I Went Over My Budget… A Personal Confession
Do you every have those months where you go way over your budget?
It happens to the best of us, whether we have unexpected expenses that we can’t avoid like a car maintenance or we just want to indulge a little for ourselves!
That’s what happened to me last month. I usually track my finances and my spending in a detailed excel spreadsheet but the 10th of the month I hadn’t written down what I had spent. There was no way that I could remember what I spent so I just stopped tracking for the month.
It was one of those months where I just had all these extra expenses. Starting with my own shopping, I found myself walking out of a cosmetics store having spent over $300 on makeup. I also bought two pairs of boots for the fall and quite a few gifts for my niece and my nephews. It was also time to renew my passport, which I did for the next ten years. Add a massage to the mix and there went my carefully planned budget!
Did I feel bad about the overspending? Not at all!
Here’s why I didn’t feel bad. . . I didn’t go into debt so I was only spending money that I knew that I already had. This is really important! If not paying attention to your spending will result in debt and having to pay interest, tracking is a must. Always.
It’s okay once in a while to spend more than you had planned for in your budget. That’s what last month was for me. If your checking account looks a little bit low, you just know that you’ve got to be a little bit more careful the next month
I just don’t want you to feel guilty. Money is not supposed to make you feel bad. It’s supposed to be something you can enjoy. Of course you can feel a little guilty if you are not keeping an eye on your spending and watching that you don’t keep over-spending but otherwise you should not feel bad if once in a while you splurge.
As long as you don’t go into debt, you will have peace of mind knowing that you’ve got money put away for the future.
You should have an emergency fund so that you are prepared for those unexpected costs that inevitably sneak up on us all. Life has its ups and downs and so you need to be prepared for the financial implications.
With a solid plan, you can enjoy your life while making sure you’re not spending yourself into crazy debt!