Spending money with a frugal mind

 Spending money with a frugal mind

I hate spending money. When I think about going to do an activity, my mind goes to spending the least amount of money possible. I try to avoid breaking the bank. I have started to ask myself why I do this?

Frugality has been programmed in me. I have a hard time going outside of my means. But what I have realized is that it is important to spend money and just enjoy yourself sometimes. Today I want to talk about how I go about spending money on special occasions as a frugal person.

First off, I create a budget on how much money I want to allocate for specific activities each month. I start off with the things I need each month then move down to what I want. I think about what is most important to me and work down from there. Basically when I have ranked needs and wants based on their importance, I establish a monetary value for each one. I take a percentage of what I make each month and put that toward each category. My budget for activities often fluctuates throughout the season but by creating a budget I am able to create a goal and stick to it.

Obviously at times I go over budget. Rather than stressing out, I have created an overflow fund for each activity. There are many months where I have budgeted more than I use for activities. This money gets carried over to the next month to cover times where I go long. At times, I don’t have much overflow, so what do I do? I have set goals for how much I’d like to save each month. I have automatic deposits come out with the exact amounts I need to reach my goals, but I also put money in savings other than the money I have come out in direct deposit. This money is just excess money that is unbudgeted or has been earned with more sales. This is a flexible part of the budget that can either be added to savings, or used to fund activities. 

Next, when deciding what activities I want to spend money on and which ones I don’t, I take into account the alignment with that activity and my goals. If I have a goal to lose weight and cut down on alcohol, an activity that includes going on a pub crawl may not make it into my budget each month. I am not saying that this is something that I will never do, but it is not a priority. Saying no is a lot easier when you have already established which kind of activities land where on the list of importance.

Personally, I enjoy looking at long term importance with each activity too. If the activity has potential to be something I will remember forever, I am more likely to take part. It is very difficult to determine this but at times it can be done. You have to look at how the activity differs from things you do on a regular basis. Engaging in typical weekend activities with the same people lowers the possibility that they will be memorable. Sure, maybe I miss a basic weekend with my close friends and it could be the best weekend ever, but my gut tells me it usually isn't.

I look for activities with potential to be meaningful and unforgettable moments in my life. If it has little importance, I keep my goals in mind. We have all experienced the fear of missing out and it is hard to tell yourself that you aren’t missing out. But what if what you are really missing out on is developing yourself? What if by staying home you are able to learn something that brings a new light into your life.

The unknown and the “what-ifs” are the scariest things we face. Uncertainty comes through everyday but it is important to make logical decisions, and make them efficiently before they waste precious moments of your life. 

Choose to do activities that inspire or help you to achieve your goals. Make logical decisions on what is worth what. The biggest key: never regret a decision you made. Make the decision and live with the consequences. Enjoy spending your money on things that make you happy.

~Thank you for reading. My goal is to help teach others ways to better themselves while doing the same for myself. This is The Exploration.~