We asked successful entrepreneurs and creatives to tell us about whether they have a budget and how they think about spending decisions and have shared some of their responses below.

Anjelica Monet Vargas | Nonprofit Founder, Chief Creative & Pinayista

I’ve been on a debt free journey the last few years, paying off my student loans. I use a budget that allows me to aggressively pay down debt as efficiently as possible by living on less than I earn. I was introduced to financial guru Dave Ramsey by a friend several years ago and have been working the Baby Steps toward financial freedom. I am currently half way done with Baby Step #2: Pay Off All Existing Debt. So far, I’ve paid off six student loans and my car and am now tackling my last five students loans before leveling up to Baby Step #3! My lifestyle and spending choices are all filtered through my budget and priority to be debt free as soon as possible. I’ve not ever been one to need much, that is not to say that I do not have things I enjoy. Read more>>

Carly Williams | CEO

Okay. Budgeting is so so important. Staying within your means, even more so. I am very passionate about saving cash and making sure you can pay for things IN CASH. There is a time and a place for credit but ultimately cash is king. I am lean with my lifestyle because, frankly, my work is my world so I don’t buy a lot of things because I don’t have time to shop around and browse and be tempted by all the cute stuff. My priorities are different. I’d rather spend money on travel than on a pair of Target shoes that will break in 10 wears. It’s all about priorities and a long time ago, I realized if I wanted this lifestyle of CEO, I would have to be lean in other areas of my life to get where I wanted to go ultimately! Read more>>

Rahsaan Touré Gandy | Renaissance Man

In 2002 I served as a compliance officer for a mortgage firm in Carson, CA. It was here that I learned the fee for filing an LLC was $70. I named the business Fab One Management. It was a take on “Queer Eye for The Straight Guy” who where known as the “Fab 5”. I thought, “it takes 5 gay guys to be the fab 5. I can do all of those things and I am Fab One!”, the rest is history! As the business developed and as I learned more about running my own business organizing spending decisions became integral to my work. My budgeting skills came from these very humble beginnings. Read more>>

Dove Meir | Actor

I do have a budget. In fact, I teach seminars on personal finance that include budgeting as well as debt management and investing. Remnants of my last life before I found my calling that I use to help as many people as I can. Generally speaking, I don’t incur any debt. So if there is anything I’d like to purchase, I ask myself if I can afford it 100% at that moment. If not I put it on a list and I start putting money away and saving for it. Usually by the time i’ve saved enough, the desire for what I wanted has dissipated and then I have money saved up for the next thing! Read more>>

Liz Diaz | Co-Founder

As my business partner Julz Coda and I teach in our financial literacy class titled, ‘Networth and Bill’ expenses or debts don’t necessarily need to feel overwhelming at the end of each month. In our personal lives we both like to travel, go out to dinner with friends and save but if you’re not prepared for those expenses all those luxuries can feel impossible to enjoy without being in debt. This is why we like to teach our students to break down their monthly and annual debt into week expenses. This method makes us feel more financially organized and credit card statements due each month feel less intimidating because the money is there. Whether with our business or personal spending habits we categorize spending with essentials and discretionary lists and when debts become overwhelming, we simply eliminate spending in the discretionary list. Read more>>

Jackie Mena | Photographer & Social Media Marketer

I do have a budget, I feel a budget is important in managing your finances. You want to know where your money is going. I make lifestyle and spending decisions based on a system. I have an envelope system for savings and basically everyday things, and although many people may say this system does not work. It works for me. It helps me save more. Having cash at hand has helped me make spending decisions. Its helped me understand the value of our currency and how we spend. Read more>>