Have you looked in the mirror lately?
You’re thinking, “What does my bathroom mirror have to do with budgeting?” Looking at our money habits is a little like looking in the mirror. When we look at our spending, saving, and giving habits, we can see ourselves a bit more clearly.
We asked Karisa to take a look at her money mirror, and here’s what she said:
“Eww, it’s gross looking at my Spending by Envelope report! When I do it for the whole year and it tells me how much I spent for all of last year, it’s just kind of shocking! It’s like, ‘Whoa, I spent that much money!’ I spent a lot of money on clothing, and that’s kind of controllable. Thinking about how many clothes I have in my closet, I know I don’t need to buy more. I have enough — more than enough. So this is one area where I could significantly cut back if I really want to get serious about paying off my debt this year.”
Okay, now your turn! Look in your money mirror. Don’t worry if you see something gross. You gotta see it first before you can deal with it!
- Take a look at your Spending by Envelope report. (That’s your mirror.)
- What did you notice about your money habits? Do you see anything that’s surprising about your spending, saving, or giving?
- Stop there! There will be plenty of time to change things later. Right now, we’re just taking a peek and assessing the situation.
Tell us what you saw. Comment below!
See the entire Budget with a Why series to create a budget that works! Or, navigate below to check out other steps in the process.
Step 1: Look in the Mirror
Step 2: Reflect
Step 3: Meet Your Money Map
Step 4: Plan Your Route
Step 5: Start Your Journey