4 Telltale Signs That Your Old Budget Needs A Makeover
Remember that time a couple years ago you sat down and worked out a keen budget for you and your family? That worked out pretty well for a while, right?
Sadly, it might not be working anymore. Money situations change, both for better and for worse. You probably have different bills, different income, perhaps even a different family size, and what you had mapped out back in the day won't fly anymore, regardless of how financially meticulous you were once upon a time.
Here are a few signs to watch out for. If these happen to you, it's probably time to re-budget your life.
Mint can help you rewrite that budget and get your financial life back on track. Click here to learn more and get started!
Your Card is Declined for a Cup of Coffee
Every little expense can add up, obviously, but if you can't buy a $1 cup of joe because you don't have enough money in your account, then something is dreadfully wrong. Most likely, you've been spending too much money in the wrong places.
So you should definitely sit down, log onto Mint's personal budget creator, and see exactly what has changed since you last budgeted.
If your utilities have gone up since then, and you never thought to set the money aside to cover them, then there you go. Those extra hundred bucks a month could be the difference between keeping the lights on, saving, and keeping yourself properly caffeinated, or just barely keeping the lights on.
Your Grocery Bill Blindsides You with its Size
The one thing many a consumer forgets about when budgeting is the grocery bill. It's always bigger than you imagine, and your budget needs to reflect that, or else you'll collapse under its weight.
This is especially true if your family has increased in size (or your waistline has). Most likely, your past budget did not account for that, which is probably the main reason why going to the market is oftentimes such an unpredictable and chaotic experience.
Find your recent grocery receipts, overestimate a bit, and base your new budget off of those figures. That way, grocery shopping can become be pleasant and joyful once again (or at least as pleasant and joyful as grocery shopping can ever be.)
You Haven't Bought New Clothing in Months
Shopping for clothes is one of the more necessary facets of life, if only because old clothing doesn't last forever and our Draconian laws still insists we cover up in public. Until the Naked Revolution begins, you should always have room in your budget for clothing.
So if you've found yourself unable to do so because you need the money for other things, that's a problem, and likely the problem is with your budget.
We're not saying go out and spend hundreds of dollars every month on the swankiest new duds. We're saying that you should at least have $50 set aside each month for good, reliable shirts, pants, and socks, not to mention a new pair of shoes every now and again. If you can't do that, then your budget needs to be retooled and updated until you do.
You Start Paying Your Credit Card Bills with Another Credit Card
This here might well be financial rock bottom. Using one credit card to pay off another card is like chasing alcohol down with more alcohol, only less effective. If your financial situation is so bad that you can't even pay the minimum on your credit card with actual money, something is definitely awry.
Sit down with Mint's budget system and crunch the numbers until you find out what you are underestimating or neglecting that is causing you to spiral into such a monetary black hole.
Once you do so, and completely update your budget to fit today's needs, rather than yesterday's, you'll be sure to come out happier, healthier, wealthier, and wiser. With brand new socks to boot.
Let Mint help you redo your old budget and turn it into something relevant for today. Click here to get your financial world back in order!