Contents
7 Surprising Things You Can Afford
Introduction
Do you feel like you can not splurge or your budget will go into a tailspin? Do you think that those spontaneous trips are completely out of reach? Have you ever wondered what would happen if you just start budgeting better?
Yes, there is that “B” word again. But this time, I want you to approach budgeting from the empowering side of “I’ll start telling my money where to go!”, and finally stop feeling that you have no idea where your money went.
The first and easiest step is also the most empowering: evaluate your budget for money pits.
Money pits or money leaks as they are sometimes called, are areas of your budget where you are silently leaking money. They include unused subscriptions, pets, and other non-intentional spending.
When you stop the money leaks, you will have money for all the things you want to spend money on!
For example, if you spend $50/month on a gym membership but never go, wouldn’t you rather have that $50 a month going into your vacation fund?
It is simple steps like this, that can help you afford these seven items, and so much more! Let’s take a better look.
Also, you’ll find a very useful gift at the bottom of the page to help you stop those money leaks for good.
7 Things You Can Afford
1. Great vacations
Have you been dreaming of that all-inclusive resort in the Caribbean? Or the luxury cruise around Europe? Maybe it is a cabin in the mountains that is completely off the grid. Whatever your dream vacations are, budgeting can make it a reality and make you finally stop saying “One day I’ll go.”
2. Kick-ass outfits
Have you pictured yourself in some awesome new outfits while on your dream vacation? Does a designer bag make you feel like a million bucks? Do you prefer to invest in good quality clothing that will last several years? This IS TOTALLY within your reach, you just need a plan and that plan is called a budget!
3. Dinners out with family or friends
Quality time spent with our loved ones is priceless. Enjoying that time over a meal you didn’t have to prepare is wonderful! Being able to focus on family and friends and grow that human connection is a must for everyone. Do you want to miss those moments just because you don’t have the budget for them? Again, budgeting is the fastest way to achieve this.
4. Supporting favorite charities
We all have a cause or causes that are near and dear to our hearts. Being able to give to these causes is so important for us to feel connected. A budget can help you plan when and how much to donate to your favorite charities. Taking control of your money is empowering and allows you to help others.
5. Growing your investment account
Planning for retirement gives us a sense of security and peace. Retirement will be the largest expense we face in our lifetime. Having a good plan and being able to execute it will reduce your stress about the future and give you peace of mind in the present.
6. Self-care
Let’s face it, life is hard. It is easy to get caught up in day-to-day activities and ignore our own well-being. We need to budget for and schedule self-care. Self-care can range from a walk in nature to a day at the spa or a week at a retreat. All of these things are possible when we budget!
7. Concerts or other live performances
There’s nothing like the thrill of a live concert or performance. Let yourself be transported to another world, surrounded by fellow music lovers. From rock to classical, there’s a live event that will leave you breathless. Planning (budgeting) will allow you to attend your favorite events.
All these things and more are possible with a budget. Yes, a budget. Don’t think of a budget as restricting, think of it as refreshing.
A budget can refresh your money mindset. I don’t want you wondering where your money went, I want to empower you to tell your money where to go.
Simple, Actionable Steps
1. Establish a budget
The first step is to know what you have to work with. You can budget with an app, a spreadsheet, or some chicken scratching on a piece of paper. For help on budgeting check out my 7-week coaching program.
2. Use your budget
It is wonderful that you took the time to create a budget, but make sure you are USING the budget. Use your budget to tell your money where to go! Your budget is your guide. It tells you how much money you need for necessary expenses, how much money to contribute to savings and investing, and how much money you have for discretionary spending.
3. Align your budget with your values
What are your spending values? Does your budget align with your spending values? If not, how does your budget need to be adjusted? Identifying your spending values in one of the areas we address in my 7-week coaching program.
4. Review & adjust your budget regularly
Remember budgeting is an ongoing process (like laundry). You should review your budget at least quarterly (monthly if you are new to budgeting). Make adjustments as necessary. Give yourself grace, no one is born “knowing how to budget”. Budgeting is a learned skill and just like we have all learned how to walk and talk, we can all learn how to budget and make money decisions.
5. Review your budget for money pits
As I mentioned at the beginning of the article, money pits are places you may be silently leaking money from your budget. The first step is recognizing where this may be occurring. The second step is to “plug” those leaks.
Conclusion
Remember, budgeting is not restricting but rather freeing. Budgeting can help you achieve the seven items listed above and so much more! It is freeing! When you budget you no longer wonder where your money went, you tell your money where to go! And that is liberating and empowering.
Budgeting is a learned skill. It takes some time and guidance to develop a good budget. I am passionate about helping women learn budgeting skills, learn their spending priorities, and learn their money triggers.
If you desire to start somewhere today, THE BEST WAY to do it is to STOP those money leaks we were talking about at the beginning.
SO, as promised, here is my “13 Common Money Pits” guide for an in-depth look to easily help you to identify the current money leaks you probably have.
Click the photo to grab your copy!
