2 thoughts on “Whose Wind Is It Anyway?

  1. Sometimes it is so easy to want to keep up with the Jones’. One of the problems I have with my plan is that I will budget toward certain things such as personal care $150/month but then I don’t buy or spend money in that area I woul normally then spend twice as much in the next month. The challenge is if I do not spend the money I start reasoning to myself ‘since I didn’t spend the money saved last month I can use that money toward somethng else and then when its all over I’ve over spent.

    Any suggeions??

    Monique

    1. Monique, You are not the only one who faces this problem with planning and not using the funds for what it was planned for, then because of poor planning you still believe the funds were not used for what you planned it for so its available to spend forgetting that you spend it for something else already.
      This is why I recommend to the people I do Financial Planning with to have a savings account for each of those special things we plan for like, Vacation, Christmas, Spa and Beauty. We are fortunate in Canada that most banks do not charge you for having more that one savings account and you are allowed one or two withdrawals per month per account free of charge. So if you have your Spa account and you did not use the money this month that money is separate from your other money and is sitting in your Spa account so when you use it next month you will have double the money to use, but if that money is in a chequing account it will disapear like a feather in the wind, because of poor planning you will believe the funds are still available. My advise to you is open your Spa and Beauty account and name it as such so that you will always be aware of what is available to use. At first it might be a bit strange but once you get the hang of it you will love it. Let me know how it is working for you.

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