Sometimes an opportunity arises that can derail you from your budget plans. Here is Lexi DeRock’s story of how she fell off the budget wagon, and why it ended up being a very good thing.
Hey Folks! So I want to talk about falling off the proverbial wagon of budgeting, getting back up, dusting yourself off and getting right back on that wagon and not letting a slip up get the better of you.
We all know how hard it can be to stick to a budget especially when you have unexpected expenses crop up, but that is why it’s so important to stay on top of things and get some money into an emergency fund.
Despite our best efforts sometimes we accidentally overspend on things we shouldn’t, like a night out with friends costing more than anticipated or deciding to have a coffee while out walking the dog, even though we know that’s not really in the budget. Other times the expenses really are unavoidable like a late night trip to the emergency vet when Satchmo decides to eat a large bag of nuts (Tip of the day Dog + Nuts = bad news bears!).
Our latest stumble falls somewhere in between conscience overspending and unavoidable surprise but we’re not letting it derail us!
Recently my hubby and I made the decision to move from Melbourne to Geelong and overall it’s been a great choice! It’s closer to my husband’s family, minutes from the ocean, and the rent and cost of living is cheaper than Melbourne (remember my post about cutting down on living expenses!).
The unexpected bit came in finding a fantastic little house with a shop front attached which would allow us to be in a great part of town and fulfil the dream of having my very own vintage shop and retro beauty parlour while working from home! We just found it a lot more quickly than expected and didn’t have the time to budget as much for moving as we had hoped, but our lease was up and when opportunity knocks you just gotta answer the door!
In a whirlwind of packing and planning we did our best to keep moving expenses low, enlisting friends and family to help with the move so that we could rent a truck for just one day to cut down on gas and truck rental.
Being overly ambitious and wanting to get the shop up and running, I gave myself 2 weeks to remodel and managed to make the deadline with the help of fantastic friends and family. Unfortunately the shop needed new flooring, paint,furniture, and little unexpected things like extra drill bits, hooks,wall plugs, etc and things added up quickly. Our perhaps naïve budget of $1000 ended up going over by about $700 which was stressful.
However the big picture is looking good. Without a commute for me we’re already saving on transport costs and my being home more means getting to cook and shop well and send the hubby with leftovers which is stretching our food budget further. A minor financial setback has been well worth it in allowing us to spend more time together and with family and getting us closer to our future financial goals and desired lifestyle.
Having an extra $1000 in our emergency fund, which is our goal, would have made things a lot easier. However, after two months of running my brand new shop, Yankee Sweetheart, it has recouped its investment and is now turning the profit needed to allow us to live how we want and for me to do what I love. To us, that’s priceless.
For more about Yankee Sweetheart and to book an appointment, please visit my website!
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