We decided to ask Veronica for an interview after she had been using our budget template for awhile, which you can get for free by subscribing to our blog. In this interview, you will see how procrastinating can cost you money when you don’t start doing a budget sooner rather than later.
Tell us a little bit about yourself.
My name is Veronica. I am 60-years-old. I have been married for 39 years. We have 3 boys; well now they’re men. And 3 wonderful daughter-in-laws.
What do you do for a living?
I’m a Client Account Manager for a vision company. I’m looking at retiring after working with my company for 29 years.
What made you decide to start doing a budget?
I have always had the desire to have some kind of structure to my spending but could never get it together. When I was introduced to the budget and decided to give it a try I knew it was exactly what I needed. After the first month, I could not believe how much money we were able to save.
Now that you’re budgeting, do you feel like you make more money than you thought you made?
Most definitely! Knowing how every penny is spent gives us a better understanding of how to manage it. For example, when we go to our favorite store (Home Depot) we would usually pick up little things that we feel we could use instead of just what we really need. Budgeting helps to keep us focused.
Do you feel more restricted by the budget or do you feel more free?
Absolutely very free. It relieves the stress of the unknown. Yes, things can happen that might not be in the budget, but having something set aside for a “rainy day” helps in those times. And with the budget, you are able to save more aggressively for those “rainy days”.
Now that you’re budgeting, do you feel like you and your spouse are better at communicating with regards to finances?
Great question. Normally we would just go about doing our own thing and spending money without any sense of direction. But now we talk about it and we are both conscious of how we spend. Just yesterday, I took my car in for an oil change and was told that the brake pads are wearing and will need changing soon. My hubby without hesitation told them we will take care of it on the next service since it was not in this month’s budget…….Yeah!! He is getting converted. Hahaha!
What advice would you give to someone who isn’t doing a budget, but is thinking about it?
Don’t procrastinate. Get into doing a budget. It is freeing and you are in control of your money. You feel like you have money (not just a feeling for me, but that’s the best I can explain it). I can’t understand but I have more money now that I’m doing a budget although I’m making the same amount of money.
Our Thoughts: Veronica and her husband are a good example of although they started doing a budget later in life, it’s still beneficial. However, procrastinating with doing a budget can and will cost you money. Take their advice…