350: How to budget over the holiday season (and in general)

We are excited to be recording this episode in a brand new space, in Emma’s new home. In this episode, we chat about budgeting over the holiday season and how not to blow your budget. As business owners, we’ve gone through this journey of having lots of cash and then nothing, so through the ups and downs, we’ve become very good at budgeting for our business. And for our lives.

This is what we spoke about during the episode

• You have to be realistic about how much you can spend and how much you can save. Awareness is important.
• We don’t have a credit card. The cons outweigh the pros.
• Spend less than you make.
• Whether you have a business or a salary, aim to have a financial buffer in your bank. 3 months, 6 months, 1 year of salary or expenses.
• Know where your money is going, check-in and reevaluate what’s necessary and what’s not. Cashflow forecasts are really great tools to monitor your income vs. expenses.
• Make it a goal to bring up the money subject with your partner.
• Seek therapy when money impacts your mental health.
• Don’t try to keep up with the Joneses.
• Check-in with your values when spending money.

Life is always ebbing and flowing. Sometimes we spend more, sometimes we spend less and there’ll be events when we need to re-look at our expenses.

We would love to hear from you, send us an email to carla@themerrymakersisters.com or emma@themerrymakersisters.com or message us on our Facebook and Instagram accounts @themerrymakersisters.

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Always merrymaking,

Emma + Carla

P.s if you ever need further help or guidance please contact Lifeline or Beyond Blue. Asking for help is pure courage.

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