Tips for mindful spending in action, and budgeting ideas you’ll actually stick to.
📸 Credit: Pinterest
We’ll be the first to admit it: Budgeting can really suck the life out of ya.
First off, most budgeting advice out there are one-size-fits-all solutions that make zero sense when you apply them IRL. And they’re super complicated! Save 20% of income, don’t spend over 50% on rent, keep 5% for retirement. Sure, we got calculators on our phone, but seriously? No way.
Lastly: It puts you in a weird mindset, like you need to cut things *out* of your budget. And we have a BIG problem with that. You’re making money. You worked hard for it. We want you to enjoy it!
We created a Mini Budget method with easy-to-calculate, easy-to-remember, personalized-to-you numbers. If you’re into money planning that *actually* make sense, bookmark that page first.
If ANY kind of budgeting feels too much for you, we got you.
We’ll cover major tips on how to create mindful spending habits you can try instead – and list a few ideas for inspiration on how you can start to save and spend money differently. (I mean, who doesn’t love a good list?)
Your weekly $100 dinners out with girlfriends won’t stop you from achieving you bigger goals. And cutting out your morning lattes certainly won’t move the needle. There, we said it.
This is what the financial industry doesn’t want you to know: With a few smart money moves, you can live the life you want – *and* save for your future – without feeling like an old miser who needs to collect newspaper coupons for weekly cash savings.
Plus, you don’t need a finance degree to make smart money moves. We know you are entrepreneurial; every woman is. We figure it out. Always. Yeah, we’re that smart.
So, can’t imagine forgoing that daily salad that helps you stay *super* healthy? You don’t have to.
Figure out how to fund it, instead.
Here are some ideas to get you started!
Finally, a SPEND ON WHATEVER YOU WANT fun budget!
(Repeated, in caps, in case you didn’t think you read that right.)
Pick *ONE number* for your fun, do-whatever-you-want-with budget.
This number is the absolute MAX you get to spend on fun stuff.
If you’re familiar with our Mini Budget exercise, this just-for-fun number is ideally what’s left-over after you subtracted all your expenses. But you can also work the other way around: Pick your fun-budget number first, and see what happens when you stick with it.
(*Crash Course: your Mini Budget = your paycheck (after tax), minus must-pay and must-have items, minus retirement savings. Your fun money is whatever is left over to save, spend, and invest to your heart’s content. Click here for a full step-by-step breakdown on how to do this)
With traditional budgeting, you need to memorize how much you wanted to spend: $60 on Ubers/taxis, $200 on shopping, $100 at hair salon, but also $150 for personal care, etc. …Honestly, it’s exhausting. How on earth can you live your life *and* keep up with the laundry list of budgets?
When you have ONE fun budget number to focus on, it is WAY easier to remember that’s what you need to stay under (and actually commit to it).
You’ll be surprised how easy it is to cut things out – including stuff you didn’t even realize you were spending a small fortune on.
When you know how much you have to play, it’s easier to prioritize your expenses.
Maybe you are booking a vacation that eats up three months of your fun budget. Now you know you gotta lay low to get that Tulum sun. It is a balance. There is power in just knowing you can do it.
Side note from Crissi – “I LOVE shopping. Obsessed. Can’t stop. Won’t stop. Receiving a box from Revolve is better than anything else in the world. So…. I am not going to stop. But I picked one number. $500 a month. And I use my $500 a month wisely. You think $500 is a lot? It is not -2 shirts, 1 pair of jeans, and it’s gone. I have become sooo intentional about which 3 things I get to have. I have to think about it multiple times before I purchase. I can heart as many things as I want, and that is bliss in itself. Then, after spending my $500 limit, I delete the app from my phone. It is hard. Really hard. Trade off? I got the apartment with the bathtub and big-ass windows. Because that brings me more happiness at the end of the day than a new tee. Living that dream means I gotta draw the line somewhere, and that somewhere I spend absurd amounts of $ is shopping.”
If you don’t know where to spend it yet, save it for later – or even better, invest it and watch it grow
We get it! You gotta eat, live, work, play – and sometimes your paycheck isn’t quite where it needs to be yet. Honestly, sometimes cutting back in one area is also a good excuse to spend more in something we really care about. (Did someone say designer bags on sale? Yes, please!)
Use these hacks to save in places you never thought you could:
Be mindful of your spending, and don’t be afraid to get creative. If you need to scale back, don’t default to cut out mani-pedis, facials, massage. Life is hard. Treat yourself. Enjoy every second of it. Dance your way to the nail salon, and dream of what color you are going to pick. We’re here for it.
What are your money and lifestyle hacks? Do you have other lifestyle tips for better budgeting? Email us at firstname.lastname@example.org.
Figuring out the most sustainable strategy is key. Not sure what your fun budget should be? Our money quiz can get you started.