Tag Archives: living on a budget

My Life on a Budget: A Year in Review

 

Year in Review Sam EditionJust a little over a year ago Brittany and I decided to start Fun on a Budget Blog to document the outcome of 20-somethings trying to live well on a budget. We wanted to share our financial battles and triumphs as we fought the good fight against our debts and gave our best effort to keep living lives that kept us happy and excited to get out of bed each morning.  We had a few different purposes in starting Fun on a Budget:

First, we wanted to support other people that were in the same situation as us. Debt is one of those topics that most people are ashamed to talk about, so we knew that there were probably many silent sufferers out there that could use some help.

Second, we wanted to learn more about how to be better with money…and we have learned A LOT!! A huge amount of research and many conversations happen each time we prepare for a post, and from those actions new knowledge is gained.

Finally, Fun on a Budget Blog was a way to stay motivated to keep our focus and momentum strong because after all, paying off debt can be a long term and difficult goal to achieve. Fun on a Budget Blog has 100% fulfilled its role in being a tremendous motivator for staying focused on our end game of getting debt paid off as quickly as possible. Every month we sit down and write up an entire report about how much debt we’ve ditched or how much money we saved, and this gives us the opportunity to reflect on what we are doing well and what we need to start doing a little bit better. Don’t get me wrong, I do hope that people like our budget blog, and I hope that if some Googler stumbles upon it (probably on the 5th page of search term results, haha), that it will help him in some way—but at the end of the day, if I it’s just me, Brittany, and our moms reading the darn thing, we are okay with that. We’re okay with it because we truly enjoy not just living on a budget, but writing about it.

So, here we are one year later, and it just wouldn’t be right not to reflect on how being on a budget has impacted our lives, right? I must say that I originally assumed I would post about how my budget has impacted my debt only, but once I started taking a deeper look at all that has happened (or not happened) and changed over this past year, I realized that the debt numbers are only half of it!

Debt by Numbers: How Being on a Budget for a Year has Impacted my Debt

Year in Review Total Debts
In just one year I have cut the number of total debts I owe by 75%, went from having paid off one debt to having three fully paid loans under my belt, decreased nearly all of my debts to less than the original amount I was loaned (interest is the WORST), reduced my minimum monthly payments by $228.34 , and decreased my overall debt by over $18,000.

Income Distribution

From August 2013 to August 2014, my income was delegated into four different categories: debt payments, living expenses, flights (home and for trips) and savings. 42% of my income went towards my debt snowball, 43% was used for living expenses like rent and food, 7.5% went toward flights to visit family and friends, and the final 7.5% went into my savings account–which was primarily used for moving across the country.

Current Debt Comparatives YIR

The chart above gives a more detailed look of how being on a budget can have a significant and positive impact on getting rid of your debt.

 Yeah, Yeah, Yeah…So you paid off a lot of debt, but what else have you done??

Well, you might be surprised

One of the most rude frequently heard comments that comes out of someone’s mouth when he/she learns I believe in sticking to a budget is “Oh, I couldn’t put myself on a budget because I still want to do things.”  Give me a break…I was on a budget from August 2013 – August 2014, and I did A LOT of “things”.

During my first year on a budget I…

Fun Pics

And I did a little traveling too..

Travel Pics

The good, the bad, and the really really good

I would be lying if I ended this post with my fabulous traveling pictures and told everyone that being on a budget is all rainbows and ice cream cones all the time. It’s not. You aren’t idiots, and you already knew that.  I whined like a child when I had to miss friend’s weddings, wear running shoes that have holes in them, go hungry during happy hour, and had to start drinking water at the bar after I ran out of money (but felt pretty happy the next morning hangover free).

When you are on a budget you cannot do 100% of the things you want to do, buy 100% of the things you want to buy, or travel to 100% of the places you want to travel. You must pick and choose, but whenever I feel down about being on a budget, I remind myself that one of the most important and impacting choices I made in this past year was to LIVE on a BUDGET. Because that choice brings good things to me now—like paying off debt quickly and never bouncing checks—and will bring really-really good things to me in the not-so-far-future—like being able to save for retirement and use money to travel and celebrate in the present —the blips of “bad” that I’m experiencing just don’t seem so bad.

Brittany lived on a budget the past year too! Check out how she fared by clicking the link: Brittany’s Life on a Budget: A Year in Review

For more information about transitioning to life on a budget click on our“Getting Started” link in the menu bar at the top of the page, and get your free printable budget by visiting our “Materials” page.  We have a couple of options for you there.

