So we have been on the cash budget again for about 3 months, and I am pretty disappointed in how I am doing this time though. I am speaking for myself in this post because John has been doing a lot better than me! The first time we lived on a cash budget for over a year and really stuck to it. I was super disciplined and only spent what I had allotted to each category and if something wasn't in our budget, we didn't buy it. This time through though, I have been cheating A LOT!! I think that maybe because I am not working as much, and instead spending more time trying to entertain myself and a toddler, I have been justifying going out to eat, shopping, and leisure activities more. We have been successful in cutting back in our spending however, and I am quite pleased with how much we have saved so far toward our down payment on a house...but I could do better.
In response to my failure, I have come clean with John about my "cheating" and asked him to better hold me accountable to staying on budget. He is such a great husband and often forgives me for my little spending indiscretions because he wants me to be happy, but I need him to be the bad guy every once in a while and make sure I am being held accountable for my spending! I also will be working even less this summer when school is out, so I need to make sure I am setting myself up with some good habits on how to exist as a full-time stay at home mom and not succumb to the temptations of going out and spending money to kill time!
June will be a new month with a fresh start, and I have a goal to stay committed to my budget and save every extra penny I can toward a house. I don't think I have ever wanted something so badly, and I just need to remember that every time I spend money on something I don't NEED, I am delaying that dream a little further. So goodbye Starbucks Chai Tea Lattes, and hello Crystal Light! Goodbye lunch dates, and hello picnics in the park! Goodbye Target shopping sprees for baby "stuff" and hello garage sales for things he really NEEDS!! I can do this!!
Wish me luck,
Sarah
We should hang out more, I have a million ways to entertain our kids with out spending one dime (well maybe gas money to get over here, but that's it!) Call me :)
ReplyDeleteDo you have any tips for keeping motivated with the cash envelopes? I was very diligent throughout FPU and for about a month following, but now I'm starting to slack. I caught myself using my debit card at the grocery store today even though I had my grocery cash envelope with me!
ReplyDeleteShelby-
DeleteI always have great intentions for the cash budget, but I too fall off the wagon at times. I have horrible self-discipline so it is hard for me to stick to ANYTHING!!! What I have learned however is to set up a system that works, that way you are less likely to cheat. The envelope system was too bulky and inconvenient for me, so I use jars at home instead. (If you have never watched the show, "Till Debt Do Us Part", you should look it up!) I made jars for the categories that make sense to us and are easy to use. I also keep just a few dollars in my purse, usually a few from my personal "fun money" jar, and a few dollars from my grocery money too. That way I am always prepared for something unexpected...Dave would say though, that if you don't have the money, or if it wasn't planned, don't buy it, I am still trying to become that disciplined! Another strategy I have is a small notebook next to my jars for balancing indescretions. If I put groceries on my debit card, I will take that cash out of the grocery jar when I get home and put it in the notebook to either put back in my bank account if I need it, or just save it for the next month and pull out that much less cash to fill the jars. One last startegy I use sounds counterproductive, but it actually works. I don't carry my debit card, I carry a credit card. I hate my credit card and I keep it in the Dave Ramsey sleeve so if I ever use it, I know I am doing something wrong. The only thing we use it for though is my husband's college tuition bill every term until he gets reimbursed by his employer(but now we are using our savings instead). By carrying my credit card in place of my debit card, I am less likely to stop for a random Starbucks or something equally as frivilous. I wouldn't put something so frivilous on my credit card! But if I ever had a true-blue emergency, I would be stuck without some kind of money. Anyways, those tips have worked for me...but stick with whatever is working for you!! Also, becoming a couponer has made me much more mindful of my grocery budget as well as less likely to shop without a plan or spontaniously. Good luck!
Thanks so much Sarah! I love the "Til Debt Do Us Part" show! I'm also a big fan of Suze Orman too. The jars idea sounds great! I was also trying the envelope system that FPU provides, but found I don't need all the envelopes every day. Good idea with carrying the credit card instead of debit too! I probably never would've put my grocery trip on a credit card, so I would've remembered my cash.
DeleteThanks for all your tips! I'll be sure to try this out! Keep up the good work with the blog!