Don’t get me wrong, there are dozens of mistakes you could be making with your budget. Heck, you might be making all of them. But what do I think is the worst? Easy, creating these pie-in-the-sky, unrealistic budgets based on your delulu goals. Yeah, you’re spending $500/week for food, but SUDDENLY you’ll be able to carve that down to $100. Yeeeah, suuuuure buddy. That is the fastest way to get discouraged with your budget, decide it’s just not working for you, and throw in the towel. Then a few more months go by… you’re drowning some more… and think I really need to get that budget done. It’s a vicious cycle. Don’t let this be you.
The first step is to figure out how much you are realistically spending TODAY! You heard me, not what you ASPIRE to spend, but what you are ACTUALLY spending. Gather those bank statements and credit card transactions for the last 3 months. Add it all up and calculate your average spending. If in January you spent about $1200, February spent around $1000 and March spend was $1300, you know your average spending is roughly $1150. (I prefer round numbers, shoot me.) So instead of thinking you will suddenly cut back to $500 in April, make your goal to spend $1000. You’ve done that before, that is an attainable number. If you get paid twice a month like I do, that’s $500 per paycheck, and $250 per week, to evenly spread it out.
Next, take stock of what you have in your freezer and pantry. Sit down and create a realistic meal plan. You can even use AI to help you these days. Figure out what items are needed and create your grocery list. Aim to cook at home as much as possible to make those dollars stretch. Enlist your family or friends and do some meal prep/freezer meals so it feels like less of a burden. Even if you end up in the drive-thru a few times, its not the end of the world.
You have to want your goals more than your $15/day Starbucks habit. Can you pack a brown bag for work or is lunch out with your co-workers worth the $25? Keeping your eye on the prize will get you through those tough days when just want to door dash instead of eating a tuna sandwich because motha’ is TIRED!
So what are your goals? If you are unclear, and could use a little tough love, book a 30 minute goal-setting session with me. Let’s figure it out, together. I got you.
This was so incredibly simple and easy to understand. I read it in less than 5 minutes and it makes me feel like I can implement her strategy rn! Hubby and I can’t wait to put this into practice asap.