Oh the dreaded budgeting topic…am I right? If you’re like me, you’re totally a shopaholic and you’re not the best of friends with budgeting.. Ha. I will admit it, I have no shame with being honest, BUT I am working on doing better, especially with the new year and having big plans for 2022. However, talking about budgeting is something that can help set things in mind and give a boost when it comes to meeting goals and keeping yourself accountable. Let’s keep it real with this topic which means I’ll definitely be an open book and share some of my struggles with budgeting as well.
The Struggle Is Real..
So, what are some things that I personally find hard about budgeting ? Honestly, for myself I always find it hard because I am that person who loves to travel and is always wanting to try or see something new along with shopping for accessories. Now don’t get me wrong, there’s nothing bad about that, however I am not always the best about doing it smartly, even when I know I should. When we think about how much we work, what our pay rates are and if we can afford to do a specific thing in life, sometimes we forget that YES, we need to build up that emergency savings account, or YES it is a good idea to add more to your car or house account so you don’t have to worry about it later on JUST in case something were to happen. My dad has always told me, “always make sure you have 3 times the amount of your rent in your emergency savings just in case something were to happen”. It’s so important that you have that as back up, because let’s be real, you never know what could happen in life.
When you have the mentality of “I’ll be fine” when the time comes for bills, that can also be something that does make it harder for you to stay on your budgeting track and it can be damaging to your mindset when it comes to bettering your budgeting habits. I have personally always “made it” when it came down to my bills so even though I knew I should keep that emergency savings built up higher and higher, I spent it. Now, why did I spend it? Because, like stated above, the “I’ll be fine” mentality stuck with me for a long time, even when my parents and grandparents have always been great with finances, I never learned or listened. So don’t be like me and keep that mentality, take charge and be prepared for a change and you’ll be happy you did.
Although I could share from my past relationships and how they can sometimes be a reason that budgeting doesn’t work out, it is always going to fall on you to make those decisions on if you spend or don’t and how you handle the relationship if your partner is someone who is not willing to spend but wants the experiences, which then makes the cost of experience fall on you. But what else is there that can ruin a budget aside from travels, experiences and relationships (romantic or friends)? Let’s talk about shopping, dining and of course, trying to fit in. For each subtopic I will also share a small goal I am going to try and follow going into 2022 as I do plan on changing a lot and sticking to what I know about myself.
Shopping… am I right?
I am 100% a shopaholic, I admit it and honestly it’s really with new skincare products and accessories. I am that individual who loves a good pair of sunglasses, a new hat, bracelet and of course, a new bag. There’s nothing bad about it, but sometimes I can definitely get carried away, even though I rarely pay full retail price for something “boujee”, some of my designer pieces have been full price, which I could have waited longer for, and most likely gotten a better deal on. I have done better now but when I lived in my college town, I was literally getting boxes every week it felt like, however my justification for it is that, online shopping is not easy. When you buy online, half of the items never work out the way you want, and that’s exactly what is was like for me. Although I constantly had boxes coming in, I typically returned about two-thirds of it or sometimes all of it because I wasn’t satisfied. When it comes to online shopping and those who are like me, I think we can agree that the feeling of getting these packages can sometimes be more satisfying than the actual items. Taking time to myself and reminding myself that I don’t NEED the items I want has helped me learn not to impulse buy as frequently, especially because I would honestly rather spend my money on travels and seeing the world more than anything. Looking at setting a monthly budget for spending will help me understand that I am able to control what I buy and be satisfied with what I have. Going into the new year, giving myself either a monthly or bi-monthly spending limit will let me look into what needs to be purchased and what I am just spending money on just because.
Dining, but who doesn’t like good food and drinks??
When it comes to dining, this can be as simple as getting coffee almost every day (guilty), going out to eat multiple times a week, weekend drinks every weekend, and even those pesky drive-thru meals when you are on the go and hungry. Who is guilty when it comes to any of these “dining” habits? Almost everyone reading this post. That’s right, we all have something that we may not notice at first, but when you think of it, it adds up, and takes a big chunk of your pay per month. For me, I would say that honestly wanting to go out with my friends all of the time can add up, although we are actually really good about splitting or you pay this time, I pay next. It’s more of that social setting with friends that we crave that allows us to feel it’s fine always being out and spending money like nothing. However, what about those daily coffee trips? Maybe it’s more than once? I used to be really good and had started making all of my drinks from home since I know how I like it, but that didn’t stop me from always wanting to go and get another coffee or drink before or after work, even on the way to run errands, I needed to get something. One thing I do know is that in 2022 I will be budgeting my “dining out” spending, this means giving myself a limit for Starbucks and eating out. Having this budget will allow me to see what I am spending the most on and let me assess if it’s something I can cut down on even more.
Fitting in, why does it matter..?
Although it’s something that a lot of people don’t want to talk about, many people deal with this, fitting in. But why is it such a big deal? Well, let me tell ya, it shouldn’t be! We are human, not meant to please everyone, fit into every group or have everything right in life, yet some people have a hard time with this and it can be a big reason why they spend so much. When it comes to budgeting and trying to fit in, sometimes people can lose track of things when it comes down to them always buying products or doing things just to fit in with the crowd. When this happens, spending money just to please others and seem like a total different person is what can really destroy an individual. Although I have personally never been through this, I do have friends that have and I have seen how they struggle to “keep up” with the individuals they are trying to fit in with. When it comes to people you associate yourself with, if they can’t handle that dollar menu every now and then, they shouldn’t be someone you associate with. Friends are meant to be there and like you as you are, not as someone else. So, if you are trying to budget but deal with issues of wanting to fit in, make sure to remember why you are spending this money, is it for you or for them? If it’s for them, don’t spend it and let them enjoy your presence just as you are, because that will always be enough!
So, now that I’ve mentioned some things, what are others that can make it hard for you to budget? Do you have some little bad habits that you could cut down on to help you out? I feel that 2022 will help people put their priorities into perspective and allow people to grow and become the individual that they want to be. I mean, what’s so bad about trying to better your finances, set goals and be determined to become your best for a new year? Nothing, so let’s do this together and kick-start 2022 in the best way possible!
Myrrha Alexis 