Let's talk budgets for a few minutes. I definitely think everyone should allow themselves a monthly budget for shopping and/or other things they enjoy, regardless of whether it's $10 or $1,000 (which would be seriously awesome but probably not realistic for most people). It's so important to be in tune with your financial situation and know your limits when it comes to spending.
I've discovered during the past few years that establishing a hard budget value (exactly x amount of dollars per month with no wiggle room) meant I was setting myself up for failure almost on a monthly basis. It was as if having such a strict limit immediately brought on this uncontrollable urge to spend more than what I've allowed for myself which can become a very dangerous pattern. My solution? Instead of allowing myself a particular dollar amount each month, I allowed myself to work within a budget range that is reasonable for my (and husband's) financial situation which, right now, happens to be $50-$75 per month. Each month I aim to stay as close to the low end of that range as possible but it still allows me to go a little over my preferred $50 budget (not including gift card purchases) without having to feel guilty or feel as if I've failed myself yet again. It may not be a method that works for everyone but it works for me.
Here's a recap of my July spending (all totals include tax):
- Ulta - $31.20 (not including a $50 gift card I got for my birthday, mentioned here)
- Macy's - $17.66 (not including the $18.48 I had left on a gift card from last fall, mentioned here)
- Ideeli - $6.37 (after a $25 birthday credit, mentioned here)
- Ann Taylor - $10.34 (the gorgeous sweater pictured below was marked down from $88 to $19.88 plus an additional 50% off the sale price..such a steal!)
TOTAL monthly spending - $65.57
I did use portions of a couple of other gift cards that I received for my birthday as well. Husband was kind enough to take me on a birthday shopping trip to the nearest outlet mall which is about an hour and a half away from where we live. I had high hopes at the beginning of the day but left with just this teal 'Jackie' cardigan from the J. Crew factory store which was marked down from $49.50 to $24.97 plus an additional 30% off the sale price. I paid $18.18 using my gift card.
I also made a quick trip to my local Old Navy where I bought a pair of 'Sweetheart' boot cut jeans (no photo but I think they are the 'Chesapeake' wash) marked down from $29.40 to $10.99 as well as these bright colored skinny belts marked down from $12.50 each to $7.49 each. For all 3 items, I paid a total of $27.20 using my gift card.
If it hadn't been for my birthday at the end of the month, I wouldn't have been able to shop nearly as much as I did. I still have a handful of gift cards to use which I'm hoping will carry me through the rest of the summer and into the fall season.
Do you use budgets? I'd love to hear what works well for other people so feel free to share by leaving a comment below!
Zoya 'Touch' Collection (left to right: Pandora, Shay, Minka) - $8 each
