I have a confession to make: I didn’t have a clear idea of how much money was coming in, and how much was going out, what that money was paying for. I had no idea how much we spent on groceries, how much on clothes, insurance, diapers. Just thinking about it gave me anxiety, and I’m pretty sure that alone is a sign that I needed to take action. So, it was time to take control of my budget.
However, creating a budget was very low on my list of things that I wanted to spend my precious free time on. As a working mother of two little kids, free time is something I have very little of.
Yet if you are serious about taking control of your budget and finances, there really is no choice. It has to be done. And my anxiety and mindset were holding me back. So I spent some time doing some research. Is this something I really have to do? (Yes). What is the best way of doing it? And this weekend, while my eldest was having a sleep over at his grandma’s house, I decided to just do it. Since searching for ‘The perfect tool’ is one of my go-to procrastination strategies, I went with a free budget template.
My first budget
Much to my surprise, I actually enjoyed it. There’s something very empowering and liberating about finally doing something you’ve been dreading. It wasn’t anxiety inducing at all. It felt really good to take control of my finances, to see where our money goes. For three months I established a baseline. I wanted to get a clearer picture of what categories we needed, and most importantly, where we could save and cut. And cut I did. I want my spending to reflect my values. And it did not.
Knowing exactly how much I spent on groceries last month was a great motivator to try lowering it the month after. Seeing how much impulse buying cost me, has made me more mindful with money. And by finally tackling this task, I felt much more in control. Tracking your spending in detail every month may not be necessary for everybody, but to get you started it is invaluable.
Are you ready to take control of your budget?