I changed my budgeting strategy and I feel happier. I stopped overspending on things which I did not need and I am working on my money-related beliefs. So what did I change and became much happier, feeling I have things under control?
My previous budgeting patterns were used for years. Pay all my bills, pay outstanding amount on my credit card (I used my credit card to protect some payments but tried to pay it off each month to avoid paying
interests), put something on savings, keep the remaining amount on my account and pay for necessities or stuff I wanted. Although I told myself how much I am going to spend that month for my little pleasures every month (of course I believed that I should be rewarded for my hard work in previous month!), I never really followed that during the month. As my money for necessities and my pleasures were mixed together, I was losing a track how much I spent for each category. Obviously, the surprise came at the end of the month. Sometime my credit card helped our or I borrowed from savings. And I never was motivated to break my behaviour patterns. Until one day when I decided I want to improve my budgeting and approach to money.
Once I decided to change my money mindset, I came across the Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth book. And I loved the advice there and followed it immediately:
Tip #1 - Create a Joy Bank Account
Yes, you see it right! Create a joy bank account! :)
When I mentioned it to my friends, they kept asking: 'What is a joy bank account?'
My answer was: 'It is an account where I keep money I can spend freely for my joy and pleasures.' Usually their response was that they never heard about such a thing. And then I smiled :)
I suddenly felt more abundant and used that card for clothes shopping and eating out. I spent only what I wanted that month. I was more conscious about my purchases. The Monzo app even showed me statistics how much I spent for Shopping and Eating Out. Amazing! I felt HAPPIER! I improved my finances and my mindset!
Did I inspire you?
So just two things if you want to improve budgeting and be happier:
Read the Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth book.
Create a joy bank account, for example at Monzo but it can be anywhere else.
Be happier and smarter with money (if you are struggling as I did).
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