To many, “budgeting” feels like a bit of a dirty word… one synonymous with savings, sacrifices and scarcity.
For my latest podcast guest, ‘budgeting’ looks like coloured highlighters, sexy spreadsheets and a sense of empowerment.
In the most recent podcast episode of The Pay Off with Sylvia Jeffreys, I picked the brilliant brain of Jessica Irvine, CommBank’s Personal Finance Expert and self-proclaimed ‘money nerd’ on all things budgeting.
Jessica Irvine is CommBank’s Personal Finance Expert and self-proclaimed ‘money nerd’ on all things budgeting. (Supplied)
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If you take one quick look at Jess’s Instagram page, @moneywithjess, it’s no secret she’s unapologetically overjoyed by the idea of money – from how to save more, to how to invest best.
So, are the rest of us missing the mark on what makes budgeting exciting and empowering as opposed to exhausting?
“People have really weird ideas about what that [budgeting] means”, Jess explains.
“I’m trying to get people to think about it a bit more broadly. To say that a budget is just a system for managing your money so that you can maximise your cash flow, to divert it towards whatever you want to achieve in your life”.
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She continues, “Whether it’s home ownership, going on holidays or retiring early… money is this incredible tool that we can use to build the life that we want.”
I mean, it doesn’t sound half bad when you put it like that. That’s why I wanted to follow-up by asking Jess her secrets to staying optimistic when living on a budget.
To listen to Episode Seventeen of The Pay Off with Sylvia Jeffreys, press play below or tap here –
Episode Seventeen | Budgeting Can Be Sexy With Jessica Irvine
“‘On a budget’ – doesn’t that sound horrible? I get why people don’t like the idea of a budget”, Jess reveals.
“It comes down to mindset… if we could reframe that as you’re taking control and getting visibility over where your money is going.”
Jess continues, “Looking at the things that you can control, looking at what might be some of my thoughts that I’m carrying around about money that I could reshape.”
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Beyond a shift in mindset, in this episode, Jess reveals where our money is disappearing within our discretionary spending, why there’s such a thing as “good” and “bad” debt and her tips on how you can help yourself right now when it comes to savings.
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The Pay Off with Sylvia Jeffreys is out now and a new episode publishes for free every Thursday. Search “The Pay Off” in your podcast app or tap here.
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