We got lazy. Yep, after many years of doing our monthly budget together, we got lazy the later part of 2018. We had many excuses and they even sounded valid but really, we were just being lazy. I had taken over doing the budget and not talking with Blake about it (though he could see it as shared file).
Over Christmas break, we realized that we had to get back on track with this habit that is very important to our financial journey. We kicked off January with our regular meeting, looking at the calendar, entering the income, and looking over the expenses for this month.
Wanna know my FAVORITE part of budgeting? I know exactly where our hard-earned dollars go.
Actually my favorite part is THIS: we tell our hard-earned dollars where to go. WE DECIDE what’s important to us and we use our money in those areas.
Ya’ll, I spent years wondering where the heck all my money was going and waiting desperately until payday so I could put gas in my car.
So yes, a budget signifies FREEDOM to me. It’s how we got out of debt. It’s how we learned to communicate about money without fighting. It’s how we learned to work together. It’s how we save and spend. It’s how we’ll pay off this mortgage by 2024 (that sounds crazy, doesn’t it?).
So where are you with your budget?
Do you have one? Have you looked at it lately? Do you know where to start?
These budget tips helped us immensely. Let me know which one helps you!
6 BUDGET POWER TIPS
Regular budget meeting – at least monthly. If you have a flexible income, you may need to do it weekly.
Schedule it at a good time. For us, that is the first Sunday afternoon before the month starts. We try to be focused and mostly rested (who is rested with 4 kids, right?).
Find what works for you. We use an excel spreadsheet (shared on our Google drive). We’ve tried other stuff but they didn’t work for us.
Comprehensive – all income & expenses for that time period. Don’t leave anything out. The more specific you are, the better use your money gets.
Do it WITH someone. Oh how I wish I’d done this when I was single. Some of you are SUPER disciplined and you don’t need accountability. However, the general population is not that way. We need someone to share this stuff with IF WE ARE SERIOUS about being the boss of our money.
If you’re married, a budget meeting can be code for FIGHT TIME. Let’s honest. It’s so hard because one of you is all about the budget and the other one doesn’t care. (MUCH more on this later) But yes, you HAVE to do it together.
Don’t give up – it’ll get easier. The point isn’t perfection. The point is that you are deciding where your money needs to go.
What tips do you have?
Share your favorite budget resource here so I can link it here for our readers.
