If you’re a saver who tracks every penny but still feels stuck or a spender who hates the very idea of a budget, you’re in the right place.
I’ve been in both camps, and I can tell you from experience: budgeting doesn’t work. Not the way it’s taught, anyway. The truth is, financial freedom isn’t about obsessing over a spreadsheet or depriving yourself it’s about money stewardship and building a spending plan that works for your life now and in the future.
The Problem with Budgets
I grew up thinking budgeting was everything. Spend as little as possible, save as much as possible, and live cheap. Sounds noble, right? But here’s the problem budgets are almost always born from scarcity thinking. Whether you’re a saver or a spender, that scarcity mindset will keep you trapped.
If you’re a spender, budgets feel like handcuffs. You swing from living it up to cutting yourself off cold turkey and end up breaking your budget in frustration. If you’re a saver, budgets can become chains of guilt. Spend a dollar over your set limit and you feel like you’ve failed. Neither approach creates lasting wealth or peace of mind.
Why “Steward” Beats “Saver” or “Spender”
Instead of labeling yourself, think of yourself as a steward. A steward uses money with purpose. It’s not about hoarding wealth or blowing through it, it’s about making your money work for you and for others. That means spending money in ways that produce more value, more income, and more freedom down the road.
As a steward, your money should not sit idle. Whether it’s blessing your family, creating opportunities for others, or investing for passive income, every dollar should have a job.
And yes sometimes that job is to help you enjoy life today.
The Spending Plan Solution
Budgets fail because most people have no idea how much they truly spend. The first step isn’t cutting back it’s tracking. For 6–12 months, track your expenses using tools like Monarch Money, Rocket Money, or even a spreadsheet. Get an honest picture of your spending before you make changes.
Once you know where your money’s going, create a spending plan not a budget. A spending plan says, “Here’s what’s coming in, and here’s exactly where I’m choosing to send it.” That includes paying off debt, building an emergency fund, and investing in assets that generate income.
Recapture and Redirect
When you pay off a debt, don’t let that freed-up money disappear into lifestyle creep. Redirect it into your next financial goal whether that’s more savings, investing, or growing your business. This is how you build momentum toward financial freedom.
For example, many of my clients use what I call the Freedom Fund a high-cash-value life insurance policy that lets you store money, grow it tax-advantaged, and still access it for opportunities. It’s a powerful tool for those serious about multiplying their wealth.
Your Next Step Toward Financial Freedom
If you take one thing from this, let it be this: ditch the budget, create a spending plan. Track your money, evaluate your priorities, and give every dollar a job. When you start managing money like a steward, you stop working for money and your money starts working for you.
Financial freedom isn’t a number in a savings account it’s the peace of mind knowing you can live life on your terms, bless others, and have your income flowing whether you work or not.