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3 Ways To Stick To Your Budget With Kids


I always find it difficult to stick to my budgets, especially with a baby in the house, until I realized the budget should revolve around me and my needs and not the other way around. It is easier to stick to your budget if you make it work for you, instead you just working for your budget. Yes even with unplanned, baby loving impulse buys in the mix :-)

1. Don’t ditch your happiness moments

If you make sure that you have budgeted all the costs for your living and paying off any debt, then you can look at how much you can put into your savings. But always make sure that you have spending money to create happiness moments for yourself. You can use the 50/20/30 rule for this. This rule basically states that 50% of your income (after taxes) should go to your fixed expenses, 20% should go towards your financial goals a.k.a emergency funds, savings (include your savings for kids in this pocket :-)), investments and more. Then we get to the 30%. The best part of the 50/20/30 rule. This 30% you can use however you please because you have already put your money towards your fixed expenses and your financial goals. That means that from this 30% you can reserve a part for spontaneous baby buys.

Do not feel guilty about your 30% Happiness pocket.

I for instance love a nice Latte Macchiato at this special coffee place every Monday before my week starts and every Friday to celebrate my last workday of the week. For me this is sort of a ritual and I don't want to feel guilty spending money on this. And so I do spend this money from my 30% happiness pocket. By the way emergency blowout clothes, diaper and wipes do not go from this budget. Keep budgeting them in your fixed costs (the 50% pocket), do this because you need to keep an eye on how much you are spending on these things. And DO NOT feel guilty. We all need something to re-energize. We work hard, we deserve it, whether it is a coffee, a manicure, a great new book or a Pilates class. Do not let your guilt hold you back on spending money on yourself. 

2. Look at your bigger payments, not your pennies

Yes you could very well save a lot by not getting your happiness coffee, but you could save a whole lot more by researching cheaper monthly bills, by changing providers or looking at different interest rates for your mortgage. And GET OUT OF DEBT! Otherwise you are just throwing money in a black hole. The little things make little difference, the big things, make a big difference. It completely depends on where you stand and what you view to be important. A great way to see in which financial areas you are good and where you need improvement is by calculating your Net Worth. Read more about your Net Worth here.

 Also read: Achieve Your Financial Goals in 7 Steps, The 50/20/30 Rule All Successful People Know About and 4 New Ways To Start Budgeting.

3. Create a budget for your clothes

By setting up a budget for your clothes you will be more aware of what you spend and the reason why you spend that money. There is a big difference in buying something because you are bored or buying something because you feel it can add something to your life, a great statement piece that is easily combined with almost everything in your closet. (And kiddie proof). Also consider the environment and think if you really need all your clothes brand new, or if you can make your contribution by swapping clothes with friends, or looking at some vintage and second-hand clothing online or IRL. The same goes for the clothes of your kids. 
Where do you find the money for clothe sin your budget? If you follow the 50/20/30 rule, you can budget these under the 30% that you can spend on anything. You really don't need new clothes every month, but if it's something that makes you happy, go for it. Just make sure as always to only put your money towards your own happiness. Or if we reverse that; Do not steal from your own happiness on a wimp.


So The Goal Is...

So the goal is to have your budget work for you and not the other way around. Are you looking for more inspiration on budgeting and finance then make sure to also read: Are you in your 30's? The 4 Financial Questions You Should Know The Answer To7 Key Financial Strategies  I Wish I  Knew In My 20’s and 5 Ways of Financially Putting Yourself First.

How do you feel about your budget? Tell us in the comments.

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