At the end of the month, quarter or year do you wonder where all your money went?
I thought I knew exactly where every dollar was spent. I’m a budgeting machine. As a natural spender I’ve had my eye and mind on money for years as to not let said spending get out of hand. So I was shocked (SHOCKED) when I looked at the handy-dandy yearly review that we get for each credit card. It broke down our spending into categories then listed each purchase within that category for all of 2012. All I can say is yikes!
I was super disappointed by what I saw. Especially as a budget conscious person. I didn’t buy my first song on iTunes until September of last year, because I knew those $.99 purchases are what get ya. That means for 4 years of college and 3 years of owning an iPhone I had never bought a song. Now not only was I buying a plethora of songs on iTunes I was making too many trips to that delicious Caribou Coffee.
Here’s the real kicker. Seeing that report wasn’t enough for me to change my ways. It took the report (seen in January) + sorting through the basement + sorting out my closet and jewelry + some major life events for me to finally (in APRIL!) realize the full extent of the issue and take action.
This is what I’ve concluded.
I have more than enough….of EVERYTHING!
Also, budgets are great in theory, but tough to implement in day-to-day life. Therefore it’s important to analyze your spending trends and address the real issue. I spend the most on iTunes music, eBooks, coffee and clothes. So instead of trying to make cuts across the board I need to target my core areas. I don’t need to limit movies, eating out and groceries because they are not the problem.
Thus came my declaration.
|For the month of April I will quit spending any money on the four core areas.
-Nothing, nada, zilch.
|I’ll just download these four songs. What’s $4? I’m still going to stop spending.”
“NO Katie! NO! This is where you need to prove you’re serious. $4 is $4 too many. Absolutely not.”
“Ok fine Katie. You’re right.”
|This is easy. I’ll extend this challenge through May. Heck why not June too? Why not the whole summer? FOREVER!
Honestly, for the first time in my life I feel free. Free of the burden of being a spender, always wanting more, never having enough. I look around and I see the abundance.
I think this is going to be good. Really good.
Can you relate? Do you have a guilty pleasure that you maybe spend a little too much on? In the comments below share one way you can tangibly stay on top of your spending.
And then have a wonderful weekend!