It's time to talk finances.
I'm someone that is pretty open to talking about my financial situation but haven't been that good at controlling it until this year. I've got quite a lot of debt and now have to seriously budget, but knowing what's going on in my bank account has helped me seriously reduce my stress and plan for the future. It's not something that can be learned overnight but is extremely important and if you can find something that works for you then that's a serious #bossgirl achievement!
Budgets = The Best Thing EVER!
When I was younger I was terrible with money and there was a period of time where I had endless money and spent like it was nothing. Some of you may know the reasons but I don't feel they need to be mentioned. Although it was great, it got me into a lifestyle that I couldn't keep up afterwards and has caused huge conflict in my life. When you get used to eating out all the time and buying things like Louis Vuitton handbags on the regular, it's hard to break that habit as you can imagine. I am cursed with a luxury taste for life and now I'm learning how to live with it.
I do not currently get paid for any content or anything to do with my blog. And I feel this is something that needs to be said. I spend a lot of my time on this and do not earn a penny, so although I am always working, I'm not always earning. I have a personal loan that I took out a couple of years ago for plastic surgery and although it's a huge financial burden, I have no regrets as I feel it was an important thing for my self confidence. Now the work comes in finding ways to live with the commitment instead of resenting it. I have a lot of monthly payments but I wouldn't recommend this at all. The feeling of paying off my credit card was awesome and I haven't used it since. Paying things monthly is great, but it adds unnecessary stress and if you can wait and save, do it! Now I spend my time finding ways to pay of my credit/loans early and not have all the interest. I'm building the foundations for my financial future rather than getting fast money.
All the income from my marketing agency goes straight back into the business and I don't see a penny. I am on a combined salary for two of my jobs and this is a very small base salary but it's enough to live on. I see this as a way to build my career without spending everything that comes in and it works for me. I budget for £50 spending money a week, that goes on food and clothes (barely any) and going out which I hardly EVER do. It might not sound much but when you can get lunch for about £2 a day and shop in Lidl its not actually that bad.
I keep receipts for everything I spend and never use contactless as it doesn't show on your account for a few days which can be deceiving. I try and make sure I never go over the £50 and if I do, I workout how I can rectify that the week after. Having a budget means I might still be worried about money, but I am in CONTROL of my finances and I've never felt more money-organised. Hopefully in the future I will earn money from my blog which is my passion, and eventually I'll be able to take money from my business, but for now I'm working out ways to make more including using my skills in photography to do weddings and other such things. This way it's a bit extra to pay off some of my debt without dipping into my salary.
The best advice I can give is don't commit to paying too much per month and please please live within your means. My life may look fancy (as I've been told a few times) but in all honesty it's not all glitz and glam. It's controlled. Don't get bogged down thinking about what you can't afford, just work for it and I promise it will come eventually. I might want the new Valentino flats now but I guarantee in a couple of years there will be another pair I want when I can actually afford them.
I hope this has helped anyone worrying about money and if you have any questions or need any advice, just message me!
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