Here with another post of the budgeting journey. So its been 2 months since I’ve decided to get back into BUDGETING! & its still a struggle, but there is no quiting. Those 2 months actually let me see were our money was really going, which is a good thing. Now I know were I’m going to actually be a bit more disciplined! Most of the time I put transactions in a miscellaneous category because true fully I didn’t know were it went or forgot what it was spent on! That is a BIG OOPSS in the budget tracking. I found myself always trying to be perfect with the numbers but I think I over thought it and just went with what ever number I thought fit. In this post I would love to share how I overcame the Budget Blues to being more confident with my budget.
DON’T UNDER/OVER ESTIMATE – DO ACTUAL – This is one of my biggest mistake with my budgeting, I always estimated the amount then the actual number that could save my budget. I either planned to much or less, which threw me off more than I expected. If you are budgeting PAYCHECK to PAYCHECK with an irregular income, I suggest that you wait for your final numbers come in. Sometimes it can be a big scare, but honestly its the only way you will know where you will be able to give the proper budget to the category.
PLAN, PRIORITIZE, FUN – It will suck at first, but somethings just need to be done at with limits. If that bill due is more than you can budget for to last until the next payday, I would pay as much as I can and inform the company/vendor of your situation. We know there will be some kind of late fee, but you got to think will you have extra funds to last until next payday – gas to get to work, food for your little ones or your energy! Plan your bills ahead. If you already know the due date & minimum amount, put that in your budget planner or where ever you budget and break it up in 2 so that you at least get it paid each month.
DELAY THAT RETAIL THERAPY TRIP – Everybody is always looking forward to a nice little or BIG shopping trip after bills have been paid! Lol, I was so like that- once bills were paid I was like YESSSS, plenty money left, but when the expenses came for groceries, household stuff, kiddos necessities, sinking funds & the list goes one!! So dont forget about your daily/monthly expenses! because that’s when the BUDGET BLUES kicks in. You start telling yourself why am I out of funds already, I thought I had enough. We all know that we most likely go over our limit with RETAIL THERAPY. So a good trick is that, after bills are paid, plan your expenses (groceries, household stuff, kids stuff, etc) and with your left over – SAVE IT! Make a RETAIL THERAPY or HAPPY SHOPPING what ever you want to call it category in your Sinking Funds.
START DOING SINKING FUNDS – What is Sinking Funds? Its like a savings account with multiple/minimal categories. That’s where you can put your RETAIL THERAPY TRIP funds in. Its funds that are left over from your budget that you can put into the categories for future use. Tops Priorities for Sinking Funds – Savings (medical/car/household), Special Occasions/Christmas & Vacations. Those would be my top categories. Will be posting more on how I keep my Sinking Funds Organized.
BUDGET FOR YOU/FAMILY – meaning, don’t compare your budget to others! I’ve learned and read that it only makes your budget blues crazier! Your trying to budget to have or do the same thing that the other is doing – buying nice cars, materialistic things, buying a house and all the other pretty stuff you might think are worth breaking your budget for. But should you break it for those things that you know you wont be able to afford at the moment will only make you not able to save for the pretty things! Just remember, every month/year something new always comes out, So dont worry you might be able to get your hands on it before they do!
LASTLY, BE PROUD & CONFIDENT! – The best thing about budgeting is being financially stable & happy! Nothing feels better than to be proud for yourself of accomplishments! I haven’t mastered all my budget categories or a Professional Budgeter, but from experiences of living paycheck to paycheck and a family of 7, trying to save/use every penny to ensure that my little ones are fed, clothed & sheltered is a BIG ACCOMPLISHMENT already! All we got to do is keep going, don’t quit! DO YOU & you will soon get all the rewards of being and doing YOU! It is not the end of the world, you can still make amends with what ever debts/financial thing.
I hope this post was helpful, most especially for families/singles living paycheck to paycheck. How do you overcome your BUDGET BLUES? I would so love to hear your stories!