This week, I got some time to review my monthly and annual budget and what I saw was very disheartening, I am very tight on my monthly budget. And my annual goals some how seems to be absolutely out of place, I by no means can achieve them this year. I applied all the mathematics that I could think of but all in vain.
I felt so depressed and felt why am I doing all this? I mean I spend my time on keeping an account of everything and dealing with money judiciously. I can be like rest of the people and enjoy my life smoothly without worrying too much about the future. But then, instead of worrying and thinking about others, I rather listed why I am short of my goals this year:
1) I got married recently, so used lots of my funds in process
2) I am in the process of setting up my new home, so I need at least the basic stuff for my place
3) Inflation is quite high
4) My husband has different spending habits then mine.
These points highlighted the main reason; my budget was not prepared for reason 1, 2 and 4. And this is something causing the problem. I guess, next year I’ll be able to take into consideration these things as well and set achievable goal.
This also gets me to one of the main learning: Just because I practice good Personal Finance doesn’t mean that:
1. I’ll never miss my targets.
2. I will never face hiccups in the process.
3. I will never have unpleasant experiences.
The only things that sound personal finance will help me with are:
1) I’ll be more prepared to deal with financial problems.
2) I’ll have data to look into past and see where I went wrong, so that I could learn from
3) I can better plan for my future.
So personal finance is basically not a magic pill, rather it’s an institution that equips you with necessary knowledge and tools to deal with problems and be better prepare for future.