My Mommy's Neighborhood

My Mommy's Neighborhood -

Spending Priorities

This is where my budget really came in handy. You can’t set priorities if you are unclear on your habits as making any changes will be hard.  I will admit that this is a hard one for me as I like a good sale. I just keep reminding myself that just because it is on sale does not mean I have to buy it.

Using my budget and the envelope system, setting spending priorities was easier than I thought. The challenge will be sticking to it but it has made me seek out creative ways to cut cost.

Once a month, I sit with my family and we discuss our spending for the following month and create a plan to see if we can beat the previous month. It is funny to shop with the kids and they say that we can’t buy something because it is not on sale or we don’t have a coupon.

Have you set your spending priorities?

Wealthy Wednesday- Why I Need A Budget

budget-thumb-425x265-608Have you ever taken a real heard look at where your money goes? After a series of setbacks, I realized that it was time to figure out why there seemed to be more month than money. Living paycheck to paycheck seems to be the standard way of living for many but it doesn’t work for me.   This is exactly why I need a budget!

This week, I examined all financial statements for the last six months to track my spending habits. Using an excel spreadsheet, I broke everything down into categories and used an average monthly amount to determine what goes out and what comes in.  The financial picture it painted was no masterpiece but it has given the basis of a budget.

Do you have a budget?