Tuesday, June 19, 2012

Back to the Basics: Budgeting.

Last night after work one of my sweet friend came over for breakfast for dinner, a workout, and a pow wow about budgeting.  One of the hardest lessons I had to learn as a young adult out on my own was managing my money.  My parents were prime examples of budgeting done well but managing my own money on my first 'real' income (I've been working since I was 15, but I hadn't actually supported myself).  One of my girlfriends just got her first full-time job recently and I agreed to have a sit down with her to help her do it better than I did, my first go around.

Don't worry, I also very much encouraged her to take a one day Dave Ramsey class my church is offering in July.  I'm not confident enough in my own abilities to be the only resource anyone uses on money. I'm still learning myself, naturally.

As I prepared for this pow wow, going back over the basics inspired me to tighten up my own budget.  I've been living on a budget for three years now, but budgeting is a little like doing through your closet.  You could go through and throw out everything that doesn't fit or look good, and then go through it again and find 5 more.  It's just how it goes.  So as I went back over the basics I realized my budget had some leaks as well. I wasn't making my money work as hard for me as I could.

And so, I've tightened it up and taken a few deep breaths to keep from panicking.  It seems I've been doing a lot of this as I've been addressing the basics in most categories of my life.  It's all kind of connected, isn't it? It all comes back to discipline.  As I've tightened up my schedule, my workout routine, my diet, my budget, and my reading goals for the year I'm reminded of the value of revisiting the basics in your life.

If it's been a while since you went back over your goals and checked yourself (preferably with a friend) to see if your habits are working towards those goals, do it.  You may find that, like your closet, there's still some extra weight in there.  This is me encouragement to keep challenging yourself and pushing yourself to meet your goals and make sure you take the time to celebrate each of them.  Rest assured, I'll be celebrating when I pay cash for my next car and pay off my house someday.  Maybe sooner rather than later.



Michelle said...

Budgeting is extremely helpful. I can't wait until my students loans and house are paid off!

lil desiqua said...

I definitely agree. It's always good to check in with yourself regarding goals and budgets- even if you are doing well, there always seems to be more that you could be doing!

ERIKA said...

That's very cool that your friend and you did that together! My friend just recently asked me for some advice regarding credit cards. Next, I want to help her budget. It's a lot of fun when we can talk about finances with others!

Jamie said...

Great post. I totally agree that it is good to have some one else hold you accountable.

Asha said...

Love that you went over the budgeting with a friend...I definitely have to "tighten my belt" in this area. Hey, if you ever want to help me out with mine I would love it. Seriously!