How to budget your money in sobriety
Learning how to budget your money whether you are in sobriety or not in sobriety is key to living a full and productive life. Budgeting money can help you to plan for the future, keep your present day less stressful, and allows you to build off your past spending habits. There is never enough money it seems like when you are in sobriety but if you budget correctly you can have more than enough. This is one of the bonuses of not spending your money on drugs and alcohol any longer, you can now begin to save and plan your spending habits in ways that will help you in the long run.
Here are some ways on how to budget your money in sobriety.
First, in sobriety a budget is necessary. Having a budget is the only way to get a clear look at your spending and to find out if you’re spending your money the way you want to use it.
Creating a budget takes three simple steps:
- Identify how you are spending your money. This can include keeping receipts, using an online tool, or keeping a tab.
- Look at the ways you are currently spending your money and set goals that take into account your long term objectives for your money. For instance, set a goal to save up for a car in a year etc. Set a max amount of money you are allowed to spend on coffee, groceries, etc.
- Track your spending to make sure it stays within your guidelines you have set out.
- If you really want to budget your money in sobriety, a great way to save time and energy is to use a software tool. There are plenty of free websites and tools to help you budget your money now days. Use them to your advantage.
- Don’t drive yourself crazy with your budget either. A budget is meant to make your life easier not harder. Once you determine how much you can and cannot spend in different areas of your life concentrate on that and don’t worry about other aspects of your spending. This applies whether or not you are using a software tool.
- Keep an eye on the cash you spend. It is easy to look at our bank accounts and see what transactions have occurred due to our debit card. The bank statement tells you where and how much you spent but if you use cash there is no record. Keep a tab on what you buy with your cash so you don’t end up overspending using your paper money.
And a few extra tips for budgeting your money in sobriety that are key are things such as:
- Don’t spend more than you have
- Beware of luxuries that seem like necessities. If the amount you make doesn’t cover your costs then some of your spending is probably for luxury items, for instance energy drinks.
- Aim to spend no more than 90% of your income. This is how you can save 10% for your big-picture life goals.
- Don’t count on the money you are not absolutely sure you will get.
Budgeting your money may mean cutting out some of the niceties in your life but it will reduce stress and help you in the long run too. It can be hard to budget your money in sobriety especially in early sobriety but this is when it’s most important. Learn to budget your money as soon as possible and before you know it, at 5 years sober you will have more money than you could have pictured. It also feels really good to reach those financial goals!