There Are Two Types Of People

When it comes to money there are two types of people:

the saver & the spender. Savers view money as a scarcity & in turn feel more comfortable with a larger emergency fund. This is not a bad thing by any means but they may need a little nudge to help them enjoy their earnings more.

My husband is a saver. He will save up for those bigger purchases and even the small ones too. I’m thankful he is a saver because I am the complete opposite. He has taught me so much and our opposite views of money has helped us both grow to be better off financially.

I have always been and always will be a spender. I enjoy shopping for others and giving gifts so spending money comes naturally to me. Almost too naturally.

Being a spender isn’t necessarily a bad thing. You just have to make sure you are spending less than you make so you can obtain a positive net worth. If you find yourself in credit card debt, like most of America...like I used to be, then you will most definitely find yourself in an unfortunate spot.

I found out a few times the hard way that I can easily wonder into debt... wondering out? Not a chance! I worked my butt off 3 times since graduating college to literally dig myself out of debt... starting back at zero sucks! It’s like I took a match to all of my hard work.

Each time I told myself I wouldn’t go back into debt but all those airline miles and points gave me a reason to keep swiping. In turn, I wracked up the debt again & again. It was a viscous and wicked cycle & if you have any credit card debt whatsoever I recommend ditching the cards completely.

What changed?

Well, have you heard of Dave Ramsey?

I had my ”never again” moment!

I have since cut up my credit cards & we stick to a cash budget now.

I have to say it’s been an amazing experience! My husband & I now tell our money where to go instead of wondering where it went. One of the most valuable tools we’ve used is the Everydollar app.

Each month we create our budget & designate every dollar to a specific category.

categories include (but are not limited to):

• Giving/charity

• Saving (sinking funds,retirement)

• Mortgage

• Electricity

• Cable

• Trash

• Internet

• Groceries

• Pet care

• Medical

• Clothing

• Fun money

Throughout the month, as we make transactions, we track them in the app so that we know what we are spending and how much we have left in the budget.

The hardest part?

Resisting to overspend in one category and take from another!

It has seriously been a game changer & we love working on our budget each month, together. It’s challenging and makes us accountable.

It took us about three months to work out the kinks, but we did it! We are on a roll!

If you don’t currently budget and are looking for a way to drastically improve your finances I recommend this adjustment.

If you want to read more about budgeting or finances let me know by subscribing to my blog and following me on Instagram @Always_willow.

Always,

Erikka