The Birth of Fearless Budgeting

Listen to this blog post: “I Can’t Stop Spending!” podcast, Episode 053.

I’ve decided to create a series of spending plan training podcasts because it feels like that is the most important information I can offer you right now. If you want help creating or maintaining a spending plan, this podcast series is for you. Even if you already have a spending plan, the training will be a helpful refresher and will likely provide you a with new perspectives and tips. It’s the exact same process I’ve successfully used with my one-on-one students for seven years. And there’s no charge for this podcast series.

The Birth of Fearless Budgeting

I decided to call my training podcast “Fearless Budgeting.” I wrestled with this name for months. As you may know, I despise the word budget, but I strongly believe in the act of allocating money to categories, which is the definition of budgeting. I’ll go into more detail about spending plans vs. budgets in a later episode. But “Fearless Budgeting” truly encapsulates my overriding approach … to gently take you by the hand and help you overcome your terror around facing the truth of your spending, which is a crucial first step in the process, and to ease you into a practice that will keep you clear around your money and engaged with your spending plan ongoing.

By the end of the series, you will have a spending plan foundation and you will know how to work with your spending plan ongoing. And, you can always arrange a one-on-one session with me if you need additional help. Just go to FearlessBudgeting.com/training for details.
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New YNAB Training Video Available – Tracking Cash Spending in YNAB

I just created a new training video to help YNAB users. This is part two about tracking cash in YNAB.

(Sign up here to get 34 days free to test YNAB.)

In this video, I go over how to track spending cash in YNAB as well as how to reconcile the cash account. In part one, I go into depth about receiving cash. In both videos, I demonstrate how to do split transactions as well.

First Spending Plan Training Video Available: Tracking Cash in YNAB

I finally finished my first video to help people with their spending plan! This first video walks you through tracking cash in YNAB. It’s an area that many people find confusing, so I wanted to make a video walking you through the process.

Boy, it was both fun and challenging learning how to animate PowerPoint and getting the video to match the audio. 🙂

It starts off with some discussion about the topic of tracking cash, but you can go right to time stamp 3:13 to see the step-by-step demonstration.


 
I’d love your feedback on this video. Thanks … and I hope you find it helpful.

Web-Based YNAB: My (Long) In-Depth QA Review

If you are a follower of this blog, you know that I am absolutely in love with YNAB software for managing my spending plan. YNAB stands for “You Need a Budget.” It has been a magical solution for many of us working a recovery program as it is an easy to use, virtual envelope system.

Their newest offering appeared just a few days ago. It is a web-based, subscription version that is intended to replace YNAB 4, which lives on your computer and can be saved in DropBox so you can work on it across all your devices through their Android and Apple apps.
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Budgets vs. Spending Plans

I just came across an article that perfectly describes the difference between a spending plan and a budget:

Why I Like Spending Plans Better than Budgets

We are blessed that our program recognizes that a budget won’t work for compulsive debtors and spenders, who rebel against deprivation. While we live within our means in D.A., how we do that is where the art of creating a spending plan comes into play. This is why it is wonderful that we have the tool of a PRG (pressure relief group), where two other recovering members meet with us to help us develop and maintain our spending plan, which can change with life circumstances. This team also keeps us from going to extremes either way — by allocating too much to our wants or or debts — helping us live a balanced financial life.

Anniversary Announcement

June is the one year anniversary of this blog. For at least a year prior to inception, I felt increasingly nudged, then pushed, to write about my experience, strength, and hope in recovering (one day at a time) from the disease of compulsive debting and spending.
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Potato Chips

“I can’t ask God to help me overcome my desire for potato chips when I’m finishing off another bag.” Page 84 Drop the Rock

That sums up Steps 6 & 7 in a nutshell. Perfect analogy. Yes, God CAN do for us what we cannot do for ourselves, but we still have to do our part. Our part may seem impossible, but that is just the fact of it.
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Vision or Hallucination?

Here is a quote from the Debtors Anonymous Ways and Means Newsletter from Quarter three, 2011, page 3:

How many people in your group are waiting for their Vision before they’re willing to not incur unsecured debt one day at a time? We’ve heard it before. A vision built on active debting is a hallucination. One great way to make a vision fall apart at the seams is to build it on debt. I’ve been there. All the pretty magazine pictures on a Vision board don’t mean much if the underlying foundation they’re built on is debt.

I can TOTALLY relate to this. In DA, I must live in reality, not fantasy. It was so true for me regarding the “businesses” at which I was throwing money with no return. I used the excuse that these were my visions to continue justifying spending that was needed for other parts of my life, and which, in large part, increased my pre-DA debt to $33,000 (before I came in the second time around, after getting completely out of debt in DA the first time around in 2000).
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Obsession & Craving

Here is the best explanation of the difference between obsession and craving that I have read: Joe and Charlie describes obsession and craving

The “Doctor’s Opinion” in the Big Book (BB) also describes the phenomenon of craving.

On page 30 of the Big Book, it states:

The idea that somehow, someday he will control and enjoy his drinking is the great obsession of every abnormal drinker. The persistence of this illusion is astonishing. Many pursue it into the gates of insanity or death.

We learned that we had to fully concede to our innermost selves that we were alcoholics. This is the first step in recovery. The delusion that we are like other people, or presently may be, has to be smashed.

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Entitlement Part 2

My son graduated college two weeks ago. He fully expected to walk out of graduation into a job. But his Higher Power had a different plan in mind. My son interned at an ad agency during his last semester and found a calling as a copywriter. The agency agreed … as did the clients. His ideas and scripts were produced. He was led to believe that he would be hired. But as the weeks of his internship went on, a sure thing led to uncertainty. And by graduation, he was told that there was no job available, but they would try to see if they could possibly add him as a freelancer. And so he waits. And mopes.

I am a “Baby Boomer,” not a “Millennial” like my son. Yet, as an addict, I suffer from Entitlement-itis – the feeling that I deserve what I want and don’t have to follow the rules to get it. I “should” be given what I want without effort and I shouldn’t have to go through the effort put forth by “regular people” to accomplish goals. Even my smallest effort “should” be rewarded by accolades and riches.
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