Budget priorities

Disclaimer: Today’s post is quite confrontational for me as it touches on things I haven’t resolved yet. But here it goes!!!
I’m going to state something bold here, so you have been warned. Unless you have looked your child in the eye – or yourself in the mirror for that matter – and had to tell him/her that you might not have enough for the food they need, then please consider yourself blessed.

Now no need start sending me coupons! This has occurred in the past and I am eternally grateful to those who stood by and helped us out in our hour of need. This spurns on another post about your inner circle or your community. Who are your friends and how can you contribute to their well being? The name says enough: it’s a circle so whatever you send out comes back ten-, thousand-, kazillion fold!

I digress, was talking about budget priorities. As some of you know, I don’t work for a boss (so I don’t have a regular job) since January 2016. The decision to take the leap was the best decision I have ever made: there is definitely no price for freedom. Up till Q3 of 2018 I was doing okay, but due to some health issues in 2019, it became a challenging financial year. Because of this, all resources dried up and by the end of the year it was quite a struggle. The lines between want and need then become blurry because even the basic needs are not being met.

So how do you overcome such a period? Because, what I’ve read online at that time, it seemed like everyone has stashes or piles of money stored away for a month or two survival until you get back on your feet. I couldn’t really find an answer on how to get through, if even that basic amount that you need to survive is not in your bank account. And that’s where the magic word (budget) entered the equation.

For a few years now (since 2016 to be exact) I have been collecting data. What am I spending money on? What is the company spending money on? ALL expenses have been recorded (you guessed it, in Excel :D) and now I have a view on exactly where the money goes. And because I had all this data, I was able to sit down with a budgeting person who then helped me see what I needed to make (my break even point) as a company, in order for me as a person to be alright as well.

Did that mean that I had money when my kids needed food? Nope! I survived that period purely by the Grace of God. He pulled us through without a doubt. What it did teach me is that budgeting is also part of the need, not of the want. If you don’t analyze your spending habits (data analysis baby!), it will be a tad more difficult to get to the next level.

And who doesn’t want to go to the next level? So are you ready? Set? Go set your budget priorities!