The road from restrictive spending to binge spending is short and well tracked, which is why extreme budgeting has never worked really well for me. I like this concept of reverse budgeting to be mindful without putting your money (and yourself) in a box.
I’ve also learning how much I hate spending money on anything I don’t care that much about, keeping that in mind with every purchase has helped me be more financially responsible and able to afford what I *really* want.
I like this reflective approach to monthly spend!! Whenever i try to set a structured budget for myself i always always always break it and end up spending way more than i would have originally without the budget. There’s gotta be some kind of psychology explanation for this, like revenge spending to retaliate against feeling too restricted or something
This is exactly how I budget! I do have monthly general targets just to help me eyeball how the month will likely add up for costs I can guess at in advance, but they’re very flexible.
I love this idea, I’m going to try it! I always fail with budgets because things change so much month to month but I think it would be good for me to sit down and reflect on my spending each month to have a better mindset about my future spending. Thanks for sharing!
I also hate getting my nails done and love public transportation! But for real, I do think being generally more inclined to frugality just naturally (I love cooking at home, I don't love shopping, etc.) does lift some of the burden of having to budget more carefully. Also a big fan of the personal capital (now empower) app.
I use a combined method. I use a yearly\monthly I review to track assets, debts, and spending. I use a ledger to make sure I don't overdraw and to project any big incoming costs. And I am contemplating adding in something like Monarch or Quicken Simpliciti so I don't have to manually enter everything, which takes me several hours each month.
In the past I've done what you're doing, and it worked so well for me! But, then I got in a serious accident and have a brain injury. Then, a year later I had a baby and he didn't sleep through the night until 5 years old. So, that method wasn't sustainable any more for me.
In the past, I tried YNAB and HATE it. And 10 or 15 years ago, I used Mint and loved it. I don't recall why I stopped, actually.
I've heard of YNAB but never tried it! I've only heard good things, what didn't you like about it? And yeah, this method is pretty time consuming. Definitely makes sense to use something else that's automated to save time!
It's very clunky for anyone who isn't cash-only (it's a Dave Ramsey product). They know it, and they like it that way. And I abhor legalistic product teams who impede meeting their customers' needs as a result of their personal principles.
The road from restrictive spending to binge spending is short and well tracked, which is why extreme budgeting has never worked really well for me. I like this concept of reverse budgeting to be mindful without putting your money (and yourself) in a box.
I’ve also learning how much I hate spending money on anything I don’t care that much about, keeping that in mind with every purchase has helped me be more financially responsible and able to afford what I *really* want.
Yes, so true!! Intentional spending is so important.
Also, I just saw your order!! Thanks for supporting my small biz and I'm so excited for you to get to try the game!
I like this reflective approach to monthly spend!! Whenever i try to set a structured budget for myself i always always always break it and end up spending way more than i would have originally without the budget. There’s gotta be some kind of psychology explanation for this, like revenge spending to retaliate against feeling too restricted or something
yes!! I've wanted to try a no/low spend week/month, but I'm nervous it'll turn into a high spend week/month right after
This is similar to how I “budget” except I use Airtable.
This is exactly how I budget! I do have monthly general targets just to help me eyeball how the month will likely add up for costs I can guess at in advance, but they’re very flexible.
I love this idea, I’m going to try it! I always fail with budgets because things change so much month to month but I think it would be good for me to sit down and reflect on my spending each month to have a better mindset about my future spending. Thanks for sharing!
I also hate getting my nails done and love public transportation! But for real, I do think being generally more inclined to frugality just naturally (I love cooking at home, I don't love shopping, etc.) does lift some of the burden of having to budget more carefully. Also a big fan of the personal capital (now empower) app.
This is very interesting, great to see you have found a way to budget and analyse your spending to suit your lifestyle.
I use a combined method. I use a yearly\monthly I review to track assets, debts, and spending. I use a ledger to make sure I don't overdraw and to project any big incoming costs. And I am contemplating adding in something like Monarch or Quicken Simpliciti so I don't have to manually enter everything, which takes me several hours each month.
In the past I've done what you're doing, and it worked so well for me! But, then I got in a serious accident and have a brain injury. Then, a year later I had a baby and he didn't sleep through the night until 5 years old. So, that method wasn't sustainable any more for me.
In the past, I tried YNAB and HATE it. And 10 or 15 years ago, I used Mint and loved it. I don't recall why I stopped, actually.
I've heard of YNAB but never tried it! I've only heard good things, what didn't you like about it? And yeah, this method is pretty time consuming. Definitely makes sense to use something else that's automated to save time!
It's very clunky for anyone who isn't cash-only (it's a Dave Ramsey product). They know it, and they like it that way. And I abhor legalistic product teams who impede meeting their customers' needs as a result of their personal principles.
Oh wow, that's tough! I spend maybe $100 max in cash each month and I feel like that's more than a lot of people I know! That's not a great system
*upcoming costs, not incoming lol