It’s Time to Lighten Up

16 Jul

Toward the end of last year, I had this whole idea that I needed to make a budget because we didn’t really keep track of where our money was going. We had always saved money but I didn’t actually know how much we were spending on random things here or there. This resulted in the creation of a budget that could be flexible here or there. We have been pretty good at sticking to the budget with the occasional exception here or there.

I became focused. The goal? Purchase a home. We need to put down twenty percent. We have had the twenty percent for months. But I hadn’t been able to let go. Keep saving, I thought. So we have been saving. And saving. All of my paychecks go directly into the savings account, untouched. I kept telling myself I would start an IRA only to find myself putting it off so I could get to the next big number in my savings account.

But what have we been doing?

Basically, nothing.

I realized I started to detest spending money, even on things we needed or that we would enjoy. We needed a new couch for quite some time but I was very reluctant to actually purchase one. I didn’t want to use the state pass I purchased in order to visit the parks because I didn’t want to spend the money on gas to get there. Essentially, we would put off having fun or doing something that might be fun for us because I didn’t want to spend the money.

I decided that I need to stop being so tightfisted because it was having an impact on my life. I don’t really spend much on activities—so why can’t I let go once in awhile? What’s the point in having a little extra money in the bank if I’m a lot less happy for it. We aren’t anywhere near struggling financially so why am I keeping myself from taking a day trip to the lake? It seems so ridiculous.

I think every once in awhile you need to take a step back and reevaluate your goals in life. Once your needs have been covered, it’s time to establish your wants. What do you want?

I want to enjoy my time doing things with the people I love.

And that is what I plan to do this day forward.

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5 Responses to “It’s Time to Lighten Up”

  1. nicoleandmaggie July 16, 2012 at 3:17 pm #

    Sounds like a good plan. 🙂 Our post today is on how nice it is (to be able) to throw money at problems.

  2. TacklingOurDebt (@TacklingOurDebt) July 17, 2012 at 5:50 pm #

    20% is a very nice downpayment. If you save more you can set that aside for any expenses you may have after you move in, because you will have more expenses 🙂

    • the thrifty spendthrift July 19, 2012 at 11:16 am #

      We don’t even plan on using all our savings for the d/p. So hopefully I’ll be left with a lot of savings. 🙂

  3. mycanuckbuck July 18, 2012 at 1:15 am #

    Good plan. It’s so hard to find that in between – you want to be careful about what you spend, but not make yourself miserable. The goal is to spend it wisely on things that matter to you – and it sounds like that’s exactly what you’re hoping to do!

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