What do you do when you’ve started taking control of your finances and are getting a grasp on the terminology, the changes in behaviors, and just what personal finance is in general but then your budgeting becomes slow?
You have created a budget. You’ve sat down and looked at how much debt their is to tackle, the income that comes into your household each month and figured out how much is going out each month and how much should be going out each month. You’ve stuck to the budget more or less. You’ve reviewed the budget each month and made changes where necessary but it still feels slow.
You did it. You made a budget. You stick to it. Now what? Why is the debt not immediately being slayed? Why is financial independence not right around the corner? Why does it feel so slow and how do all these other people do it so fast?
That’s how it feels right now. We are coming up on month three of budgeting. The original budget we made was pretty easy to stick to because it became a keystone habit for us and we made drastic changes throughout every aspect of our life. But, now what?
What to do when Budgeting Becomes Slow
We make the budget for each month, trying to add in anything that may be unexpected for the month. We review the budget from last month to see if anything needs to be changed and then…that’s it. That’s budgeting. Everything feels under control but it doesn’t feel like the debt is getting paid down any quicker or that the savings is growing at any significant rate. It just feels slow. Really, really slow.
Should you flip the budget and make your food budget $400 for the month for a family of four just to see if you can do it?
Do you add colors and headings to the excel sheet that you budget on? Do you change the categories of the budget so that they become “fun names”? Or is this just what happens when budgeting becomes slow.
When budgeting becomes slow, it’s a good thing. It means the first step of personal finance is mastered and this is the time to delve into learning other topics. Topics that you should become familiar with so you’re ready to deal with them when the time comes.
Remember how scary budgeting was in the beginning?
Think about how much more relaxed everything is now though with a budget. Use this time and invest in your knowledge of personal finance. That way, when the time comes, you’ll be ready for the next step.
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