Friday Financial Tidbit-Budgeting changes once you are debt free!

Yes, I’m talking about budgeting again. But today I want to focus on budgeting after you are debt free. Budgeting after you become debt free is still extremely important, but the good news is that budgeting changes once you have become debt free.

The main change with budgeting after you are debt free is that you now have more options available. Previously your budget was mostly defined by the bank. Your budget included the four walls plus any payments included your car loan, your student loan, credit card payment, etc. and anything else you wanted to do you had to figure how to fit it into your budget. Instead of taking stuff out of your budget you now get to add things in. Your budget can now be updated with increased spending for lifestyle, start to increase retirement contributions, save for that vacation you have been putting off, or anything else you want to do.

If you have achieved debt free status, chances are that a large reason why is because of your budgeting. So don’t give that up. Instead realize that the budgeting process is changing and now you get to enjoy your money how you choose to.

For those of you who are debt free, how has the budgeting process changed for you? Is it more enjoyable now that you are debt free?

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