1: when an opportunity for training comes your way. You can 30 00:02:02,280 --> 00:02:07,360 Speaker 1: do this for any category of spending anyone can, particularly 31 00:02:07,360 --> 00:02:09,880 Speaker 1: when money is tight. We sometimes think we should spend 32 00:02:10,360 --> 00:02:14,079 Speaker 1: zero on a category, but in many cases it would 33 00:02:14,120 --> 00:02:17,040 Speaker 1: be wise, either for our own future earnings or at 34 00:02:17,120 --> 00:02:22,680 Speaker 1: least for our happiness, to spend more than zero. Maybe 35 00:02:22,680 --> 00:02:26,720 Speaker 1: not a lot, but not zero either. When that is 36 00:02:26,760 --> 00:02:31,160 Speaker 1: the case, creating a designated budget can allow us to 37 00:02:31,240 --> 00:02:35,480 Speaker 1: spend mindfully, rather than feeling guilty when we do spend, 38 00:02:36,200 --> 00:02:39,040 Speaker 1: or not spending when it would be smart to do so. 39 00:02:40,400 --> 00:02:43,079 Speaker 1: For instance, if your clothes are feeling a little older 40 00:02:43,320 --> 00:02:46,240 Speaker 1: bill fitting after two years of not going many places, 41 00:02:47,000 --> 00:02:50,680 Speaker 1: it might be time to replace some rather than spending 42 00:02:50,680 --> 00:02:55,000 Speaker 1: more than you can afford or just doing without. You 43 00:02:55,040 --> 00:02:57,920 Speaker 1: can decide on a certain amount of money that you 44 00:02:57,919 --> 00:03:01,440 Speaker 1: will spend on new clothes. These guardrails can make you 45 00:03:01,480 --> 00:03:05,160 Speaker 1: feel okay about purchases. There is a limit to it, 46 00:03:05,560 --> 00:03:10,639 Speaker 1: and it's also not zero. It is an acceptable, mindful amount. 47 00:03:11,560 --> 00:03:14,280 Speaker 1: You make trade offs within that amount, but you don't 48 00:03:14,280 --> 00:03:18,480 Speaker 1: pitt every clothing dollar against let's say your vacation aspirations. 49 00:03:19,320 --> 00:03:23,920 Speaker 1: You know it is okay to spend something if there's 50 00:03:24,000 --> 00:03:27,160 Speaker 1: no extra money anywhere in your overall budget. This still 51 00:03:27,240 --> 00:03:30,360 Speaker 1: doesn't mean you can't create a small budget for something extra. 52 00:03:31,400 --> 00:03:33,800 Speaker 1: You might be able to cut back somewhere to fund 53 00:03:33,840 --> 00:03:37,480 Speaker 1: something else. For instance, you could be a weekday vegetarian 54 00:03:37,520 --> 00:03:40,760 Speaker 1: for a while to finance a small getaway. You could 55 00:03:40,760 --> 00:03:43,440 Speaker 1: fund new clothes by selling your old clothes at a 56 00:03:43,440 --> 00:03:47,800 Speaker 1: consignment shop. It seems like budgets are best for people 57 00:03:47,840 --> 00:03:51,760 Speaker 1: who are big spenders. Telling yourself you can only spend 58 00:03:51,960 --> 00:03:54,760 Speaker 1: four dollars on clothes will keep such a person from 59 00:03:54,760 --> 00:03:58,520 Speaker 1: spending four thousand dollars on clothes. And that's probably a 60 00:03:58,560 --> 00:04:02,600 Speaker 1: good thing. But I suspect many people listening to this 61 00:04:02,680 --> 00:04:09,200 Speaker 1: podcast are already quite thrifty. Giving ourselves budgets for specific 62 00:04:09,280 --> 00:04:12,760 Speaker 1: categories is a way to nudge us to spend when 63 00:04:12,800 --> 00:04:16,680 Speaker 1: we might not naturally do so. We tell ourselves we 64 00:04:16,880 --> 00:04:20,200 Speaker 1: shouldn't go to that conference, or we shouldn't buy those books, 65 00:04:20,800 --> 00:04:23,880 Speaker 1: when in fact we'd get a lot out of doing so. 66 00:04:25,040 --> 00:04:29,159 Speaker 1: Giving ourselves a budget can be freeing, allowing us to 67 00:04:29,200 --> 00:04:35,400 Speaker 1: spend mindfully and feeling good that we have in the meantime. 68 00:04:36,320 --> 00:04:40,640 Speaker 1: This is Laura. Thanks for listening, and here's to making 69 00:04:40,640 --> 00:04:50,640 Speaker 1: the most of our time. Hey, everybody, I'd love to 70 00:04:50,680 --> 00:04:53,640 Speaker 1: hear from it. You can send me your tips, your questions, 71 00:04:53,720 --> 00:04:57,480 Speaker 1: or anything else. Just connect with me on Twitter, Facebook, 72 00:04:57,560 --> 00:05:02,400 Speaker 1: and Instagram at before Breakfast pop that's b E the 73 00:05:02,480 --> 00:05:06,720 Speaker 1: number four, then breakfast p o D. You can also 74 00:05:06,720 --> 00:05:10,120 Speaker 1: shoot me an email at Before Breakfast podcast at i 75 00:05:10,200 --> 00:05:13,200 Speaker 1: heeart media dot com that before Breakfast is spelled out 76 00:05:13,240 --> 00:05:15,680 Speaker 1: with all the letters. Thanks so much, should I look 77 00:05:15,720 --> 00:05:24,080 Speaker 1: forward to staying in touch. Before Breakfast is a production 78 00:05:24,120 --> 00:05:27,559 Speaker 1: of I Heart Radio. For more podcasts from my heart Radio, 79 00:05:28,040 --> 00:05:31,560 Speaker 1: visit the I heart Radio app, Apple podcast, or wherever 80 00:05:31,600 --> 00:05:32,960 Speaker 1: you listen to your favorite shows.