Ballin’ on a Budget: August 2018

It’s been one month (approximately) since I started my Ballin’ on a Budget series and I wanted to share my very first update about my progress. If you remember back in July in my first Ballin’ on a Budget post, I discussed some of my thoughts about budgeting and the effects it can have on your life. I also mentioned a few savings and spending goals I wanted to reach. I gave myself until September 30, 2018 so I still have one month left to get where I want to be.

So far, I am not anywhere near where I wanted to be (yikes!) and that is because I went on vacation in August to Miami, FL. If any of you have ever been to Miami, you’ll know that it is not cheap to stay there for a week. I knew this trip was coming up, but I didn’t plan very well for it. This is not necessarily a good reason or excuse for deterring reaching my goals, but that is exactly what happened. Needless to say, this trip set me back quite a bit.

So now, to readjust my goals for the coming month, I know how to be a little bit more realistic about it. I know when I’m traveling next month, special occasions that are coming up, and I have an idea of all the other crazy things that might come up in between. I tend to be impulsive about my spending so I never REALLY know what’s going to come up, but I do know things that I was thinking of purchasing that might turn into impulse buys. What I need to really adjust for this coming month is my self-control, but I also understand that it takes time to change bad habits and I should be patient with myself. So here are my adjusted/realistic goals to reach for September 30, 2018:

  1. Pay off entire August credit card bill in full before due date.
  2. Keep credit card balance under 15% of my credit maximum as of September 30, 2018.
  3. Add $300 to my savings and emergency funds.
  4. Put an extra $10 weekly into my retirement fund.

These goals are much more attainable for me and I believe that I’ll be able to reach them. I think goal setting is always important for the future, but what’s more important is making sure to adjust and reset when you need to. If you aren’t reaching your goals, it’s easy to be frustrated. If you take the time to evaluate why you didn’t reach your goals and adjust your plan to fix that, then you have a much better chance of actually reaching them later on.

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