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!
68 thoughts on “Look in the Mirror”
Too early to tell. Just starting this budgeting process
I’m about to turn a life-changing corner in how I spend and save money. So my last few weeks have been soaking up the last of the ‘summer wine’. Bring on the water and bread.
I spend compulsively everything I want and I don’t know how to stop it… Well when I run out of money I guess
Yah I’m a compulsive spender, I see it and want it, but can’t afford it but will buy it anyways, I get tired of being broke so maybe this will help me learn not to be so compulsive and want everything to keep me happy.
I see a person who saves his money and doesn’t shop to shop. But uses his food saver which is a vacuum sealer to help save his food and doesn’t have to shop for a while bc he uses his food saver to save the sales he gets while using the food saver….
But all of this is possible to save is bc my God gives me wisdom to save my money by recognizing what works and what doesn’t work….
I have a “I deserve this because I have never had much” attitude. Now I have stuff and no money. That has to stop because I am now retired and living on a fixed income.
Started GoodBudget early April. Then retired mid May. Amounts budgeted for in envelopes may have to change once I know what my monthly pensions will total. For now I’m spending 62% of my income on household (life insurance, utilities) and 38% on what I call “life” – gifts, fun, misc personal expenses. Wish my husband would track what he spends. Would give a complete picture of our entire monthly expenditures.
Too much money spent on fast food
I when I looked in the mirror I am glad I started to budget when I did. There are still areas in my spending I can reduce especially in grocery shopping