Budgeting for the overspender

img_1275I just bought a car!! (Eep) It was such an  exciting moment and I was able to do it all on my own which was super important to me. I decided to write some ways I was able to save money without losing out on the things I loved. This helps with big purchases or even just budgeting for Christmas gifts to get everyone you love something they will love. 

I put into savings how much I wanted to spend a month on a car payment, or whatever it is you’re saving up for. Put away the money now, so when the time comes you are already accustomed to that money being taken out. It won’t put such a hole in your pocket.

Plan, plan, plan! Write down on a piece of paper how much you bring home a month, then subtract your necessities like bills  gas or the savings. Then think of the things you need to buy like for Christmas budget how much you are going to spend on each person specifically, subtract that and you will have how much “leftover” money you have. You can use that money to buy your Starbucks or a cute new sweater.

Prioritize. Think about all that you want, but prioritize what is important to you and what isn’t. Are the cute shorts really worth it if that means not getting that big purchase you want? This also becomes an issue when it comes to sales. I almost always cave to sales, I look at that price reduction and think, man I need that. But, do you really need that even if it is 60% off? Do you really have it in the budget and do you really want it. I always ask myself these questions:

Would I want to pay full price for this?

Is this something I really need?

What can I not buy so I can get this?

Ask yourself those questions before purchasing something and budget your month so you know where every penny is going to go or will go! You will be shocked at how much you can stretch your dollar when you know where it is going!

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s