Bye Bye Budget

 

Without getting into it, I’ll just say this year hasn’t gone to plan. Life has a way of throwing curveballs and outright hits to the head, leaving you confused and reeling at times. That’s where I’ve been.

So what does this have to do with budgeting? A few things.

Prior to life going sideways, I was already considering giving up tracking expenses because it was becoming tedious and frankly wasn’t hugely beneficial at this point in my life. For many years I’ve consistently kept my spending well under my income, so I know I can trust myself to spend responsibly. Now that my life has dramatically and somewhat unexpectedly changed, I don’t have the bandwidth nor interest to deal with tracking every penny.

Do I believe tracking your spending is still worthwhile? Yes, especially if you’re new to budgeting, have a tendency to overspend, or are working on a serious savings goal. Right now, tracking my spending is just adding unnecessary stress and one more “to do” on my ever-growing list.

Tracking spending is only part of my budget. The budget itself - how much I plan to spend per category over the course of the year - that I set up for 2023 needs to be majorly overhauled. I’ll be making a temporary move until I find a permanent home, and that was not something I anticipated at the start of the year. Each time I move I will need to redo the budget, since it’s difficult to know what housing and associated expenses will be until you find a place.

Needless to say, my 2023 budget is blown to bits due to circumstances beyond my control, and I’m going to need to be flexible going forward. I am so thankful for my financial security, as it’s going to make the transition that much easier.

Although I’m still a minimalist, I have more stuff than I did when I moved to NY in 2018. I’ve been living in a house rather than renting a room, and I now have a cat - both things that require a certain amount of physical possessions to maintain. Although there are some things I won’t need during my temporary move, I will need and want them for when I do find a permanent place to live.

After this experience, I realize just how important my need for security is. Nothing in life is guaranteed or full-proof secure, but there are things I can do for myself to make life easier and less at the whims of others. I never imagined I would want to own property again, but at this point in my life, considering my needs and wants versus apartment rental prices, buying seems to be the best fit for me. No decisions have been made yet, so we’ll see what the future brings.

I am very fortunate to have temporary housing available while I look for a more permanent home. That certainly relieves a lot of pressure and anxiety. And I have the most fabulous network of family and friends supporting me through this time - thank you, hugs, and love! You know who you are :)

Perhaps sharing this experience will inspire others to become financially secure, as you never know what life may throw your way. Having money isn’t the ultimate security, but it sure makes life easier and provides you with more options when needed.

Update: I wrote the above post a few weeks ago but am just getting around to posting it. Since then I’ve moved into my temporary housing and am preparing to close on a new home sometime next week. It is beyond amazing that I was able to quickly find a home that I believe I will love and enjoy for many years. Although none of this was on my radar for 2023, I’m determined to make the best out of this situation for me and my cat Bella.