Living Comfortably On a Budget

family Budget

Many Americans have found themselves struggling to make ends meet each month. Even those previously considered “well off” find themselves looking for ways to trim expenses. By taking the time to set up a budget you can avoid ongoing financial struggles and worries that may plague you.

Having a budget means looking at your spending in a way to avoid excessive debt and setting realistic goals for spending and saving. With a workable budget, you can avoid the ongoing stress that comes with debt and actually enjoy your life. A workable, comfortable budget is something that may vary between individuals, so it’s important that each person determine what “comfortable” means to them going into the budgeting process.

Set Goals and Have a Plan

For some, having enough money for a weekend getaway a few times a year maybe a goal. For others, just being able to eat out once a week or enjoying a little non-essential shopping once a month maybe a treat. Understanding how to get the most from your money without worrying about important bills is a key to being happy living within a set budget.

No matter where you live, the culture that surrounds you affects the way you think about money. It is that culture that helps dictate what you consider to be comfortable living. If everyone you know is driving around in a new $70,000 Tesla while you’re still commuting in your 9-year-old Honda Civic, you’ll notice the disparity. But does that disparity matter to you? Maybe you prefer a good book to a $80 movie for 2 after popcorn and soda or a backyard BBQ to dinner at a 4-star restaurant. Where your priorities lie is a big determining factor in setting your expenses.

60-Day Challenge.

Track every dollar you spend over the next 60 days. Log every coffee at Starbucks, phone app subscription, meal, and candy bar that you buy. After 60 days go through each item and ask yourself if that was the best use for that money. You may be very surprised by the results.

Look at your bills/expenses over the past month and note areas where you could save. Do you need a $4 coffee each day from the corner barista or can you make it at home yourself (saving roughly $20 a week)? Can you save more by packing a lunch, taking public transportation, or buying in bulk? Look around and you’ll be surprised what you can save each month.

Be Satisfied not Sacrificed

Finally, be aware of what many experts call “frugal fatigue”. Being hyper-conscious of your spending can become a problem in itself if it leads to the other extreme…..a sudden, unnecessary splurge. It’s important to recognize financial fatigue if it begins to affect you. If you’re tired of analyzing every dollar you spend, before you wreck your budget efforts, take a moment to consider the satisfaction and stability you’ll feel knowing you have some money set aside for an emergency or planned expense.

Hold to that budget! If you’re still feeling like you need to “spend”, stop in for a $4 cup of coffee just once a week and make do with that extravagance for now.

Share This Page

Bond & Botes Law Offices

At Bond & Botes, we now offer full service bankruptcy consultation and filing over the phone or by video from the comfort and safety of your home or office. Please call 1-877-581-3396 or click here to setup your free phone or video consultation.

The lawyers at the Bond & Botes affiliated offices serve clients at offices in Anniston, Birmingham, Mobile, Montgomery, Opelika, Decatur, Huntsville, Florence, Haleyville and Gadsden, Alabama; Vicksburg, Hattiesburg and Jackson, Mississippi. Read our disclaimer here. You can view our Privacy Policy here.

Alabama Offices

Birmingham

2107 5th Avenue North
Age-Herald Building
Birmingham, Alabama 35203
Phone: (205) 802-2200


Shelby County Location
15 Southlake Lane, Ste 140
Birmingham, AL 35244
Phone: (205) 802-2200


Florence Location
121 S. Court Street
Florence, AL 35630
Phone: (256) 760-1010


Huntsville Location
225 Pratt Avenue NE
Huntsville, AL 35801
Phone: (256) 539-9899


Montgomery Location
311 Catoma Street
Montgomery, AL 36104
Phone: (334) 264-3363


Decatur Location
605 Bank Street
Decatur, AL 35601
Phone: (256) 355-2447


Haleyville Location
914 19th St.
Haleyville, AL 35565
Phone: (205) 486-3580


Gadsden Location
430-B Chestnut Street
Gadsden, AL 35901
Phone: (256) 485-0195


Opelika Location
216 South 8th Street
Opelika 36801
Phone: (334) 887-7666


Anniston Location
1302 Noble St #2C
Anniston, AL 36201
Phone: (256) 344-3559


Cullman Location
200 Second Avenue SW
Cullman, AL 35055
Phone: (256) 739-9866


Mississippi Offices

Jackson Location
120 Southpointe Dr., A
Byram, MS 39272
Phone: (601) 353-5000


Hattiesburg Location
607 Corinne St, Ste B8
Hattiesburg, MS 39401
Phone: (601) 353-5000


Vicksburg Location
1212 Farmer Street
Vicksburg, MS 39180
Phone: (601) 353-5000

© 2024 by Bond & Botes Law Offices. All rights reserved. Disclaimer | Privacy Policy