“Money, plastic, youth and debt” by qwurky
The good girl in question – me. I have finally put myself on a budget, and seem to be keeping at it relatively well. Now that I am on one, it boggles my mind how I ever managed to survive before, spending money haphazardly with no rhyme or reason.
I am happy to announce that not only am I on a budget, but I am still alive and happy, and most importantly, still able to afford the things I want. And since I know that generally, the thought of trying to “Budget” throws the fashion-allured into shock, I would like to pass on my methods for a pain-free induced budget lifestyle.
Step 1: Get the Supplies
This step allows you to shop! Now, try as hard as you can not to buy an LV purse on your way to the stationary store, and grab yourself the following supplies.
- Cash Book (This is one of those books with all the weird lines in it, to help you add up figures. It looks nothing at all like an LV purse, but nice try.)
- Envelopes
- A Calculator
- Something small and plastic to store receipts in, that will fit nicely in that new LV purse 
You now have everything you need to start a budget!
Step 2: Learn the Damage
This week is relatively painless – you don’t need to stop shopping (yet), you are just going to keep track of it. For this week, each time you buy something, put the receipt in your little receipt receptacle. At the end of the week, pop that baby out and start adding up all the receipts. Break the receipts into 3 categories: Dining Out, Purchases, Necessities (groceries,toiletries). If you have another category that fits into your life (transportation, coffee) go ahead and add that one as well. Now, separate those receipts you have accumulated according to their corresponding rows, and start adding the numbers.
When you are finished, have a stiff drink.
Just kidding Though what you discover may surprise you. It’s sometimes distressing to learn just how much we are giving Starbucks each week, or how much exactly all those little accessories we treat ourselves with can add up to. Do not be discouraged: the reason you decided to create a budget was to stop just this sort of cash-loss, and knowing is truly half the battle.
Now that you know the numbers, you can start making some real lifestyle decisions. For instance, if coffee is your crutch, do you really need to buy it at a shop? The choice to invest in a simple coffee machine can save you hundreds of dollars, and move you into the realm of financial security. If dining out is what gets you, then make the commitment to start bagging your lunches and cooking at home. These small changes can save you loads of cash, and require no budget to create an impact.
However, if like me, general shoppiness is your problem, you are probably going to need to budget some stuff (stop shaking, it’s going to be ok:). Now, if you are going to budget, you are going to need to make some decisions, the most important being “HOW MUCH?”. By “How Much?” I mean, how much would you ideally like to spend each week? The ideal amount should be one that both allows you to start saving, but also makes you feel like you are not enslaved into not buying anything. You can use the past week’s purchases to help guide your decision in this area. The next thing you have to decide is the rules of what exactly it is you are budgeting. Is it just clothes, or should meals be thrown into the mix? What about necessary purchases, like new hosiery or undergarments? Keep in mind, it’s ok to have allowances, so long as they are set allowances. It is better to determine these things now, than to start making them after you establish the budget, as that is the sure way to start slipping.
Step 3: Living la Vida Budget
You now have a budget! Now you need to follow it. You will still continue saving your receipts for the items you have decided should be within the realms of your budget, only now you will be adding them each day instead of weekly. Once you reach your limit in your cash book, you have to stop buying that week, or you have to put the money you do spend against the money alotted to you for the upcoming week (be careful about this practice: using it too often is a sure way to break a budget). I personally reserve overdrafts only for instances where the item I totally covet may not be there next week to claim.
Now, I am sure you want to know what to do about splurges. You know, that camera you really, really want, or that special piece of clothing you can’t live without. There are going to be things you want outside your budget, so what do you do? Well, you just have to save up for it, or commit not to buy stuff for a few weeks following the purchase. This sounds like torture, but it can actually be kinda fun, and makes the final acquisition of the coveted object all the more sweet, as you truly need to earn it.
Be Forgiving
I am going to tell you right now – you are going to slip. There will be a week where you accidentally blow your budget to smithereens, and you know what? That’s ok. Remember that you are putting yourself on a budget to improve your life, not make yourself miserable. As long as you keep trying to stay on a budget, you will be on a budget, and you will see results. Sometimes those results financial, and some more personal. For instance, getting in the habit of simply reconsidering a purchase before grabbing it up can impact what it is that you buy, and how you consider buying things in general. Budgets force you to do this, as suddenly you need to weigh the cost of the purchase against your ability to buy something later. By doing so, you will start to value things more by how much you want them, instead of whether you like them. And that, my friend, is the key to a budget – really treating yourself to the things that make you the happiest.
And that’s it! You know what to do – good luck!
