Budgeting & Psychology
Hello everyone, I’m curious how do you budget and allow yourself to spend some and be happy?
I have a monthly budget that I write down and check off when bills are paid etc. I have a breakdown of spending money and money for savings. I have my $1K emergency fund and a bit in my checking roughly $3k in working on having $3K at all times in there. It’s an amount I feel safe with.
I plan on opening a HYSA and starting small with contributions then increasing them. I’ll be redoing my budget when my pay rise kicks in later this month to see where I’m at then. The only debt I have is $7k on my car which I’m paying off aggressively and early. I do realize I’m a bit too focused on lowering that amount. But I have trouble spending money on myself. Be it new clothes, a game or hobby etc. I’ve cut back on going out as I was doing that a bit too much.
I think I’ve been living in a scarcity mindset for so long I have a hard time with investing in myself. Has anyone else had this problem? If so how did you overcome it?
Edit the debt is what I owe on my car. I have no CC debt