Episode 81: 11 Ways to Get Your Budget Back on Track
What You’ll Learn
STOP spending. (01:34)
Practice "no" and "not this time." (02:23)
Cut back on the "easy" stuff. (03:18)
Be a team WITH your husband. (05:02)
Check on those large-ticket bills for possible reductions. (06:44)
Organize your pantry…then eat from it. (07:38)
Sell stuff! (08:19)
Check your emotions around money! (09:00)
Learn what events trigger your spending. (09:46)
Keep your "why" at the forefront! (11:55)
Check in with your grocery budget. (12:50)
Recap (13:45)
Invitation (14:38)
We say it all the time, life happens and I think anyone would agree that there's been A LOT OF LIFE happening the past few years. Between the entire world shutting down for a bit...prices running wild....unexpected layoffs....and just the normal life transitions that we're all expected to navigate...it's been a bit hard even for seasoned budgeters to keep everything in the green.
So, knowing that mucking up your budget is really a part of life…how do you get back on track when you do?
This list is not to bring shame, or guilt you about falling off the bandwagon … it's really about being real about where you are, deciding to do something different, and moving forward with small deliberate ACTION.
Shame and guilt don't deserve a ticket on this train
STOP spending (but beware of whiplash spending).
Start with a 24 hour spending freeze.
Next try a 3 day spending freeze.
Usually what we need to do is stop the cycle and give our real priorities a chance to come back to the forefront. A small break gives us time to breathe (to recognize that we aren't going to fall apart if we don't buy that thing we think or believe will make us happier) and to reconnect with our why.
Start saying "no" or "not this time" to …yourself, AND your kids.
*Caveat* use good words….don't use can't…when you say can't…we are naturally inclined to look for a way to make up for that loss…it strips the power from us. I don't changes that narrative
No: There is so much power in learning how to deny yourself…the impact isn't just financial…it's spiritual, it's physical, it's mental…it's impact is felt everywhere.
Not this time: Allows you space to make a deliberate choice, leaves room for hope.
Cut back or pause the "easy" stuff (temporarily).
Subscriptions (Printer, Surprise boxes, Hulu, subscribe & save, video games, meals, ).
Little purchases (itunes, apple games, checkout goodies, special drinks, snacks).
Driving (save gas and combine trips, carpool, reduce places you're going).
Sit down with your husband – have a coming to Jesus talk if needed.
**Make sure you're both well fed and in a good mood when you start…maybe get an ice cream**
Be very open with where you are and make decisions together about where you need to get to.
Leave blame out…you aren't your husband's greatest critic…you are his greatest teammate…be a scientist and look at just the facts.
Check on those large-ticket bills (insurances, household services, etc).
**Choose one big-ticket bill per week or one a month to tackle making changes with.
Can you switch providers for a more reasonable rate? Cell phone, internet, pest control, landscaping, home insurance, car insurance, vets, pool service…
Can you ask about bi-annual payment/subscription discounts (for everything)?
Cut down from bi-monthly to quarterly or bi-annual to annual.
Organize your pantry…then eat from it!
We often have enough food to survive the week within our own pantries and fridge/freezers…
An organized pantry ensures you aren't buying what you don't need and familiarity with its contents means you're buying less and wasting less because you're using what you have.
Every month we should be checking and rotating items out because THIS is a very quick and easy way to save money -- This week (spent $140 instead of $250).
Sell stuff (Funkos anyone) - double duty of cleaning things out!
Consignment (drop and run)
Marketplace
Yard Sale
Bikes/skateboards/wagons/strollers (in the garage)
Check your emotions around money…it's never about the $$
What is your relationship with money?
When you stop to think about money do you have a tenuous relationship? Do you believe negative scarce thoughts about money? Are you willingly oblivious? Are you using money as therapy?
Consider when you've made unplanned purchases (not just that candy bar at the grocery store…but maybe all the times you were floundering and buying something on amazon with the hopes that it would fix x, y , & z in your house and make it work better for you and your family…) what were the thoughts surrounding the purchase? I am willing to bet they were broken soundtracks.
Learn what events trigger you to spend
Appointments trigger eating out (because you're not planning ahead).
The $$ section or clearance at Target.
Being hungry when you're grocery shopping.
Facebook ads or IG ads/influencers/emails from companies you really want to buy from.
Whiny kids.
Comparison.
A discouraged or disappointed husband.
Guilt!!!
Obligation (your friend's MLM or business -- we don't always have to support people financially, share their events, share testimonials, share THEM -- birthdays/gifts/holidays).
Create a new response to those triggers.
Keep your "why" at the forefront (paste that s#!t everywhere)!
This is going keep you intentional about protecting your why and weighing your spending.
Your why should be a daily conversation in your house….with your family…with your friends!
You should be connecting with it constantly!
Make it visual…tangible…put it everywhere.
Speak it to yourself in the mirror (yes, you are going to feel weird doing that).
Check in with your grocery budget
Your grocery budget is THE. SINGLE. LARGEST variable expense in your budget…and that means it's the one we have THE MOST control over. And this is good news!
You need to be real about how much you're spending, I don't care if you don't really want to know…you need to. It's just an adulty thing to do. No guilt, no shame, no told-you-so's, but you need a relationship with how much you are spending on food.
Next take a serious look at what you can eat from your pantry and see how little you can spend for groceries for the next week.
Repeat.
RECAP
STOP spending
Practice "no" and "not this time"
Cut back on the "easy" stuff
Be a team WITH your husband
Check on those large-ticket bills for possible reductions
Organize your pantry…then eat from it
Sell stuff!
Check your emotions around money!
Learn what events triggers your spending.
Keep your "why" at the forefront!
Check in with your grocery budget
Invitation
One wonderful way to support our momma friends is to let them know we're thinking about them when we're not together…we can do that by sending a text, sharing our favorite pin that made us think of them, OR by sharing a podcast we think they'd like! Today we'd like you to share our podcast with your two closest friends…is there an episode you've loved? SHARE IT!
And don't forget…
YOU are doing beautiful work momma!
