When You Know It’s Going To Be A Bad Month
I’ve got that sinking feeling.
This month I will be over budget. After four consecutive months of good behavior, May is going to kick my behind.
It all comes down to choices, and this month, I made several decisions to prioritize entertainment and eating out at restaurants higher than others. Here is a quick rundown.
I had an old college friend over for a full weekend. While we made a point to eat in where possible, we just could not resist the quick and easy option of a restaurant. So we went out twice, once for dinner and once for breakfast for which we paid for.
And then there were the purchases. The whole reason for my friend coming over was to revive an old hobby. An expensive old hobby. I managed to almost double my entertainment budget alone on one trip to the store with him. It seems easier to spend money when you have a friend around who wants the same as you.
This month will be the first of this year to be over budget and I accept it. I’m not going to go back and try to expand the original budget numbers. I am going to bite the bullet and let the chips fall.
That in and of itself is another conscious decision. It is better to admit to yourself your shortcomings rather than be surprised when the truth comes out. In personal finance, that means being accountable for all of the line items in your budget.
I look at the numbers constantly and know where I stand at any given time during the month. For all of the prior months of this year, I knew they would be close, but I knew I had otherwise behaved and thus had a good shot at coming in under budget, which I did. Today, I know that I’ll be over. There is no doubt in my mind.
What I am not doing is sticking my head in the sand. That sort of behavior is true financial suicide. I have seen that sort of attitude ruin a few folks I know including close and not so close family. Knowing and accepting the truth about your money is very important. I believe that way of thinking will allow me to make amends later on this year.
That said, there are few options at this point to get me through to the end of the month without too much more financial heartburn. It basically comes down to watching my spending and not allowing myself to write off the month as a loss and rack up a bigger shortfall than I would otherwise of had.
Whatever shred of discipline I have left will have to work harder this month.