My Daily Dollars

For the last week or so, I feel like my husband and I have been spending like mad.  To wit:

1. A new car
2. stepdaughter’s birthday presents and party
3. new shoes (me)
4. new shirts (2 for him, one for me)
5. cologne (him)
6. a new watch (me)
7. very expensive juice (him. . .how expensive could juice be?  you’d be surprised!)
8. groceries and wine
9. dinner out (me)
10. plane tickets for Christmas

What’s interesting is the justification for each item:

1. see recent post. . . we’ll drive it for 10-12 years
2. must do
3. old ones were REALLY shabby
4. very cute
5. ran out of old lotion.  . .this was a great boxed-set deal
6. early Christmas present
7. could help his back pain
8. necessities
9. wanted to catch up with friend
10. want to visit parents. . . kids have never flown

For each item, there’s a (mostly) rational explanation.  Even so, we could have gone without each and every purchase, expect for groceries.  On one hand, it’s all good because we can afford each purchase.  I haven’t gone over budget for the month; in fact, I’m on track to save a little bit this month.  Christmas and birthdays are regular expenses, so we’ll allow for that in the budget.  On the other hand, I feel like we have left the frugal zone completely.  Once we opened the door to spending, it’s become easier by the day to spend more.  Shopping certainly begets more shopping!

What’s troubling me these days is how should we wisely balance spending money and saving money.  When I was paying off my credit card debt, I was so focused on paying it off that I did so six months ahead of schedule.  However, in order to do that, every extra penny (often my “fun” money) went to my debt.  It was easy to sustain that “crash diet” mentality for a few months, but I know that we can’t realistically do so for years and years. 

I’m now trying to figure out why spending money that is budgeted for spending is bothering me.  Between my savings and retirement contribution, we’re saving  about 20% of our combined income, as recommended.  The car payment moves us from 25% to 20%, but we’re still saving far above the national average.  Even so, I’m uneasy about spending what is actually budgeted.  I think, in some ways, I have yet to trust that the budget will get us to our financial goals.  Since I sent in that last credit card payment, I haven’t relaxed my debt-reduction mentality.  Well, I have started spending again (see items 1-10!), but I now feel guilty about those purchases.

Another factor is my old two-budget mentality.  I spent so many years over-indulging and feeling guilty, that now guilt is an integral part of the shopping process.  Even if I can now afford what I’m buying, it’s hard to shake off the guilt.

I do think we need to sit down and plan a Christmas budget, especially since travel is a big part of it.  We also have yet to draw up a detailed budget for the things my husband buys.  I think once we do so, then I’ll feel more comfortable.  I’m also tossing around the idea of meeting with a financial planner.  I was able to  draw up a plan to wipe out my credit card debt pretty easily, but planning out the next twenty or thirty years’ of financial goals is turning out to be more daunting.  By meeting with a professional, I might be able to trust our plan more.  By trusting that the budget will really work, I can trust that it is OK to spend money when we need to.  Then, finally, I may be able to shake this budget guilt!

Anyone out there have advice on finding a good financial planner?