But enough about me…I want to hear about your experiences on a budget–what works and doesn’t work? What are the best and worst parts of holding yourself accountable with money? Follow the “Reply” link at the top of this post to share your thoughts with Brittany and I!!

Follow us on FacebookPinterest, and Twitter!

Follow on Bloglovin

Sam

My Life on a Budget: A Year in Review

title pic

Just a little over a year ago Sam and I decided to start Fun on a Budget Blog to document the outcome of 20-somethings trying to live well on a budget. We wanted to share our financial battles and triumphs as we fought the good fight against our debts and gave our best effort to keep living lives that kept us happy and excited to get out of bed each morning.  We had a few different purposes in starting the Fun on a Budget:

First, we wanted to support other people that were in the same situation as us. Debt is one of those topics that most people are ashamed to talk about, so we knew that there were probably many silent sufferers out there that could use some help.

Second, we wanted to learn more about how to be better with money…and we have learned A LOT!! A huge amount of research and many conversations happen each time we prepare for a post, and from those actions new knowledge is gained.

Finally, Fun on a Budget Blog was a way to stay motivated to keep our focus and momentum strong because after all, paying off debt can be a long term and difficult goal to achieve. Fun on a Budget Blog has 100% fulfilled its role in being a tremendous motivator for staying focused on our end game of getting debt paid off as quickly as possible. Every month we sit down and write up an entire report about how much debt we’ve ditched or how much money we saved, and this gives us the opportunity to reflect on what we are doing well and what we need to start doing a little bit better. Don’t get me wrong, I do hope that people like our budget blog, and I hope that if some Googler stumbles upon it (probably on the 5th page of search term results, haha), that it will help him in some way—but at the end of the day, if I it’s just me, Sam, and our moms reading the darn thing, we are okay with that. We’re okay with it because we truly enjoy not just living on a budget, but writing about it.

So, here we are one year later, and it just wouldn’t be right not to reflect on how being on a budget has impacted our lives, right? I must say that I originally assumed I would post about how my budget has impacted my debt only, but once I started taking a deeper look at all that has happened (or not happened) and changed over this past year, I realized that the debt numbers are only half of it :)

Debt by Numbers: How Being on a Budget for a Year has Impacted my Debt

Debt by the Numbers-Comparison

In just one year I have cut the number of total debts I owe in half, went from having paid off zero debts to having three fully paid loans under my belt, decreased nearly all of my debts to less than the original amount I was loaned (interest is the WORST), reduced my minimum monthly payments by over $200.00, and decreased my overall debt by nearly $25,000.

Income distribution

From August 2013 to August 2014, my income was delegated into three different categories: debt payments, living expenses, and savings. Just over half of my income went towards my debt snowball, 37% was used for living expenses like rent and food, and the final 11% went into my savings account–which was primarily used for Christmas shopping and wedding savings.

Ind. loan progress

The chart above gives a more detailed look of how being on a budget can have a significant and positive impact on getting rid of your debt.

 Yeah, Yeah, Yeah…So you paid off a lot of debt, but what else have you done??

Well, you might be surprised :)

One of the most rude frequently heard comments that comes out of someone’s mouth when he/she learns I believe in sticking to a budget is “Oh, I couldn’t put myself on a budget because I still want to do things.”  Give me a break…I was on a budget from August 2013 – August 2014, and I did A LOT of “things”.

During my first year on a budget I…

what i did 2

what i did list

And I did a little traveling too…

travel2

travel list

The good, the bad, and the really really good

I would be a big, fat, dirty liar if I ended this post with my fabulous traveling pictures and told everyone that being on a budget is all rainbows and ice cream cones all the time. It’s not. You aren’t idiots, and you already knew that.  I hopped on the waaambulance a handful of times during my first year on a budget, for a variety of different reasons—missing the bridal shower and bachelorette of a bestie, missing the wedding of another, keeping my own wedding small, and no longer being Anthropologie’s #1 customer—are a few that really got under my skin and left me flustered for days.

When you are on a budget you cannot do 100% of the things you want to do, buy 100% of the things you want to buy, or travel to 100% of the places you want to travel. You must pick and choose, but whenever I feel down about being on a budget, I remind myself that one of the most important and impacting choices I made in this past year was to LIVE on a BUDGET. Because that choice brings good things to me now—like paying off debt quickly and never bouncing checks—and will bring really-really good things to me in the not-so-far-future—like being able to save for retirement and use money to travel and celebrate in the present —the blips of “bad” that I’m experiencing just don’t seem so bad. :)

Sam lived on a budget this past year too! See how she fared by clicking the link: Sam’s life on a Budget: A Year in Review

For more information about transitioning to life on a budget click on our “Getting Started” link in the menu bar at the top of the page, and get your free printable budget by visiting our “Materials” page.  We have a couple of options for you there.

