I can say that the budgeting method that has helped me the most is The Budget Mom and her budget by paycheck method. I like that her IG videos are no more than 5 minutes and they cause me to evaluate my spending throughout the month: plan, account for, evaluate. I also like the aspect of cash spending in cute envelopes that you can make for yourself afforably. It is really working out well.
I replenish my envelopes for spending weekly even though we get paid biweekly. I also deal with leftover money in no particularly consistent way. Tomorrow will be a no spend day because of the parade and barbecue at my parents' house. I will bring a dessert and pick up a plant as a gift (celebrating my mother's birthday too).
I have a balance of $20 left and I've decided to buy two items for my younger daughter. A bamboo swivel cosmetic organizer ($8) and woven storage basket ($12) at Aldi's. Both very cute and she's moving into an apartment on campus for the last two years of school. She's a hardworker who earned a full-ride and is interning 32 weeks at a law firm this summer while taking two additional classes. She's responsible and helpful and loving and she saw the flyer and thougth they were cute. Am I going to fret about this? Not at all.
It doesn't align with UFMC of "Wait 72 hours before buying non-essentials". But I'm not using a credit card and I've got the cash. And its definitely intentional spending.
I broke the impulse spending a long time ago when we were always house poor, managing to scrape enough funds necessary to react to whatever issue popped up. Now its proactive spending that I'm getting better at. I still fail miserably at times, like younger son's soccer cleats -- the cheap ones wouldn't work depsite how many pairs and brands we tried. I had to bite the bullet and buy mid-price point, but he's got happy feet so it was worth it.
I also see the sheer amount of money wasted on consumerism as the pile of donations in my basement has grown to resemble a mountain - I do regularly bag and drive to Goodwill. I also see the value in hand-me-downs, just have to be smarter about them. We just got two big bags of things from my nephew. We weeded through once eliminating by size what wouldn't work. We then went through and divided the rest by who would like what. They tried things on - we put snow pants with the winter stuff, hung up the winter coat, put jeans and dress pants away for the upcoming season, and the current stuff went right into drawers. Definitely saved me a lot of money and I dealt with all items right away, no piles lingering - Win-win.
And I do like new things. My wardrobe is a bit sparse of late, I lost 10# and took out everything that was big or I didn't like. I have two new items for the summer season. The only thing I would like is a graphic t-shirt with Audrey Hebpurn on it to replace one I don't like. I will admit to liking my Marilyn Monroe t-shirt too. Fun things that reflect how I want to be in life - embracing my quirkiness. And I'm no longer embarrassed my tattoos and will be adding another two along the way. I wish I was had figured this stuff out along the way.
This was a brain dump and went somewhere else than I originally intended. But, c'est la vie.
Thoughts on Spending while considering UFMC Day 3
July 3rd, 2019 at 06:49 am