The Beauty of Budgeting

budgetI’ve long since been a big believer in budgets for managing personal finances. For me it started when I was back in university, trying to figure out how to pay tuition and rent and still have money left over to eat. It wasn’t always easy, that’s for sure. From there, I just sort of naturally continued to keep a budget in one form or another.

Todd, on the other hand, doesn’t have the best track record when it comes to managing money. That’s part of the reason why we continued to have separate finances up until about a year ago. Combining our finances and putting me in charge of things was one of the best financial decisions we’ve made as a couple. I realize that this may not be the answer for all married couples; but for us, it just works.

For the most part, for the past year, we’ve been following the same budget, tweaking things here and there as we discovered what was (and wasn’t) working. And then…we were thrown an unexpected financial curveball, that required we throw our entire budget out the window.

…or did it?

The beauty of having a solid budget in place meant that I was able to, rather easily, sit down and figure out where to start making cuts. I knew exactly how much money I had to squeeze out of the current budget, and began chopping away at any non-essentials, and lowering the amounts allotted to variable spending amounts, like food.

Without a budget, “finding” several hundred extra dollars every month would have been an overwhelming task. However, already having a solid budget in place made this task manageable, and I daresay easy.  We’re now working with a temporary modified budget, that we can easily modify again when our financial situation improves once more.

Dealing with financial curveballs and unexpected life changes doesn’t have to be as awful as we’ve always been led to believe. Todd and I are definite proof of that. So if you needed one more reason to come up with a solid, realistic budget for your household finances, this would be it.  We’re very quickly learning that feeling in control of your finances, even if they kind of suck at the moment, is a very good feeling indeed.

Until next time,

~Kelly

 

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