For this month’s credit card bill it is going to be a lot more expensive than usual due to the last minute trip I took. Financially I did plan it out with a strict budget in mind so that I didn’t overspend. After looking at my finances, I was pretty much in line with my budget which means everything is still under control as usual. However, to me it felt like it wasn’t good enough.
Whenever I give myself a budget I always like to challenge myself to see just how much more I can save to have more money at the end of the day. In many ways, I consider it as like a financial exercise to make yourself better at managing money. I also find that this way you avoid the mentality of just because you set aside a budget for a specific item doesn’t mean you should necessarily just spend it all. I often find that people waste a lot of money this way.
As an example, you put aside a budget of $500 to buy a TV. Therefore, regardless if one store is selling it cheaper you go out and pay $500 for the TV at a particular store simply because that is what you budgeted for it. Aiming to do better can only help in the long run I feel and it will make you more in-tune with your habits and the financial options out there.