What We’ve Learned From 75+ Real People Budgets – EP 310

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Hearing people’s stories about their finances can elicit various reactions. One may think it’s unrealistic or unattainable, but hearing their stories can give us the perspective that improvements and success do not happen overnight. If you have been with us for a while now, you know that we love hearing your stories of frugality, budgeting, paying off debt, and just your financial stories! In this special episode with Allison, we talk about everything we have learned from all walks of life and their budgets. 

We can choose what we are allowing to inform us and the meaning we are attaching to it.

Sponsors:

  • Easy peasy, lemon squeezy. That’s right, pithy rhymes have quite the budget these days. Does something feel tough, overwhelming, impossible, insurmountable, or un-accomplishable? Well, forget that! Do the things that are easy! Go squeeze yourself a lemon and say “Hey, I’m good at that.” And if you want to feel good at other things, maybe even things that USED to feel difficult, like managing your own money you should buy yourself a copy of Allison’s book “Money Made Easy” because we love the easy stuff. Especially when it used to be hard stuff, and now it’s easy peasy lemon squeezy!

How To Stick To A Budget

We may find ourselves slipping up in handling our budget. This article by Inspired Budget teaches us how to be mindful of those discretionary and impulsive spending. 

What Jen + Jill have to say:

Discretionary spending tends to be impulsive or based on our emotions, so making our goals visible can help us think through before we make our purchase–this is just one of the many things Allison has learned from other people’s budgeting which even reached more than 75 budget stories. Creating and checking your calendar or list before making a budget is a great way not to forget payment due dates and make us budget wisely. You don’t have to do it alone! You can do this with your partner, friend, family, or house plant! 

Stay out of the places that provide upfront temptations to spend more than you should. Allison suggests ordering online and committing to grocery shopping once a week. Jill recommends keeping a pulse on your overall finances. Also, Jill thinks tracking your spending every day can be helpful for a specific time or certain personalities, hence, assessing which works for you based on your personality and circumstances. 

Why You Need to Stop Comparing Your Finances to Other People’s

 Erin Gobler writes why we should stop comparing and improving our financial perspective. 

What Jen + Jill have to say:

One of the pitfalls of knowing the realities of other people’s budgets is the comparison trap. Jill reminds you that everyone’s money is different, and how we approach ours could also be different. We’re only seeing the best of the best–it is only the picture budget of that person’s life. It is not their physical, emotional, mental, and relations life. It is only a fraction of their life. The comparison might even push you to impulsively spend and slow your progress. Someone’s priorities now might not even be your priority.

Social media gives us so much access to other people’s lives that it highlights what we don’t have. You can reduce your time on social media and practice gratitude even for the smallest things. Allison used to have a lot of anger towards money, but this mindset has only set her back from her goals. Instead of negatively approaching money, create a better attitude towards it. Acknowledge the mistakes you have made in the past, and allow it to see yourself in a positive perspective. Reflect on your goals, values, and priorities to build a healthier relationship with yourself and your finances.

How do you reduce instances of comparing your financial situation to others?

Allison reminds herself that she only sees a partial picture of someone’s life. She understands that finances are not just about money but also about choices and family.

Similarly, Jill reminds herself of her progress in the last five years and that it’s okay to be where she is now–she’s proud of this progress. 

Bill of The Week

Thank you Elizabeth from Nashville for sharing your bill about a statement from your mortgage lender who informed you have excess in your escrow and a reduced mortgage payment!

Thanks so Much for Listening!

Thanks so much for listening! Many of you know we have a private community where we do monthly money challenges and offer accountability groups. We want to congratulate one of our members for a big win:

Weekly goals…a bit late!

I’ve been working to save some money so that I can buy the 5 lb bags of coffee at my local shop and save about $3/bag! And not run out so fast!! ☕️☕️☕️☕️☕️ DH gave me a gift card for the shop, so I’m going to be able to buy my two bags today. (I drink 1/2 caff so I get a bag of regular and a bag of decaf!).

Small differences make bigger long term wins! 💪🏼

Congrats! Thanks for listening and if you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.

Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉

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