Op-ed: Taylor Swift's Lyrics Can Encourage a More Effective Budget Plan

• Feeling overwhelmed by bills and finances, you can relate to Taylor Swift's "The Prophecy" lyric: "and I sound like an infant, feeling like the very last drops of an ink pen."
• Some strategies can be practiced to help alleviate the feeling of financial defeat.
• To create a better budget, take inspiration from Swift's music.

Taylor Swift, a renowned pop singer-songwriter and cultural icon, is currently one of the most sought-after performers, with her Eras Tour becoming the first to surpass the $1 billion mark.

Swift's anthology of songs contains numerous impactful lessons on love, loss, friendship, self-discovery, overcoming disappointments, and living life to the fullest. Her lyrics also inspire financial lessons that we can apply.

If examining your finances leaves you feeling overwhelmed and depleted, you can certainly empathize with Swift's lyrics "and I sound like an infant, feeling like the very last drops of an ink pen."

Fearlessly, you should dive headfirst into some strategies to alleviate the feeling of financial defeat, as things are not hopeless.

After all, this is within your control, as Swift sings.

Don't wait to get started

Starting a new financial way of life can be overwhelming. But remember Swift's words: "It only hurts this much right now … Breathe in, breathe through, breathe deep, breathe out."

To achieve success, it's crucial to analyze your income and spending. The quicker you gather this information, the better equipped you'll be to start managing your finances. I've created a free budget worksheet that can assist you in this process.

'Speak now'

Speak your budgeting goals aloud to manifest them to yourself and the universe.

To increase the likelihood of achieving your goals, it's recommended to write them down. If you have a reliable support system, inform your loved ones about your new journey so they can assist you and keep you accountable.

Building this foundation is an important early step.

Pay off debts like 'a mastermind'

To achieve your desired destination, you must first assess your current position and establish a plan. Typically, paying off debt is an integral part of this plan.

To manage your finances effectively, prioritize paying off debts and adopting healthy financial habits. Choose a debt repayment plan that works for you and enables you to reduce balances while avoiding accumulating new debt.

You will eventually be debt-free and singing like Swift: "I laid the foundation and then, just like clockwork, the dominoes fell in a perfect line ... it was all part of my plan, 'cause I'm a genius."

'Let old [spending] habits die screaming'

While constructing your financial plan and analyzing your budget information, be mindful of common financial habits that can be improved or altered.

Do you have a tendency to "feelin' so Gatsby" and overspend on impulse, or do you frequently engage in retail therapy to cope with stress?

You don't need to buy things to impress others or make the whole place shimmer like Swift. You should live the lifestyle that is best for you.

Review your subscriptions, memberships

Are you paying for a streaming service that doesn't provide the value you expect? Cancel it.

If you're "down bad crying at the gym," maybe cancel your gym membership. At-home workouts are way less expensive, and walks outside are both free and good for your mental health. It could be a win-win.

Lean into free ways to have fun

Having fun doesn't always have to cost money.

Your city likely offers free or low-cost classes and activities, and laughing with friends is free. Cherishing the people you love in your life is priceless. If you're looking for more to do, search for "free fun things" in your area. Many areas have local bloggers who can show you how to have a good time without spending a lot of money.

We're too busy living to be knocked off our feet. We're the new romantics, the best people in life are free.

Leverage technology

Automate your recurring bills and savings by setting up auto-pay and directing funds into your savings account. This way, you can focus on enjoying life without worrying about financial stress.

Winnie Sun, co-founder and managing director of Irvine, California-based Sun Group Wealth Partners and a member of the CNBC Financial Advisor Council, discusses financial matters.