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Close up of savings jars with money
Close up of savings jars with money
JGI/Jamie Grill—Getty Images/Blend Images

The word "budget" often has a negative connotation to it. People see budgeting as something that is scary, and something that will hold them back from doing things that they really want to do. But Lauren Greutman, author of The Recovering Spender, explains that a personal budget is more like a safety net than a restriction.

She uses the metaphor of a white fence to explain why budgeting is your friend, not your foe. "A lot of times, people think budgeting is scary, or they can't do it, or they can't stick with it. But, I think . . . a budget is a fence around your money. You can still have fun with your money as long as you stay within the budget."