Welcome to another update of my financial journey. I started back in February when I got the idea to document my small goals of saving money. I don’t write the exact details like the amounts I have or spent. What I do is share what I could have done and the changes I can make for the next month.

I can’t say enough of how fast the year is going for us but too slow for our financial needs. September has been a big set back that even my daughter has felt the affects of it. This time my goal is to teach my daughter to be in the same page with what budgeting is about so she doesn’t feel like she won’t have money for food.

Like many other parents, I decided to stay home to home school my daughter. School started out fine with little to no hiccups but at the end of the day. How will we get through this week? What can I do to save money?

Honestly, my husband makes just enough for our bills and food but for luxury things we would have to wait it out. I don’t think that idea is so bad because I can wait for the item to go on sale. It means the item wasn’t something I needed in my life because we have enough when it comes to clothes and food. I also know that we won’t go traveling anywhere for the rest of the year so that helps a lot with those little worries.

I believe that our worries got to our daughter because we would talk about it in front of her. For example, we talked about this new show focused on celebrities that talked about the stresses or stressors in their lives. After I finished explaining the story my daughter said she had stress too and it was about us not having money. I don’t know how other people would judge this situation but in my head I felt so sad that I had put that burden on her. She thought that we didn’t have money for anything especially for food.

What I did to teach my daughter about budgeting was, I wrote out all our bills and expenses for the month. Then on a separate page from my planner I wrote how much we have, how much we get, how each expense is paid, how much we can use for luxury items and how much we should be saving.

I didn’t want to overwhelm my daughter with the idea that we can’t ever enjoy what we make or that we can’t ever do what we want. I want her know that the more we spend the less we have and the longer it takes us to realize that we will never be happy. The most surprising part about her understanding finances is that when she knows she has to spend her own money she would rather not. I told her that it is the same feeling we feel when we have to use our own allowance to spend because we want it or if we need it.

It’s not your salary that makes you rich, it’s your spending habits.

Charles A. Jaffe

Let’s start this new month with a new goal no matter if we achieve it or not. Goals are set as a guide, to motivate and to push ourselves not to put ourselves down.

See you in the next month.

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