Top Tips for Handling a Bad Money Month
Guest Blog by Money Healing Club Moderator, Melissa Jensen
April was a very bad money month for me.
✈️ First off, I'm getting ready for a trip, which somehow always leads to spending more than I expect. 💸 Second, I had a few surprise expenses that really dented my budget. 😳 And then, I committed to a birthday weekend that I completely failed to budget for. 🎉 With these three hits, my monthly budget was gone by mid-month... and then I kept spending. 😬
This is a pattern I've discussed in the Money Healing Club. It happens occasionally—I blow my budget and then think, "Well, I might as well keep shopping." 🛍️ It's a kind of revenge spending: since I had to spend my hard-earned cash on things I didn't plan for, I justify indulging in what I want, even if it's not in the budget. The kicker is that I'm the one who suffers from this "revenge." 😖
This isn't my first bad money month, and it probably won't be my last. Here's what I've learned from my past experiences to help navigate these tricky financial times.
🧘♀️Take a deep breath—it’s all going to be okay.
No, really. Even if you had to dip into your savings or rack up some credit card debt. 💳 Even if you had to borrow money from someone. These tough months, and others like them, don't define you. They're just minor bumps in your journey toward financial healing.
💰 See if you can make some quick cash
Is there a way to earn a little extra money to offset your expenses this month? Consider babysitting, tutoring , selling items you no longer need, collect money owed to you, or even writing a blog post! ✍️
Take a closer look at your recent purchases—now that the initial thrill of buying them has worn off, do you really need them? If not, can they be returned? 🛒 Having some extra cash isn't essential, but it can certainly ease some stress and give you a bit more breathing room as you navigate the next steps. 💆♂️
🔍 Examine what went wrong
When I used to have bad money months, my go-to strategy was to ignore it and promise to do better next time. The trouble was, I didn't know where I was messing up, which made it easy to repeat my mistakes. 📉 To really understand what happened, take a look at your purchases. Do you notice a pattern of overspending? 🛒 Were there specific dates or times when you fell into bad habits? ⏱️ Try to think back and identify any triggers that might have led to your financial slip-ups. This way, you can tackle them and avoid repeating the same mistakes (and know that these challenges and triggers will come up again). 💡
📝 Make a plan
How can you prevent this from happening next month? It might involve careful meal planning to reduce takeout expenses. 🍽️ Maybe it means focusing on paying down debt. Or start funding an emergency savings account for those unexpected expenses. 💰 I'm not a big fan of spending bans, but if that works for you, you could try limiting clothes, books, or online shopping for the next month (not forever, just for a month). 👗📚🛍️
The key is finding a strategy that allows you to take concrete steps to reduce your spending and make a positive change going forward. Whatever plan you create, make sure it's practical and suits your lifestyle.
The Money Healing Club is always a key part of my plan. Attending the live events and reading forum posts always helps, both because of the topics and the shared community. May’s Club theme is Spring Cleaning 🧼 and after an emotionally cluttered April, I need it more than ever!
🌸 Forgive yourself
This brings us back to step one—remember, a bad money month doesn't define you! It doesn't mean you're bad with money. I used to let it reinforce my own negative narrative that “I’m bad with money”. 💰 But really, I'm pretty decent at managing my finances. It’s just that sometimes, my generational money trauma leads to emotional spending. Also some months are simply more expensive. And that's totally okay! 🌈 Just think about it like this: April showers bring May flowers. 🌧️➡️🌷 Learn from the experience and carry those lessons into the future. 🌟
In the end, it's important to remember that everyone's financial journey is unique, and setbacks are a natural part of growth. Embrace the fact that you're learning and evolving through each experience. Give yourself grace and understand that change takes time and persistence. By acknowledging your past mistakes and forgiving yourself, you're taking a crucial step toward a healthier relationship with money. Take the lessons you've learned from your bad money months and use them as stepping stones toward a more secure and balanced financial future. Notice the pattern, and the pattern will get less intense.
And always remember, you're not alone—there's a whole community cheering you on as you navigate the road ahead. Keep going! You’re probably better at money than you give yourself credit for! 🌈🌟💪
Melissa is a moderator in the Money Healing Club. Are you ready to transform your relationship with money and reclaim control over your financial future? Join the Money Healing Club today!
At the Money Healing Club, we offer a supportive community and expert guidance to help you heal your money mindset, overcome financial challenges, and achieve your wealth goals. Whether you're looking to pay off debt, grow your savings, or deal with money stress, the Money Healing Club provides the resources and support you need to thrive.
