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.”
- 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!