I read a comment from someone recently that they had calculated they’d spent $367 in 2017 just on buying soft drinks from their one company vending machine. It highlighted that a dollar or two a day really does add up over a year!
One of the really great things about the work we do at BudgetSimple is hearing about inspirational stories of how budgeting has changed someone’s life. Many times people have often just stumbled onto budgeting as a concept and after one or two missteps have really embraced the processes. I think we can agree that budgeting isn’t a lot of work, but it’s the persistence that counts and that will make real change in people’s lives. Here’s one that we saw recently…
Bill Gates is often quoted as saying Most people overestimate what they can do in one year and underestimate what they can do in ten years . This is true of the impact technology has in our lives. Think about it, what a difference 10 years has made to our financial lives!
The latest news and statistics on student debt is pretty grim, and whilst the US leads the way due to having the most expensive education fees, students around the world continue to graduate with both a degree and an increasing amount of debt. In the US alone the aggregate student loan balance is 170% higher now than it was just 10 years ago, an amazing $1.4USD trillion of debt, second only to mortgage debt. These enormous numbers are hard to fathom but here at Budget Simple we hear what they mean for everyday people.
There are lot of tips and tricks to tackling your personal finances, I thought I’d heard them all until I recently came across ‘Spending Fast’. Now I know what you’re thinking, that doesn’t make sense! Getting your finances in control is about spending less, right? Being smart with you money is about delayed gratification, it’s about saving now so you can spend later when you don’t have work or are retired. So how can spending fast help? Well its not that kind of ‘fast’…
It happens to the all of us. We go from month to month diligently planning our spending, category by category, tracking where the money goes, not over doing it, debt is being paid off, savings are on target and then… WHAM!! Out of left field we get hit by an expense that we never saw coming. If you’re not prepared it can set you back in you savings or worse it can drag you down into debt. Ouch! So what’s a conscientious budgeter to do?
Whilst catching up on my couch time recently, a documentary on NetFlix called Minimalism: A Documentary caught my eye. I started to watch and surprisingly I made it all the way to the end, which is pretty good for me. Its a thought provoking film that challenges some fundamental values in our very consumerist modern society.
I created BudgetSimple around a budgeting philosophy my wife and I had used in Excel. Something I’ve realized over the years is that there is basically no one right way to budget, so some people come to BudgetSimple confused about how it works or why it doesn’t work a way they are used to. Hopefully walking through how I use it will help you figure it out for your finances!
If there’s one thing I’ve noticed, it’s that people love to collect things. Books, stamps, Precious Moments, you name it, someone is out there collecting it. I’m no different, I used to be quite proud of my DVD collection. But as I boxed it all up to sell to a local Buy/Sell/Trade store, I realized, there must be over $1,000 of money spent on these items that are now almost completely worthless (I got $10 for about 20 of the DVDs, and the rest they didn’t want at all).
This will be my last post for BudgetSimple! It’s been a little over two years since I started sharing my budgeting and money-saving tips with you, and I’m incredibly grateful for the experience.