Author: Duncan Elsey

Budgeting is Boring – Part 1        

Well, since we've moved to Salt Spring, budgeting has become a necessity. I'm now following a new direction with my business – and not taking on any new clients. Duncan is no longer working a 'normal' job as he is renovating the house.

What we have found from budgeting is that we spend less… No surprise there eh?

Well, actually I was surprised. Usually it doesn't make any difference…

But it's amazing once you sit down and come up with a REASONABLE budget – how the urge to spend naturally reduces.

Now I stress the word REASONABLE. Most people think of budgets as a CONSTRAINT – something that is 1) a hassle, 2) stops them having fun, 3) is boring and 4) takes too much time. (Sorry Mom! She's an accountant!)

Well, we now have a budget for alcohol, for weekends away and holidays, for personal expenditure (which we don't need to justify to each other), for entertainment (eg. dvds, eating out) and for 'treats' which might include a massage or occasional bottle of champagne.

Now some of you may be thinking "That's not a budget!". But I think that's why it works. Because it DOESN'T constrain us. We SPEND LESS, it's EASY and FEELS GREAT! Because it maintains our dream of living here on Salt Spring (for the budget to work – it helps if it's linked to a goal or dream).

I used to buy all sorts of little 'treats' while I was out – and they really added up. Of course I didn't NEED any of them. With a budget, I realise it's going to impact the budget we've set, so I resist the urge to buy – get home and feel great!

And we actually have massages now, we still eat out and have treats. But it's guilt free. And did I mention we SPEND LESS?