Picture this: a client spending a whopping $2,675 a month without even realizing it. 😱 And that’s not even counting bills, debt, or savings! Sounds extreme, right? But here’s the kicker: overspending is a theme we’ve all heard before. We get it. It’s something that keeps cropping up as we speak to clients.
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🎙️ In fact, this all started from a question in our Facebook group, and we knew it was time to shine a light on it. So, let’s dive into the world of overspending. Yes, it’s a topic we can all relate to, and we’re here to make it amazing.
💡 Let’s talk about how to take control of your spending with three simple steps. It’s all about being informed, intentional, and in control.
Step 1: Face the Facts
🧐 First things first, you’ve got to know what you’re dealing with. Take a deep breath, and let’s figure out what you’re currently spending. Ask yourself these questions:
- What are you spending?
- What do you want to be spending?
📆 Take the last 90 days of your bank or credit card statements and dive in. Get some highlighters (because we know you love them!) and categorize your spending. Bills, debts, groceries, gas, personal money – highlight them all! You’ll be amazed by the clarity this brings.
✨ The “aha” moment here is crucial. It’s like shining a spotlight on your spending habits. Sometimes, it’s not as pretty as we’d like it to be, but that’s okay. You’re about to make progress.
Step 2: Create a Personal Spending Budget
👛 You need this. Seriously, a personal spending budget is your ticket to guilt-free spending. Set aside an amount just for you (and your spouse, if you have one). This is your pocket money. No guilt, no questions asked. You also won’t “stress spend” as much because you’ll always know in the back of your mind that spending money is coming into your pocket each payday.
🕊️ Now, you’re in control. You’ll know exactly how much you can spend without stressing. No more wondering if you can swipe that card. You might find this AUTOMATICALLY lessens your overspending. You’ve got a plan! Bonus points if you use cash for your spending money.
Step 3: Plan for the Expected and Unexpected
💰 Here’s where the magic happens. Take all those miscellaneous and unexpected expenses and put them in your budget. Yep, it’s time to plan for those too.
📅 Think about it: Christmas happens every year, birthdays too. Your car will need maintenance, and your printer will run out of ink. None of this is unexpected. Create line items for these in your budget so they stop robbing you every month!
✅ Now, when these expenses pop up, you’re prepared. No more last-minute panic or impulse spending. It’s all part of the plan.
📚 So, here’s the deal, amazing women: financial freedom is within your reach. You’ve got the tools to tackle overspending and take control of your finances.
🚀 But wait, there’s more! If you want a step-by-step guide to put all of this into action, check out our Budget Power Hour at myidealbalance.com/workshop. It’s a game-changer, and you’ll love how it simplifies your financial life.
