So, there’s this person, Mykail James, out in D.C., calling herself a “recovering overspender.” And I mean, who hasn’t been there, right? Anyway, she dubs herself the “boujie budgeter” online (side note: I love that name). Back in the day, she was all about dropping cash on concerts and clothes like it was nothing. But now? She’s got this spending thing on lock, thanks to some nifty rules she made up.
One of her rules is, like, super specific. She puts a cap on how much she’ll spend in different areas. So, she’ll snag a concert ticket, okay, but it better not be over $45. It’s like having a safety net for your bank account. And, oh yeah, she keeps her fun money far away from her bill money. Once the fun money is gone, that’s it. Game over, no more spending.
It’s kind of brilliant because it means she can still enjoy herself without freaking out over bills later. Limits but with room to breathe — that’s how the experts say we should handle this overspending thing.
Right, okay, so James says to check out where your money’s disappearing each month. Have you ever noticed that the food or subscriptions cost more than you thought? Apparently, figuring that out helps decide where to save some bucks. She says to think about if your spending matches how you want to live. Maybe it does, maybe it doesn’t. Up to you, really.
Then there’s this dude, John Jones, a financial planner, who dives into this needs versus wants debate. I personally always mix those up. Needs are like your groceries and rent, but wants? Those are the fun restaurant dinners and movie nights. You get me, right? He suggests cutting back on the “wants” to save a bit. Like, maybe you “need” a vacay, but opt for a cheaper place. Or that fancy dress? Wait for the sale — more discount, less guilt.
Saving before spending is another piece of the puzzle. As soon as cash hits the bank, save some of it. Like for retirement or emergencies or whatever goals you’re dreaming of. Separating money makes sure you don’t blow it all mindlessly.
Ah, then there’s planning for those bigger splurges. Jones loves guitars — who doesn’t, honestly? — but he won’t buy one until he’s saved up. It’s a pay-before-playing strategy. Makes sense, right? Same goes for his honeymoons and trips. Speaking of, Trae over in New York, she walks away from things she wants to buy. If she still wants it after a few days, then maybe she’ll buy it. That’s some patient impulse control there.
Lastly, Molly Ward, another financial whiz, suggests turning saving into a game. Compete with friends about who saves more. Share tips, make it fun. Turns out, not spending doesn’t have to be all doom and gloom. Anyways, that’s how Mykail’s rolling with her budget journey. Friends who cheer you on, I guess they are the real MVPs here.
