Gone are the days of puzzling over YNAB's target types!
For years, we've all asked ourselves. Which target type for what expense? How to adjust for more funds? How to tailor targets so it does what I expect it to do?
Now, YNAB simplifies targets. Whether you are online or mobile, just specify frequency, amount, due date, and action for the next interval. Easy, isn't it?
If you haven't seen it yet, anticipate it in your budget soon!
Gone are the days of puzzling over YNAB's target types! For years, they've left users scratching their heads. Which one for what expense? How to adjust for more funds? How to tailor targets? Now, YNAB simplifies targets. Just specify frequency, amount, timing, and action for the next interval. Easy, isn't it? If you haven't seen it yet, anticipate it in your budget soon!

Do you want to meet to go over your targets and learn the new way of doing things? Let's set up a time to chat!

Do you want to learn more about targets on your own? Check out YNAB's how-to!

While we're not typically big spenders, the no-spend month prompted us to rethink our purchases, emphasizing intentionality over impulse buys.

Date Nights
Initially, our date nights were more creative and elaborate, filled with planning, shopping (for a few fresh ingredients) and cooking together. I even made the table look a little more special than usual. However, as the month progressed, we found joy in simpler pleasures like homemade popcorn and ice cream. That counts as dinner, right?

Family Vacation
Despite the no-spend commitment, we still enjoyed our pre-planned family Christmas vacation. It had been planned and mostly paid for months earlier.
Tangent: We decided as a family a few years ago to buy less Christmas gifts and spend most of our Christmas budget on a family trip instead. Opting for quality time instead of quantity of gifts has been a nice change. Tangent over.
We opted for snacks and cold cereal from the grocery store rather than eating out every meal. We chose free activities in the area and the only souvenirs we brought home were some dirt, pictures and fun memories. 

Kids' Perspective
When I asked my kids about the no-spend month, they expressed that it didn't feel significantly different for them. It seems they've grown accustomed to adhering to our spending plan and hearing, "not right now."

Husband's Reflection
My husband, who was the instigator of this little experiment had this to say, “I found myself holding back on what would otherwise be impulsive buys. It made me think about what I really needed vs wanted.” He held off on buying some high-priced tools he really wanted, but knew it wasn't the priority (I'm sure they will make their way into his shop eventually).

Conclusion
Reflecting on our experience, a no-spend month proved valuable in realigning our spending with our values. It's a chance to assess priorities and ensure our financial decisions enhance our lives in meaningful ways. A lot of the stress people experience with regard to finances is due to the misalignment between our spending and our values. Are we really spending with intention on those things which will enhance and improve our lives; or are we spending on things that will give us a quick thrill, but don't add much value? We plan to try this again.

What are your thoughts? Would you consider embarking on a no-spend month with us the next time we give it a go?

During our yearly couples planning retreat this year, my hubby, tossed out this idea for a no-spend March. "Let's see how much we can save by giving the extras a break," he says, all hyped. He’s sure we are going to be millionaires at the end of the month by not ordering Amazon!

Four days in, folks (at the time of writing)! Together, we've put the brakes on non-essential spending. No more dining out, even on date nights – we're rocking the kitchen. Amazon quick buys? We're resisting the siren call, and our Costa Vida cravings are being set aside. Now, we don't live large, but we do have our weaknesses – hello, Costa Vida and movie downloads.

Here's the scoop – we're still hitting the grocery store for planned meal ingredients, and we're keeping things like a pre-planned family getaway later this month in the plan. We're not going full hermit mode, just putting the brakes on the spur-of-the-moment non-essentials.

Do you think a No-Spend Month Adventure sounds like a fun challenge for your family? Here are a few steps to prepare:

1. Identify Your Weaknesses: What are those spending habits you want to curb? Be real about it. Whether it's that daily coffee run or those online shopping sprees, acknowledge your financial Achilles' heel.
2. Set Clear Guidelines: Determine what 'no-spend' means for you. Are you cutting out dining out, impulse buys, or both? Establish your own rules to keep it realistic for your lifestyle.
3. Plan Your Essentials: Recognize what you need to spend on, like groceries or planned events. The goal is to trim the excess, not deprive yourself of necessities.
4. Create Alternatives: Think about how you can still enjoy life without spending. Movie nights at home, cooking adventures, and free local activities are great substitutes for pricey outings.

As we're just kicking off this no-spend March, we are feeling optimistic. I’ll be back next month to let you know how it went. So, who's in for a No-Spend Month Adventure? 🌟💰

Ever felt that knot in your stomach when checking your bank balance?  Money isn't just about the numbers; it's a rollercoaster of emotions. Emotions wield considerable influence over our financial decisions, making it crucial to unravel the connection between our feelings and our wallets.

