I see the value in a budget in the same way as I see the value in the weather forecast. They are a useful guide, but sometimes when sun is predicted, it pours down with rain. But sometimes you should willingly throw your budget in the bin and spend!
I have mentioned here in the past that I don’t really use budgets except for grocery shopping where I put £150 per month in the jar and attempt to use that and no more. It works well at keeping overeating at bay, over spending on food down and most importantly, drastically cuts down on food waste!
But sometimes, you need to make it rain!
So here are the 3 times I think you should throw the budget in the bin for that month and overspend!
1- Bulk UP
Any item that is reduced by 20% or more, that wont perish and that you use regularly BUY IT IN BULK. For example, my Supermarket one or two times a year has Extra Virgin olive oil half price. In an average month we would easily use a 1 liter bottle. So you should be buying at least 6 months worth at this point if you can store it. If you carry out this method correctly you may never pay full price for many items again. Common items to look out for are; Oil, Tinned goods, Cleaning products, toiletries, and alcohol.
2 – Once in a lifetime experience
Life often throws an opportunity to you out of the blue and sometimes you just have to go with it, for example;
“Hey, I just got a spare ticket to your favorite bank for TONIGHT! I asked you first, want to come?”
We cant take the piss when it comes to experiences and we cant live them all. But, every once in a while life gives you an opportunity. Life is about enjoyment and if a budget is sitting in the decision seat, sometimes in life you need to know when to overrule it! Use good judgement, and if you are doing this every month, then you are really taking the piss and need to reevaluate you decisions, but a few times a year is, at least in my view. Acceptable. Enjoy!
3 – Bringing extra happiness to you and others
Don’t let your budgets make any decision that your heart should be making. We are here because we want to improve our lives by earning freedom from a life trapped in the same job, getting out of debt and devaluing material goods. We are perusing a life of more purpose which will allow us to follow our passions. But at the route of all of this is happiness.
So before you turn down visiting your retaliates, attending your friends party or buying a gift for someone who you care deeply about try see what your heart is telling you and not what you budget might dictates.
Some things in life are more important than hitting your budget each month and try to remember that. If you are out to improve your savings rate dramatically and turn your life around for the better that is excellent, but give yourself a break sometimes. If it makes financial sense in the long term such as in point 1 or if it improves your life experiences and your happiness then give yourself a break every now and then, as happiness after-all, is our ultimate goal here. These are just some of the areas in my life that I would willingly break my budget for without regret, I am sure you might have some others that I missed off, if so let me know in the comments.