I am absolutely with you... great post as the concepts you are talking about are the same ones I always remind my female finance community on. It all starts with the basics! 🙂
I read in consumer research that our budgets tend to be overly optimistic at the beginning. The paper went on to say it's fine. Budgeting can turn into a habit over a few months, at which point you'll be able to fine-tune your spending plan. The bottom line is that even if your spending overshoots, committing to budgeting will still have a positive effect on both, short- and long-term spending.
Really fantastic post Ben, I always encourage people to create an annual calendar to identify infrequent expenses that pop up. Track out when everyone's birthdays are, holidays where you may be hosting or spending more, when you pet's annual vet visit is, when you have additional car maintenance, or tire changes, when annual subscriptions come out. These things should not be a surprise, but they can totally derail a budget if they aren't planned for.
I am absolutely with you... great post as the concepts you are talking about are the same ones I always remind my female finance community on. It all starts with the basics! 🙂
I read in consumer research that our budgets tend to be overly optimistic at the beginning. The paper went on to say it's fine. Budgeting can turn into a habit over a few months, at which point you'll be able to fine-tune your spending plan. The bottom line is that even if your spending overshoots, committing to budgeting will still have a positive effect on both, short- and long-term spending.
Would love to read that report, if you have a link. It makes sense.
Here: https://academic.oup.com/jcr/article-abstract/49/5/697/6603733?redirectedFrom=fulltext&login=true
Thanks!
Really fantastic post Ben, I always encourage people to create an annual calendar to identify infrequent expenses that pop up. Track out when everyone's birthdays are, holidays where you may be hosting or spending more, when you pet's annual vet visit is, when you have additional car maintenance, or tire changes, when annual subscriptions come out. These things should not be a surprise, but they can totally derail a budget if they aren't planned for.