Needs vs Wants…keep track

Hey guys’ve again…:)

One of the things I have been conscious of in the last few months has been working through my budget or expenses and identifying what I consider a want or a need.

There are multiple guides online as to what should be considered a need, but at the end of the day, peoples circumstances and mindset dictate what is a need to them depending on their circumstance.

For me, most of my needs fall into the physiological and safety categories identified in Marslow’s theory(see diagram below).So for illustration purposes, my typical budget will look like this, rent, baby’s nursery fees, bills, credit card and debt repayment.All these listed fall under a must-do/needs category for me.Every other thing is a want as it makes my life more exciting or interesting but I don’t actually need it to survive.E.g of such things include ASOS clothing or shoe shopping and using streaming services like Netflix or Apple TV.

Your ability to discern or decipher which is which is what will help you achieve your spending goals, allow you to live within your budget/means but unfortunately this tends to become the tricky part.

I have been loving Dame Ramsey’s approach, as well as some YouTubers approach to minimalistic living and wise spending in general.Its something I have found to be interesting and incredible and actually very sustainable if you are disciplined.

As biased as this may sound,I would like to suggest that I favour that approach very much and would encourage readers to visit some of their content and start practising or living that way as I have tested it and it has been worthwhile.I have occasionally slipped, i must admit but in generality has been super helpful to me.

On needs and wants, a very honest and detailed review of your budget will be necessary to be able to decipher this so you know where to invest your money more and cut out debt or leakages.

Like I said for me, my wants are streaming services and are things I can generally cut back on to save some money and eventually get to the debt-free life I am aiming for.

As always,i hope this was a good read and all the best with reviewing your needs and wants.

Image is from Canva (not mine)

Relationships and why team work matters

If you have been following this blog for a while, you will know by now that I don’t only discuss finances on here.

This blog is literally a curated brain dump and also an extension of my YouTube.

I was a bit hesitant about sharing stuff like this on my blog this year but why not?right?

So here goes, I filmed the video below a few days ago and managed to upload it last night.Feel free to watch, subscribe and leave a comment as I have to say about relationships and would love to gain more wisdom in that area.

What is a relationship lesson you have learned recently?Please stick your answer below or in the comment section below my video.

On my mind

Hey guys,

A few days into February and my mind has been wondering and just looking for wisdom like literally everywhere as always.

I tend to do this to inform my goals and priorities for the year usually. So, while looking,I stumbled across one of my handwritten notes below which is more like something I would normally post about on my YouTube but I thought I’d post it on here anyways.

It is a quote inspired by a scripture in Proverbs 16:18 which says Pride goes before destruction and a haughty spirit before a fall.

It’s just something I’m always mindful of to help me walk in humility as God continues to lift me up and I start winning more in life.

I hope we can all practise that because 2023 is set to be a great year for all of us if we make the right moves.

All the best guys!

How January 2023 went…

We are a few days into February 2023 and as always I can’t help but do some reflection on how the previous month went.

I tend to revisit my budget at this time normally, examine the areas where I leaked money as well as areas where I think I lived with an inflated lifestyle mindset then decide the course of action for the new month.

On reflection,I did go a bit crazy needing change and ended up spending quite a bit on wayfair.co.uk stuff to update the look of my room.

I bought a new study desk and replaced my wardrobe which cost me just over £277 I wasn’t prepared to hemmorhage but I did anyways hoping it will be a great investment and set the tone for me wanting to live more active, proactive and productive life this year as opposed to a sedentary one.I really do hope it pays off and I can get a return on what I will call an investment at this point.

Looking at my January expenses, let’s just say, after careful consideration, the most sensible thing for me to do this month and beyond, is to look at ways to increase my income as cutting back can only do so much for me with the income I have.

Id be super transparent and declare my income right now but I don’t think I’m comfortable doing that just yet so I will wait for a future post so you can get a better perspective of what I am saying when I say I need to earn more.

One main thing I have discovered I need to cut back on at the moment though is streaming subscriptions.

I currently have Amazon Prime Video, Netflix, Apple TV. I also had Disney Plus which I have cancelled as I can barely watch all of this together with the youtube content that I am currently consuming.I am leaning towards keeping Netflix only but again I will update you in a future post.

I also realised that I needed to cancel my Graze subscription which I have just done just before this post as its a waste of money at this point.I am not sure I need it as Im home all the time and practically eat all day.

I will be reviewing other areas of my budget and cut down on another expense in February as I have a “huge”saving goal I am working on this year.

My goal of February is to not make any unplanned purchases and live within my means so let the discipline begin.

Please feel free to share some of your February budgeting or money goals below.

As always, until the next post.x