3 Budgeting Questions You Should Be Asking
One of my favorite parts about blogging is the reach that it provides to share resources and ideas with the world. People always ask me how I come up with blog post topics because you can only say so much about taking control of your finances and creating the life you want, right? No way!
If you are thinking about blogging, have a blog, or even just wonder how I come up with blog posts, I get questions from readers and write about them. My non-negotiable with the blog is responding to 100% of communication and attempting to add value to someone’s life. I have met people from all over the world by doing this 🙂 .
Okay, so lately I have received several questions about budgeting and I thought it would be beneficial to address them in a blog post because if several people ask, others are probably asking them too.
3 Budgeting Questions You Should Be Asking:
1) Can I move money around within my budget categories?
This questions comes up all the time. “This week I didn’t buy as much at the grocery store, but I ate out one more time, than I had planned”. The answer is yes! If you have money free in another category, than move some things around and make it work for that week.
If you find yourself doing this every week, I would recommend adjusting your categories accordingly. For example, if you always have left over money in groceries and go over in eating out, readjust your budget and take some out of groceries and put a little more in eating out. This will help you stay organized and helps make sure you have a purpose for each dollar.
2) What happens if I go over? Or Under?
Go over budget?!? Who does that? 🙂 Everyone…there are some weeks where you may go over or better yet go under. This is usually when people quit budgeting because they lost (if budgeting is a game) and don’t know how to get back on track.
If you go over budget, ask yourself why/how it happened. Let’s say you drove a little extra last week and you went over in gas by $20. What I do is take $20 out of my eating out budget for the next week. At the end of the day, if you always go over budget you are not accomplishing the point of budgeting, which is to control your money.
If you go under budget, you could treat yourself the next week to something you want, or for me extra eating out money…YUM YUM Everyday :)...Or you could do the responsible thing and put it towards debt or savings haha.
Budgeting is like a game in my opinion. If you go over you have to hold yourself accountable and there is a “consequence” the following month or week.
For emergencies (Car issues, Medical, House things, etc.) be sure to have an emergency fund in place. Here are 5 ways to save $1000 Fast.
3) How do I have a life while budgeting?
Just because you are living with a budget, that doesn’t mean you have to live in isolation…that doesn’t sound too fun.
A budget is just a tool to give every dollar a purpose, so when you spend you don’t feel guilty about it.
I always recommend putting in something you enjoy for your weekly expenses. If you like to eat out, make sure you have that in there. Or maybe you like to get your nails done every month, or a massage, put it in the budget so you can really enjoy it and won’t feel guilty for spending money.
Also, try and plan out your week. If you know you are going out to eat this week then you may not need to spend as much at the grocery store and you can move things around to make it work.
Now, don’t go overboard, if you want to pay off debt or save money, the more money you have to put toward your goal the faster you will get there. However, the way you have a life while budgeting is by putting something you enjoy in the budget and making sure you do it.