The summer sun has drained my brain. Buying gifts for weddings and birthdays, frolicking on the weekends and hanging with friends has taken precedent over budgeting.
Well, my budget consisted of paying for necessities (household bills + debt repayment + insurance) then not caring about how I spent the rest. The only problem with that is that I spent money on clothes and whatnot before realizing an oil change was due, my friend’s wedding was quickly approaching and so on.
In the past month or so, I’ve done everything I know NOT to do:
- Started using a credit card again and didn’t immediately pay back all that I took off the card.
- Bought a ton of wants—like a Groupon that I can’t even use because it’s for the store in another city an hour away. I failed to notice the location.
- Dipped into what was supposed to be my emergency savings. (It’s set up at a different bank than where I house my checking account, but that didn’t seem to matter.)
- Stopped tracking my expenses and going over my monthly figures (for two months now).
Whew! It feels good to actually let it out.
What doesn’t feel good is the fact that I know I could have done better. I could have stopped digging a deeper hole for myself. Also, the “extra” money I’ll be getting from freelance gigs will go straight into cutting that credit card balance and re-filling my emergency savings. All that work for nothing! When I learn to simple spend less than I earn?
I need to regain my discipline. Although, I will vacation with family this weekend, I plan to make August a regrouping month. Perhaps, another fast is in order. I’ve quickly gone downhill.
In the meantime, I’ll read these articles and start to recalibrate the system.
- Don’t Panic! Recovering from Financial Mistakes and Setbacks
- Topics We’re Talking About: Overcoming Financial “Oops”
- How To Recover From a Blown Budget