This article re‐conceptualises the framework surrounding work–life balance. Though previous research has focused primarily on the ways in which work life and non‐work life influence each other (mostly negatively), we present an alternative perspective that focuses on personal pursuits and the management of personal resources. We introduce a personal resource allocation (PRA) framework that treats all life demands—whether preferred or required—as forcing individuals to make choices about where, when, and how they expend their personal resources across the life domain. Building on self‐regulatory theories, such as control theory, self‐determination theory, and conservation of resources theory, we suggest ways in which effective personal resource allocation not only decreases negative outcomes (which has been the emphasis in work–life balance research), but also how effective personal resource allocation can actually contribute to positive outcomes. We conclude by providing some practical implications for individuals and organisations based on the PRA framework and suggest future research opportunities.
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