Have you ever been going so strong with your budget and kickin ass, being super consistent and making the progress to be DebtFree AF? And then all of a sudden – you run out of paper towels. Normally, you would just buy them on Amazon, but for some reason, the temptation of just “running into Target” sounds appealing. And then it’s like BAM! You walk out of Target spending $75 on Lord knows what. Oh and you probably didn’t get paper towels.
That was literally me last week. I haven’t gone to Target in months, specifically because I know I overspend every time I go in. Even when I only buy what’s on my list, it blows my budget every time. I’ve gotten better at *mostly* sticking to list, but I’m still going over budget; there has to be a better way right?
So now I have to talk about spending triggers. These are the things that you know, no matter how hard you try, you’re pretty much always going to break the budget on them. If you know off the top of your head what they are, you might try avoiding them altogether. But is that really sustainable? What do you do about them? They’re usually the things you love, and really, the point of having a budget is not to cut everything you love out of your life. I’ve tried it that way, and let’s be real, it takes the fun out of living life (cus YOLO right?) Most people get bogged down and give up after awhile. What’s the point in becoming financially free if you don’t experience freedom in the process? Instead of becoming a hermit and never coming out again, I’ve come up with my three tips to killing budget busters in my life.
Step one: figure out what your triggers are.
Do you go to the mall a lot? Do you love Target? Do you like to go out for drinks with friends on a regular basis? When I first started my journey, these were the 3 things that were going to blow my budget no matter how hard I tried. Plan A? Avoid them altogether. However that failed, because let’s be real, sometimes I just get a craving to be inside a Target (just me? Oh okay). So what are the triggers for you? Let’s start with a look at your bank statements. If there’s a purchase that keeps popping up or something you can think might be a trigger, (Amazon charges anyone?) highlight that line in YELLOW.
How do you know if you should highlight it? Ask yourself the following questions: Is this someplace/an activity you frequent? Do you remember what you purchased? Do you ever wake up the next day with a spending hangover wondering what the heck you even bought? THAT’S definitely a trigger.
Once you have an idea of what these are and they’re all highlighted, just start paying attention to what happens when you spend in those places. I’m not saying to ditch them, but perk your ears when it’s time to buy these things. Like I said above, the triggers are almost always things you love, so now that you’re listening…
Step two: figure out WHY these triggers happen.
I used to love shopping at the mall. Once I figured out this was a trigger for my budget, I began paying more attention when I had the urge to splurge. By just increasing my awareness, I noticed when I was upset, I immediately wanted to spend money. Bad day at work? Boy problems? Overwhelm at the giant to do list in front of me? All of these can be solved with new clothes, I was preettyyy certain about that. So why is it that these purchases show up for you?
Since you’re on the lookout for these, a few questions you can ask yourself are: What happened this week that makes me want this? Is this an item/event I actually want to spend on? Do I feel compelled to spend to keep up with others? Who else is involved in this purchase? Using these questions, you now know where you budget busters are, and have an idea of what’s causing them. Which leads us to…
Step three: figure out how to control these triggers.
The answer to this is going to be really personal based on you budget flexibility and where you are in your financial journey; that’s the number 1 key to your finances. For me, when it comes to the mall, I pretty much just stay away altogether. I no longer go there to spend free time; if I go in at all it’s because I have a very specific purchase I’m looking for so I get in and get out as fast as I can. I even speed walk and swerve around the slow folks. In addition, I use the fuel from whatever I’m upset about to change my actions. Instead of buying new clothes, I’ve developed the habit of going through my closet to look for seldom worn items and get rid of some items I don’t wear anymore – it’s a great cleansing activity, feels like I went shopping and I remember why I don’t need anything new to feel good about myself again!
So, possible answer number 1: if it’s something you can live without, just avoid it until your budget looks different. Channel that “why I’m spending” energy into something more productive and develop a new habit.
On the other hand, there’s another option that might be better. Final example for myself, going out with friends is a whole other budget monster. I am that girl at the bar who has a drink or two and becomes Oprah – “you get a drink, you get a drink, everyone, drinks on me!!” This led to both financial and literal hangovers. However, it’s not something I want to cut. I adore going out with friends, I want to spend time with them, it makes me happy to being generous with others, and it’s always a ton of fun.
Instead of cutting it out, I add a line item to my budget. I spend a ton less than I used to because I’ve already taken that money out in cash, so at least I’ve planned for it. It’s also made me be more creative. When that fund is too low for a night out, I now have a reason to do other things I love. Through this, I discovered I love having those friends over to my home for a meal and drinks a million times more than a night out. The joy of spending time with my peeps doesn’t have to go away just because I’m on a budget. However, like I said, this might be something you cut for a month or two until you have a little more flexibility in your budget.
Possible answer number 2: Add a smaller amount to your budget so you get to enjoy your trigger, without ruining your whole financial plan for the month.
So let’s wrap this up! The 3 steps to killing your budget busters are to 1. Identify the trigger, 2. Identify the reason it’s an issue and 3. Either cut it out and use your energy in a better way, or, add it to the budget in a more controlled way.
What ways have you been able to identify and kill off some spending triggers of your own? Is there anything else you’d recommend to people struggling with some budget busters? Leave a comment below!
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