Today I’m starting with some big words!!! But if I haven’t lost you yet it’s a good sign, if you are only curious about what I’m going to write about it’s also fine, I’ll take it! And thank you for sticking with it…
I’ve been struggling a little a lot, with the word budgeting (I wrote it small so I don’t scare you either!!). I’m finding, through talking and publishing on social media about my like (aka, almost obsessive love) for them, that people have aversion to the word and what it stands for!
If you’ve been hanging around here for some time you know I wasn’t a fan of it either, but it’s been such a friend to me that I just want to introduce it to everyone I know (and even those I don’t know!). You might think I’m kidding but I got almost bullied for suggesting that people on budgets actually like to/and spend money, specially on the things they really want, the WHOLE reason someone would budget in the first place, am I right?? So ultimatly they can spend money when and where they want.
So, getting back on track, I’ve been thinking a lot about this conundrum! and I’ve been looking up some ways to ease people into the idea of getting on a budget without them realising it… (wish me luck!) just to be clear, I don’t want to trick anyone into doing something they don’t want! I want to give people what they want but get them to want what they really need!
That whole incident got me thinking that most people’s biggest issue is the fact that they don’t take the time to think about how they organise their money and (they get stressed and feel the need to scream at the top of their lungs that they don’t need a budget because they have so much money!!!) they don’t think of their money as a part of their life where they need to be mindful.
So how does Mindfulness interact with our money? Mindfulness is living in the present moment, being intentional, more aware and awake to each moment and being fully engaged in what is happening with acceptance and without judgment. How do we translate all that to our money habits in our day to day? Before you even leave your house to go shopping set your intentions. That will help you control the urge to react to a tempting impulse to buy. Being a mindful shopper doesn’t mean you can’t shop at all, it means you stop shopping after you’ve purchased what you set out to buy!.
Remind yourself of your Financial Goals daily. If you’re thinking “how can I not buy something I din’t even know I needed in the first place?” – Stop. Breath. Remind yourself of your financial goals and ask yourself – “Is this purchase help me achieve those goals? or Will it set me back from achieving them?” You may be thinking that it’s not that coffee that is going to make you NOT achieve your goals faster… it’s only coffee! Let’s disagree, I’ve even done the math! It’s a lot of money at the end of the year, probably enough money for your Christmas gifts or for that vacation! But, if you prefer to have your coffee instead of going on vacation I’m fine with it. This is PERSONAL finance, you decide where you want to spend your money, what makes you happy.
I was going to tell you to budget but instead I’m going to tell you to make a plan for your spending! That’s right, this way no one freaks out about the word and bonus, it’s a plan and what is a goal without a plan?? (We all know this one!). And last but not least be intentional and accountable with that spending plan! I say this often but not nearly enough! it’s very important to have someone in your corner because changing our habits is hard and sadly most people around us don’t like when we change if they don’t change. They feel left out. So if you don’t have a family member or friend that you feel could help you this journey, reach out to a group, like The W(h)ine and Cheese Club on FB where you’ll find support and where you can give support to others! where there’s no judgment, everyone is in the same “boat”or has been, myself included! and then you also have the option of a personal/financial coach that can help you with mindset and the planning as well.
Now some tough but true love! talk about your finances. I know it’s hard and sometimes there’s shame associated to it but start with the people you trust because it’s already hard and if you have to hide it from everyone you know, it’s exhausting! Not everyone will understand or support you but they probably will respect your choice!
S – The Sparkling Budgeteer
