Saving and budgeting are two different giants in my life. Add in my wants in the mix and my financial life are in crumbles. So what make me fail in my budgeting- what make you fail in your budget? And how I fail miserable in budgeting?
I ask the Dave Ramsey group I belong to and here are the various answers I learned:
- Not cooking at home- to be honest, I am not that guilty with this because I make sure that I cook on the weekends and I do cook a large batch for meal prepping, so that we can brown bag our lunches. But I understand those who struggle with this. Some just don’t know how to cook and some are just picky and prefer the taste of take out.
- Tiredness- even when I cook a large batch at home, there are days when I come home and the fridge is empty. It just happen that my son ate all of the food I stock fort he week. There is no more time to cook when you are tired, so eating out it is. For the family of 3, we can spend not less than $50.00 in our Sushi place we like.
- Spouse- My husband is very supportive of our goal to pay off the mortgage early, but once he spends something on tools, boy they are not cheap. Whenever he browse in FB Marketplace, I get nervous what he might find. Once he liked something there, I am too weak to refuse, since he works hard and these purchases do not happen often. As for me, I have to stir clear from World Market or Amazon for unplanned purchases.
- Urges and Cravings
- Groceries- I set a $90.00 budget weekly, but oftentimes I fail to stick with it because I go in the market with grocery list and not follow through. I think sticking to the list is a must.
- Not planning ahead-
- Medical Emergencies- this one is very possible and it’s sad because health is very important. Last February, I went to the ER for chest pain and that incurred me $5,000.00 in medical bills.
- Lack of self control- I always here when I am in depressive mood. My defenses are weak, so when I am sad and lonely, I tend to spend more to comfort myself and buying and spending really makes me feel good for a short while, and down again when I calculated how much I spent. It’s a vicious cycle.
- Not sticking to the plan plans changing on whims- Stick to the plan. No matter how weak, sad, lonely, hungry you are, stick to the plan of budgeting. Imagine the feeling of happiness you’ll feel when you are able to add extra payment to your mortgage, or paying extra on your credit card. That will be a glorious feeling. SO LET’S STICK TO IT.
How about you? What make you fail in your budget?