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Over Controlling Budget

 


Certainly! Over-controlling budgeting, or micromanagement of finances, can be counterproductive in the long run, but there are situations or periods when someone might want to have a tighter grip on their finances. Here are some ideas and considerations about over-controlling budgeting:

1. Detailed Categories: Keep it simple! A general idea is ok, avoid over stressing with perfection or over detail categories.

2. Daily Tracking: I am all for tracking your expenses daily, however you can chose a day of the week to do so, and one day of the month to match with your bank statements (don’t worry you have a year to dispute a transaction, it’s not life or death situation) 

3. Cash Envelope System: If you have no control when using debit card or uses credit card often, this idea could be best for you, but it’s not for everyone (like for me, I love me some cash but this system is not for me)

4. Zero-Based Budgeting: This is my favorite and I have used it ALWAYS! Every penny has a name to use, weather savings, invest or expense, it has a name, except the ones found on the street they go straight to the piggy bank not to my budget plan 

5. Frequent Reviews: Once again, the point is to avoid over controlling, trust and believe it’s taking care for, once a month, or biweekly you are fine! Stop the perfectionism! It will bring more stress and anxiety around your money 

6. Limit Discretionary Spending: if you find yourself in a position where your liabilities have been increasing, or you have a major purchase (home, car, dream vacation) definitely use this tool, it requires discipline but it’s soooo much worth it!

7. Automate Savings: Set automatic transfers to savings or investment accounts, some banks offer round ups, if you purchase something for $4.75 the bank will take .25 cents from your checking account and put it on your savings account, these add ups are golden!

8. Find your best budgeting tool: Some people think I use spreadsheets, and I do for reference and esthetic purpose, but not to over control, just to have an idea how my budget looks like per pay period, and then I print it out and I track on paper (I’m old school) check out my budget journal with expenses tracker, subscriptions tracker, debt snowball, and savings challenge from my website Mindful Tasks Academy

9. Avoid Impulse Purchases: Make it a rule to wait 24 to 48 hours before making any unplanned purchases. Always listen to your intuition, and ask yourself “is this item in alignment with my higher purpose in life? What value could I get in return?” Sometimes you will find your intuition saying “go ahead you deserve it and you are taken care of” even if you don’t understand it, TRUST IT!

10. Limit Credit Card Usage: Unless you are making a big purchase that you get cash rewards or mileage in return and you have the cash in hand (just as reference you can have the same amount sitting in a savings or investments that grows for you) to pay it off in the next billing cycle. If not, avoid it at all costs! 

11. Educate Yourself: Regularly read books, articles, or attend workshops on budgeting and personal finance to continuously refine your approach.

12. Seek Feedback: Talk to trusted friends or family about your budget. They might offer insights or catch something you missed. If you have no trust to your family or friends, go ahead and hire a Financial Coach, or join a budget class (I will soon bring this)

While these ideas can be effective, it's important to remember that being too strict with budgeting can lead to burnout or resentment towards the process. It’s key to find a balance that allows you to meet your financial goals while still enjoying life. I always will suggest to have faith! Check out my podcast and YouTube channel coming soon for more insights. 

Much love BumbleVee
And Remember: Its a VeVe Thing You Wouldn't Understand


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