The “B” Word

How I Got Started with Budgeting

Through this business, I will cultivate true community. That means being unapologetically me so I can continue to attract you bad-asses who vibe with what lights me up. While my business is built on my passion for photography, I fully believe that over the years as I grow and change, my business will too. I am always going share what is relevant for me at the time or what is on my heart. So I’ll be sharing some things that may not have a lot to do with photography, but with my joy. I want to let you in on the bits and pieces of what make me, me. Here I go breaching yet another taboo topic, of course!

Budget, what’s that?

After graduating in 2013 with my degree in Psychology from the University of Minnesota (oof), I realized what I had thought of as Monopoly money that I had signed a bunch of papers for in college was actually real ass money I owed the government to the tune of about 70k. That was shocking for my 23-year-old self, to say the least. Our family did not talk a lot about money growing up, and I was reckless and irresponsible with it in college. Run out of beer? Need to pay rent? Want new shoes? I’d just use my “excess loan money” to buy whatever I “needed”. Yeahh, it wasn’t cute. 

Realizing Stuff: I Need a Budget

After paying minimums on my loans for a full year upon graduating, I realized my debt had actually increased…wtf?! When diving a bit deeper, I realized my minimum payment wasn’t even enough to cover my interest, let alone touch on my principle balance. I was livid and so defeated. After Ben died, life changed, and I realized I was not going back to get my Masters and would be paying back my student loans for the next hundred years, and I was feeling extremely suffocated. That started me on a journey to look for a way to get out from under my debt and get it in control. 

Above all, I realized I didn’t want to wait and hope for loan forgiveness, and that the only way I was going to get a hold on my money and out of debt was to budget. Ew, not ideal, right? Well, I did more research on different budgeting methods like the envelope method, 50/30/20 method, and zero sum method. I got really interested in budgeting and experimented with several different methods until I found what worked and is sustainable for me. 

Getting on Track with Budgeting

After getting a handle on my monthly budget, I started seeing exactly where my money was going each month and it was super empowering (and not as scary as I thought). Then, I was able to start directing money as aggressively as I could towards paying off my student loans; like, half my monthly income aggressive. I’ve been doing the EveryDollar Budget for over two years, through wedding planning and I even brought budgeting into my marriage (lucky Matt)! Our first big “purchase” as a married couple? Making a 15k payment towards our student loan debt within the first two months we were married (none of which was gifted for our wedding, we spent that on our honeymoon).

Finding My Budgeting Guru

I stumbled upon The Total Money Makeover while researching budgeting books at the library, and rented it. That was the real catalyst to start my budgeting journey. After reading the Total Money Makeover, I was into it and researched the author, Dave Ramsey. That led me to his podcast and using his EveryDollar method and app. If you’ve ever heard Dave on his podcast, you know he is a “no bullcrap” kinda guy who has a reputation for being very extreme (I don’t always jive with this), but he does have it right when it comes to money, even if you don’t want to hear it. 

I’m Not a Budgeting Guru

I am the first to admit I am very, very, far from being perfect with my budget (Matt can and will vouch for this). I still have some old money habits that stick with me that aren’t helpful. However, I can proudly say Matt and I have a plan to get out of debt in less than 5 years with our combined student loan debt, plan ahead to make purchases so we are not borrowing money for things we cannot afford, and are on a path to being debt free and building wealth. I feel like a huge weight has been lifted off my shoulders since I found budgeting. It brings happiness, joy and I feel so appreciative. 

Do You Budget?

Who is your budgeting guru? Why did you start, how do you keep it going? Do you avoid budgeting because you terrified to know where you money is going each month? I want to hear your thoughts! Drop a comment below and share your money story so we can blast this taboo topic and raise each other up to be our best debt-free selves!

Xoxo,

C