Exception Report: Night out breaks budget big time

Okay I made a massive blunder this weekend.

I spent over £150 on a night out.

I wish I could say I don’t know how it happened but I do. I knew the place we were going was expensive but I went anyway; and whilst there I spent like there was no tomorrow.

Do I regret it? Yes.

I wish I had not been so silly.

I wish I had thought it through properly beforehand.

Also, perhaps I wasn’t monitoring my budget closely on a daily basis as much in the last few days hence my slackness.

Either way it has happened.

The lesson here is this:

• Keep daily tabs on expenses so I feel the strain of where I am and what I can afford.
• Think before you act – how much are you likely to spend, is it a good financial decision right now?
• Going to a cheaper place doesn’t mean less quality or less enjoyment. You can have a better time and only have spent £50 or less.

I’ve made this kind of mistake before. I need to learn from it and not make the same kind of decision again.

Let the budget guide your planned spending!

Find the money first before committing to a spending decision. If you can’t set aside the money in the budget, you can’t afford it.

Do your research so you’re not caught off-guard.