I’ve got a lot to learn still about how I spend money.
Spending less doesn’t just happen as a result of setting a lower budget. I knew it was going to be tight this month when I set up the budget. I mentioned that in that post:
£1,634.40 is the lowest ever run rate I’ve set for personal expenses. I know it is doable because a lot of people in my position (and probably with more obligations than I) live on less than that. Up until now, I haven’t been able to do it. It will be a challenge for me. There are things I still want to do this month like getting back into working out at the gym and eating out with friends which all cost money. I’m going to have to take a hard look at all that I’ve got on and see where compromises can be made to meet this figure. I know for sure that if I do nothing, and keep living like I did last month, I certainly won’t be able to do it. But if I’m proactive and take steps to cut things or uncommit from things then it is entirely possible.
– Nov 21 budget
Yet nothing is exactly what I ended up doing. I set a low budget but didn’t cut any expenses. In fact I kept living and making decisions in the same way I made them last month. So of course it was inevitable that I would end up blowing my budget.
It’s not enough to just set the budget, I need to be proactive about recurring expenses I’m going to cut and what extraordinary expenses I’m not going to spend on. None of the pre-planning happened hence why I find myself over-budget yet again this month.
I will have to think up an easier way to nudge down my expenses each month bit by bit.
Oh by the way, next month is Christmas—good luck with that.
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