How to Budget For Financial Independence

This is the Fiology lesson image for how to budget for financial independence. It shows a man and a woman tossing money into the air carelessly. It has the quote "A budget is telling your money where to go instead of wondering where it went." by John C. Maxwell.

Do you know how to budget? There are many philosophies and tools to be familiar with when deciding to give budgeting a try.

The first step in developing a budget is tracking your spending. We need be aware of where our money is going and reroute it to where we know it will make a positive difference.

Most people on the path to Financial Independence track their spending one way or another, at least for a short period of time. Some adhere to a strict spending plan and some base their spending strictly on values, limiting wastefulness.

Spending should be intentional. We should not only know how we’ve spent our money, we should know where our future dollars will go. This lesson provides a working knowledge of how to budget and some additional information to help make to adhering to one a rewarding experience.   



Take Action:  

  1. During your first two months of active budgeting, record your thoughts, feelings, surprises, and challenges. It won’t all be roses but you will likely find that with time it becomes habit and increasingly empowering.  Sending an e-mail to yourself with an easy to recall subject line like “Johnny’s Budget Experiment Week 2” will prove useful in the future as you reflect on your progress towards Financial Independence. Whether you inevitably stick to it or not, learning how to budget will reveal some information about your finances and yourself that will prove beneficial on your FI journey.

Additional Resources:


A budget is telling your money where to go instead of wondering where it went.” – John C. Maxwell

David Baughier

My passion for helping others led to the curation Fiology. Help me spread the message of Financial Independence by clicking a colorful link above and sharing this post on your favorite social platform. Thank you!


  1. Nick True on May 11, 2018 at 3:05 am

    Dude! Thanks so much for sharing my article and video. Really means a lot.

    • Fiology on May 11, 2018 at 4:47 pm

      Nick, I am glad I did this project because I found you during this research and found it to be the most useful. Thanks for putting out the content and allowing me to share it. Keep up the great work out there.- David

  2. Ms. Fiology on June 5, 2018 at 10:15 am

    I love that quote by Maxwell! I find it to be very true.

    • Fiology on June 7, 2018 at 12:40 am

      The first I heard it was when I was researching this lesson. It’s a good one.

  3. Ms. Fiology on June 11, 2018 at 1:23 am

    Dave Ramsey has that quote up in his studio, FYI.

  4. Captain DIY on October 1, 2018 at 11:49 am

    Yet another great aggregation of material! Looks like I have some time budgeting to do to fit all of this reading in…

  5. Matt on August 6, 2019 at 12:24 pm


    I can’t tell you how much I admire Fiology’s media approach of aggregating, curating and disseminating rich pre-existing content while blending in your own content. Beyond the resulting message that gets put out there, it supports the FI influencers and introduces your followers to new bloggers – a three-way win and overall public service. Hats off to you sir! I’m looking forward to watching this platform continue to blossom, support the FIRE community and continue to help scores of people.

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