Definition
Limits you set around spending and sharing money to maintain healthy financial habits and protect your resources.
What to consider
- Set clear limits on what you’re willing to spend or lend.
- Communicate these boundaries with those close to you.
- Review them as your financial situation evolves.
Real world scenarios
- Kelly decides she’ll only dine out once a week, a boundary that preserves her budget for larger goals. This rule stops her from impulse restaurant visits.
- Brent sets a spending cap for each category in his budget, giving himself structure while still allowing some fun money. He avoids guilt by knowing exactly how much he’s allowed to spend.
- When friends suggest expensive outings, Jada refers to her personal boundaries. She either budgets the cost in advance or politely declines if it exceeds her set limit.
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