Understanding the psychology of money begins with acknowledging that our financial journey is deeply entwined with our emotions. Here's a brief guide on how to navigate this emotional landscape on your financial journey:

• Trace Your Money Roots: Take a stroll down memory lane. What attitudes toward money were instilled in you during your formative years? Recognizing your money narrative sheds light on your emotional connection to finances.
• Spot Emotional Triggers: Identify the road signs that prompt emotional reactions. Whether it's stress-induced impulse buying or avoiding money discussions, recognizing triggers empowers you to respond consciously.
• Craft a MAP (Money Allocation Plan): Move beyond a traditional budget and create a Spending Plan. Tailored to your values, this MAP not only tracks expenses but aligns your spending with what truly matters to you, offering a more meaningful and emotionally satisfying approach.
• Exercise Mindful Spending: Before green lighting that purchase, hit the bakes and assess your emotions. Are you buying to soothe emotions? Mindful spending helps distinguish between needs and wants, fostering intentional choices.
• Set Realistic Financial Goals: Align your aspirations with your values by setting achievable financial goals. Concrete targets provide purpose, helping you manage emotions and stay focused on your financial journey.

By recognizing the emotional landscape of your finances and incorporating a personalized MAP for your financial journey, you not only gain financial clarity but also foster a healthier relationship with money – one that harmonizes your emotional well-being with your financial goals.

“We can’t afford that.” I think this is one of the most used parenting phrases. Would you agree?
“Can we get some Chick-fil-A?” 
“We can’t afford it.” 
“Can we buy that video game?”
“We can’t afford it.”
I’ve made a commitment never to tell my kids we can’t afford things ever again. 

Scarcity Mindset
Recently, I came to the realization that by using that phrase, I was creating a paradigm of scarcity in my kids. Always telling them we can’t afford something could make them wonder what else we couldn’t afford. Can we afford the electric bill, the house payment, or the groceries this week? It could also cause them to not ask for things they truly need, but are sure we can’t afford (like when their shoes get too small or all their socks have holes in them). I never want my kids to worry that we cannot pay for the necessities in life. I also never want them to think they are stuck and will always live a life of scarcity - always thinking what we really want is not something we can afford - dreams are always out of reach. This is simply not true.

Can’t afford is a lie
When we really think about it, most of the time when we say, “we can’t afford it,” what we really mean is that we don’t want to spend our money on that particular thing at that time. We have other priorities for our money - like the electric bill and groceries. If we really wanted to tuck some money away each paycheck for a video game, we could; and, after a time, we could “afford” it, but we have other spending priorities.

Saying we can’t afford it puts us into a victim mentality implying we are powerless to change our situation. It says, “I have no control over my situation.” I never want my kids to think they are powerless to change their circumstances. 

Scarcity vs Priority
Changing our response from “we can’t afford it” to “that is not a priority for our money right now,” shifts us from a place of scarcity to a place of possibilities. It’s no longer about not having enough; it’s now about planning and priorities. We can teach our kids that anything can be within reach with some hard work and good financial prioritizing. When we take “afford” out of the equation, we make it all about possibilities for ourselves and our families. It puts us back in the drivers seat and in control over our financial situation.

Teaching financial principles
Taking it a step further, teaching our kids they can save up for those wants themselves helps them realize they have the power to make their lives what they want. Helping them to prioritize and manage their own money helps them see how priorities in budgeting works; and how they can reach for those dreams themselves.

There are some wonderful financial principles your kids can learn when you encourage them to save up for things they want:

1. Goal setting with money: One of the most basic principles in budgeting is to set goals for your money. You can also call this budgeting your money. It’s where you decide what your wants and needs are and make a plan for all your money to pay for those wants and needs.
2. Opportunity Costs: This is an important principle for everyone to learn. If I spend my money on these movie tickets, it means I won’t have the money for buying the video game I want. Weighing the opportunity costs helps us really dig deep to know what our true priorities are.
3. Every dollar equals minutes worked: If your kids are working to earn their money, teach them that every dollar equals time worked. If they earn $10/hour at their job, that video game means 7 hours (or 420 minutes) of working time. This can also help them narrow down their priorities. Is it worth all that time working? If it is to them, great! They’ve identified their priorities.

Financially empowering our kids with the knowledge that they have the ability to choose, they are not victims, and they can achieve their goals and dreams; allows them to develop a healthy relationship with money. In turn, this will help them have greater financial success.