Monday Money Minute: Budget Creep

Budget creep creeps into this Monday Money Minute

It’s a sneaky little bitch. It’s intrusive and precarious. It’s budget creep and this is what you need to know to kill it dead before it creeps into your life.

Budget creep

Budget creep, not to be confused with the type of creep TLC or Radiohead sang about, is that increase in spending beyond your budget that happens so slowly you don’t even notice it. It’s the answer to that “Where the fuck did my money go?” question. It’s detrimental to your budget and goals and it causes even the most responsible among us to blow our wad

This is what we have to say about sneaky little budget buster.

To know it is to avoid it

You’ve created a budget. You’re excited and ready to make that change that MJ sang about to get on track with your money. But, how can you avoid that creep in your budget like that ex who won’t go away?

As you watched, budget creep is often caused by triggers that permit us to either unconsciously or consciously disregard our budget or make exceptions here and there, like your one last hook up with your ex.

Know your triggers.

In many cases, we can see patterns in what causes us to mismanage our budget. Examples include being stressed, feeling sad or depressed, losing someone or something or even celebrating someone or something. Common symptoms of budget creep include avoiding looking at your budget or available cash balance. Often the voice inside your head will say something like, “you deserve it” or “this’ll be the last time.”

David shares our advice on how to avoid a creeping budget when we expect or feel a trigger or when we notice the symptoms of budget creep.

P.S. Please disregard John’s shirt. It’s been trashed like that ex to whom we keep referring.

Tips to avoid budget creep:

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Comment List

  • Amy 29 / 06 / 2015 Reply

    “Locked and loaded!”

    Budget creep. It totally happens to all of us.

    My budget creep has been grocery shopping: I’m learning that, “If it’s not on the list- it doesn’t go in the cart!” That’s been helping me a lot!

    Thanks fellas!

    • John Schneider 01 / 07 / 2015 Reply

      Totally Amy. We have done that a million times. Head to the store to get 1 or 2 things and walk out having spent $35-50. That really throws the budget out of wack.

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