But enough about me…I want to hear about your experiences on a budget–what works and doesn’t work? What are the best and worst parts of holding yourself accountable with money? Follow the “Reply” link at the top of this post to share your thoughts with me and Sam!!

Follow us on FacebookPinterest, and Twitter!

Follow on Bloglovin

 Brittany

How to Stay Sane and Maintain Friendships while Living on a Budget

Sometimes when you are fighting tooth and nail to get out of debt or save a large amount of money for a future expense, such as a down payment on a house or college tuition, your intensity takes you across a fine line, and your healthy determination becomes an unhealthy obsession. If—okay, okay, WHEN—this happens you have to take a step back and remove your blinders because money is just money, and being a miser not worth losing out on relationships and monumental occasions with your friends and family.

We all know that being financially fit is an important part of survival in today’s world, but there are other parts of life that are just simply MORE important. When you feel yourself over-stressing about monetary situations that are minor blips on the radar of life, fearing that your friends have forgotten you exist due to your new hobby of hermit-ing (pretty sure that’s a word I just made up), or shaming yourself for the lack of love you’ve been sharing with others, it’s useful to have strategies to get yourself back on track to living a life you love—and keeping your relationships with your peeps alive and well.

Just because you are “on a budget” does not mean you are destined to eat Ramen alone every night. There are some ways that you can make sure you keep a level head about money matters, maintain positive relationships with your friends and family, and continue to share love with your peeps no matter what kind of budget you are following.

word art

1. Brainstorm a list of your current life priorities, and put them in order. When you see that money isn’t at the top of the list, you can motivate yourself to quit acting like it is.

priority

Money can buy you things, but consciously examining your life priorities reminds you it’s not the only path to a full life. Don’t let yourself forget that!

2. After you master the art of saying “no” every once in awhile, make sure you balance that out by saying “yes” every once in awhile too. When you first start picking and choosing which activities or items to spend money on, it can be difficult to walk away without forking over dough. After a little time has passed and you begin to notice progress with your finances, it gets easier to say “no”, and you might find yourself having trouble saying “yes”. Make sure you stay involved in activities and relationships at the top of your priority list because these are the best parts of life.

photo credit: www.capescoaching.wordpress.com

photo credit: www.capescoaching.wordpress.com

3. Talk to people. The gift of gab…never. stops. giving.

talking on the phone

photo credit: www.elephantjournal.com

4. Share what you can. If your budget doesn’t allow you to dole out the big bucks to frequently treat your friends or family to the finer things in life, make a valiant effort to make the best of what you have and give what you can. Invite them over for home cooked dinner or lend them your favorite shade of nail polish. Stumble upon a buy-one-get-one-free coupon for an item you only need one of? Shop with your friend, and share the wealth. Get a promo code via email that you aren’t going to be able to use? Go ahead and forward that to a near and dear who will. When it comes to sharing, think outside of the box and give what you can. Others will appreciate it, and you will enjoy it.

cupcakes

If someone gives you half a dozen cupcakes, give four or five to your friends.

5. Plan activities that aren’t expensive. Who says your only social interactions have to revolve around buying food, drinks, or clothes? Nobody—that’s who! Take the reins, and set up wallet-friendly fun like brunch at your place, going for a walk or hike, cheering on your alma mater in a sporting event, or chatting while your dogs go wild at the dog park.

taking reins

Hiking the Bell Trail in Sedona, AZ was free and exhilarating.

6. Cut yourself a little slack. Whenever I feel like I’m not doing as well as I wish I was—with money, relationships, just being a good human in general—I remind myself that my (perceived) “failure” probably isn’t a very big deal in the whole scope of my life or anyone else’s for that matter. And please know that “I remind myself,” is actually code for, “usually after about five rounds of beating myself up over something insignificant..I remind myself”. Everyone is their own worst critic. If you feel like you messed up or aren’t meeting the standards you have set for yourself, you have to let it go and find a way to move forward. If you can’t do that, you just get stuck.

When you start to feel defeated about money or life, try to see yourself from your dog's point of view.

When you start to feel defeated about money or life, and all else fails–try to see yourself from your dog’s point of view.

 For more information about how to start making progress on getting out of debt or gaining control of your finances, check out our Getting Started tab at the top of our page.

Follow us on FacebookPinterest, and Twitter!

Follow on Bloglovin

 Brittany