9 Ways You're Sabotaging Your Budget Without Realizing It

In this episode, Chelsea breaks down some of the most common budgeting mistakes we've seen people make over the years, from not tracking their spending to using the wrong tools.

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[bellasmith]

*"Unless you like noodleing around in excel sheets in your spare time like a psychopath"*
Me sitting here with my excel sheet that I just learned how to do in my spare time 🥺
😂 I don't think I've ever made it through a single one of these videos without being called tf out 😅

[shamainedaniels]

So my ex and I would create spending plans each week and we would always run over budget and we never knew why. I then decided to use mint because maybe I was missing something. It turned out my ex was an alcoholic so never saw his alcohol purchases as unnecessary. Needless to say he spent the next year trying to convince me his alcohol purchases were mislabeled by the credit card companies and needles to say that besides the financial drain, having a third party present your expenses can also bring to light other problems in your household.

[whyaminotoriginal]

I FELTTTT that rant about streaming services...we've been duped

[xsakuravenx]

Underestimating What You Actually Spend 1:09
Not Including Irregular Spending 2:09
Not Auditing You Recurring Expenses 3:11
Continuing the Same Negative Spending Habits 4:22
Doing It All Manually 6:09
Planning To Save After You Spend 7:42
Not Automatically Divvying Paychecks 8:53
Not Adding An Income Stream 10:43
Spending You Emergency Fund On Non-Emergencies 12:20

[sim]

The biggest is not knowing the emotions and patterns that cause you to spend.
- what time of the day do you spend
- is it online or in person
- do you have friends/family/coworkers who you spend more when around them
- do you have other categories in life that you go overboard (eating, drinking, sleeping, etc)
- do you have issues saying no and/or you cant moderate once you open your wallet
- how is your mental health (anxious? depressed? dealing with trauma? Neuro-divergent? (Me))
- how are your family/friends/coworkers with money?
You can make the perfect, most realistic budget that you can actually follow, but if you cant control your emotions, you cant control your spending.

[carmelcostigan]

On subscriptions I buy for a month or two then cancel and switch to the other one. Watch all the new releases I want them move again. I realised after buying netflix for 4 months and not once turning it on. So I pick and choose as things release

[JAH-iuyh]

Another urban spending issue: parking! I signed up for park & ride at work which is $15/mo, instead of paying $13 or 10/day to park at my office. I thought the park & ride would stress me out leaving my vehicle in a lot all day, but it is looked after and nice to be able to close my eyes for a few minutes on the way to & from work on the shuttle bus☺️
Convenience spending gets me. Hello Grubhub! That’s for another day

[dimplesd]

I hollered when you said Target! I budget and have, saving and investment with no debt, but my addiction is Target. So I budget $200-300 a month for “Target therapy” PS I’m typing this comment FROM the Target parking lot. 🤣

[hollywatt]

My personal point of view of streaming subscriptions: have maximum of 2 subscriptions. Time is so precious, control the amount of time you sit in front of a TV. Get out of the door or go and learn something new! You will thank me later.

[mouseluva]

ExCUSE ME! I will have you know that my budget spreadsheet is a work of ART!! My student loan only comes in three times a year so I'd be lost without it each week!

[nsikamarietaylor]

I’m one of those people who still write ✍️ out my monthly budgets and link it up to my paychecks 2x month. It has HAS saved me!! I guess I’m a control freak but at least I can see what and where my money 💰 is going! I’ve been experimenting with this for a year now, and I haven’t gone in the negative. A first in over 7 years!!!’🤓

[katywillett]

Irregular spending. When we had a dog, we knew about the big, annual vet trip (larger dogs pay more for prescriptions?). But quarterly trips to book stores never seemed to get looked at. Until I looked. While I still buy books as gifts, after looking at book spending on annual basis - am now eReader with library. Hundreds and hundreds on books.

[leab]

I rotate my streaming services. I don't have to have them all at one time. There's only so much a person can watch lol. Patience is a virtue. Those shows will still be there when I sign back up for them.

[portalomus]

Thank you for the rant about streaming services. I got one just to watch one movie, and then two days later the film was no longer on that service...or any other! WTF?

[Nikdislikesyou]

Hello! I have adhd and i have a real problem impulse spending is extremely hard to budget. Would you please make a video targeted to adhd or neurodivergent friendly budgeting tips please

[arielpeterson]

Definitely felt that rant about streaming services. The cable companies have bested us. Damn them.

[janellentim]

My mom just signed back up for cable. After years of paying for different streaming services the price difference wasn’t significant enough to justify.

[MrsBlack]

Great video! Exactly what I needed! Thanks!

[impressionsofjapan]

I do add my spendings manually because it activates pain centers in the brain like when you use cash instead of a card. Especially the things you regret buying because you have to confront the numbers one more time.

[carla]

The thing is when one cannot work because of a disability and solely relies on government benefits such as SSD SNAP (food Stamps) medicaid and medicare which do not cover all medical costs or Put you on a spend down plan (Medicaid) Because you "have an excessive income"
($ 1000) per month it is very difficult to budget. This country is not set up in such a way to help those who live below the poverty line it is set up in such a way that the rich get richer and the poor stay that way. America needs to take a look at other countries who help the poor rise up in society by offering services that will help them rather than keep them in their place.