I can’t decide if I’m mad or glad about not spending any money for tax free weekend? I was really tempted to get a jump on fall shopping but I resisted, y’all. I didn’t have anything specific that I just absolutely wanted or needed so it just felt like too much of an impulse push. I decided I’d rather just wait and pay the tax later on things I actually want versus buying random things to save a little.
I also decided now is the perfect time for a little money reset. I’ve been very lax with my spending over the last few months and with fall and the holidays approaching, I’m trying to get it together. I’ve never been an extreme budgeter but having a money plan + knowing where it goes is always helps me feel more organized and in control. I also keep being constantly reminded of the rising costs of inflation on everything nowadays, THANK YOU TIKTOK. We’ve all seen it first hand but the constant reminders just seem to make it feel even worse! I will be fine and then after a video or two, I find myself slipping down the doom and gloom spiral which is not a good place, ya'll.
Ultimately I know that doesn’t get me anywhere except anxious, stressed and feeling out of control. Because I can’t change what’s happening in the world, I'm choosing to focus on the positive things I do have and on making changes in place I can control. Here are some of the things I'm choosing to do + some goals I have to get reorganized and back on track.
MONEY RESET + GOALS
+TRACK SPENDING - Whenever I feel disorganized with money, it's usually because I'm just spending blindly. I'm just swiping my card without keeping track of where my money is going or how much is going out. I have a pretty good idea of what is "okay" for me spend without getting too out of control (lol), but I'm definitely a lot less disciplined and intentional. I think it's been over a year since I've actually tracked what I've spent monthly so that's my first order of business. It'll be nice to assess any areas I should cut back on (always food, lol) and maybe where I can spend more.
+BE MORE MINDFUL - Alongside of that is just being more mindful of my spending. I don't plan on being too restrictive, just more thoughtful with my purchases. It's easy to impulse buy at times, however I ultimately feel more excited by spending on things I love + really want. I also love the fall time + holiday seasons so I would rather put my money towards that.
+CLEAR OUT & SELL OLD ITEMS - Decluttering is always a good idea, especially if you can earn a little bit of your money back! I'm not the best at doing this so I'm adding it as one of my goals. Maybe I should find something to save up for that I could use as motivation? I like the idea of selling X amount of items or making a certain dollar amount that I could then use towards something new.
+OPEN MONEY MARKET ACCOUNT - I'm a big fan of having a high-yield savings account, especially right now. Most are paying 4-5% interest right now which makes them a great way to earn money on any savings you might have. I use Ally and recently noticed their money market accounts are earning even more than the HYSA rate right now. Because they don't charge any fees or minimums, I think I'm going to add a MMA to my account to earn that little bit of extra $$$.
+ACTIVELY INVEST - For the past several years, I've always said that I wanted to boost my investments outside of my retirement account. I have dabbled a little bit here and there, however I've never been that disciplined with doing so. Retirement is staying as my top priority, however I want to get better about trying to invest more if I have any extra $$$ to allocate.
+ABUNDANCE MINDSET - Back to the "doom and gloom" conversation, I want to keep myself in a positive, abundant mindset. This one can be really hard if you're struggling financially or just feel stuck in life. I totally get it- the world we live in now just feels hard sometimes and most of us can probably agree that we thought we'd be at a different place in life right now. I know I have and if you aren't careful, you can stay discouraged and stuck on the negative. I do believe you get what you give and that being positive and having an abundant mindset (both with money and life in general) is super important. This is also another reason why I try not to be *too* strict with budgeting. It's important to be smart and a good steward with your money, however in my experience being too restrictive or uptight can lead to a scarcity mindset. I also think even if times are tough, you're more likely to make a positive change with an abundant mindset than with one of scarcity or lack.
Starting with those! Do you have any money goals right now?
