For most people the word budgeting conjures up feelings of deprivation and self denial. We far prefer the concept of joy-based living and spending to traditional budgeting. But living the good life on a budget. Is still possible. Here’s a joyful way to look at budgeting and the good life. Instead of telling yourself all the things you shouldn’t spend your money on, you focus on maximizing the amount of joy you get out of each dollar you do spend. Rather than allocating spending restraints to drain your will power and sap your serenity, you focus on deliberately increasing your happiness through targeted, deliberate spending.
It’s generally not how much you earn that’s the problem, it’s how much you spend. Women are more likely to succumb to social pressures to spend. You may be earning $1 million per annum but if you’re also spending $1 million a year, you’re still broke.
Increasingly, we’ve come to believe that knowing your financial inflows and outflows are on of the most powerful relievers of financial stress. Across a wide range of income spectrums, lots of us have no idea what we are really spending and those of us that report being mindful, conscious and deliberate about changing that behavior has made us feel much more in control of our financial lives.
Cut back on your shopping
Don’t’ go shopping centers to fill in time. Do something fun or worthwhile instead. Don’t think something you bought didn’t cost enough.
Don’t buy when you’re blue
It’s a recipe for disaster from a style and financial perspective. Shopping like sugar, it’s effect is short term, followed by deeper lows.
Steer clear of sales
They go to your head and you end up with wardrobes and cupboards full of ‘bargain’ items you never use. Use bargains to snap up one or two household staples, only.
Make a list
Before you go to the supermarket.
Buy only things you need
And train yourself to turn away from the things you merely want. Is a new pair of shoes in a colour you already own, or another candle cake stand, plasma TV, game, tablecloth or placemat going to change yout life? Probably not.
Don’t be bullied into spending
When people suggest a big group present and try to push you into an extravagant share, make your excuses and say you’ve already bought a ver, special, personal something.
Price tags don’t matter
Don’t think something you bought didn’t cost enough. If a present is aimed squarely at its recipient and is wrapped with love, its price tag doesn’t matter.
No reciprocation
If friends or distant relatives are in the habit of giving you an unnecessary annual present and you feel pressured to reciprocate, resist.
