Have you ever thought about starting a budget, but thought you didn’t have enough time?
One silver lining of this coronavirus pandemic is that for the first time, healthcare workers are finding ourselves with ample time to be at home. Whether it is from furloughs or from the loss of elective surgeries, most doctors are seeing a lot less volume than they are used to.
Of course, the loss of income that comes with fewer hours worked is stressful. I’m sure many of us are losing sleep from the stress of the unknown. As such, I’m compelled to give you a way to take back control and make yourself less stressed out about money.
Why This is a Great Time to Start a Budget
Thankfully, we don’t have too much to blow our money on right now (unless you’re binging on the freebies/discount post). Generally speaking, our expenses are probably as simplified as they’ll ever get right now- No risk of expenses from parties to throw, no chance of travel.
So, it’s a relatively easy time to learn how to start tracking your spending.
Once you see what you’re spending your money on, it’s relatively easy to start optimizing particular categories.
For example, this would be a great time to start to price shop car insurance to see if there are any better deals. Or we could look around for better interest rates on our private student loans. We have time, why not try to optimize the fixed spending now so that we continue to save that money, month over month, even when we’re busy again?
The Hardest Part is Getting Started
Like learning how to ride a bike, starting with a budget can feel unnatural and awkward at first. It is helpful if someone is there to catch you if you fall and get you back on the bike. Pretty soon, it becomes second nature and you can’t forget the skill, even if you tried.
That’s what my new course is about. My course contains 7 in-depth how to videos where I show you exactly how to get started. I will also provide you with a template for a budget that has built in formulas for you. We will get you up and doing money wheelies in no time!
Budgeting is Effective
Listen, no one likes the word budgeting. But, if you’re looking to change how much money you save right now, you’re going to have to make a change in the way you spend money. If you want a different result, you have to do something different. There are a lot of roadblocks right now in increasing income. Cutting spending is immediate and building good habits is long lasting.
When you start tracking your spending, you can easily see where the discretionary spending is excessive. You can also see that the result of cutting spending of fixed expenses is amazing.
Now is the time to optimize the fixed spending.
Soon, things will open up again and we’ll go back to our usual way of spending. If you’re already tracking your expenses, you’ll see exactly how your spending increases. And, you’ll know where you can cut back.
If you’re an over-spender, the budget is a diagnostic exercise to help you find the habits you need to change. That’s how I went from being a spender to a saver.
Budgeting Relieves Stress
What I love about budgeting is that it takes the constant stress of the question “Are we spending too much?” out of the equation.
When we sit down and track everything at the end of the month and I see that we are meeting our goals, then I can rest easy. If there is a big expense coming up, I plan for it in my budget. It gives me a sense of peace knowing that I have a budget for the expense- which is much different than the saying “I’m on a budget.”
A Budget is About Freedom from Money Stress
A budget gives you the freedom to enjoy life’s little moments, without having to feel guilty about spending money. It gives you freedom from stress. It is not about restriction, it is about diagnosing and monitoring how you family can optimally spend money to increase your happiness, while meeting your money goals.
For example, if you do want to indulge in some COVID discounts, we’ll just build in a couple of hundred dollars a month for fun purchases. Then, we can have what we want and still not stress about it!
So what are you waiting for? Get started.
If you’re experiencing a decrease in your income because of the pandemic, write to me and I’ll give you the course for free. I’m here to help you!
Ready to save more and stress less? Let’s get this done.
Stay Frugal, Y’all!
Disha
Standard Disclaimer: Not meant as individualized financial or medical advice. This post contains affiliate links.
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