Let’s face it, not many of us like change. Although not everybody may be a creature of habit, we all find patterns to sink into that make our lives a little easier. Sometimes though, we can get a little too comfortable with our current lifestyle, and find that bad habits are not part of our everyday routine. This can manifest itself in many ways, whether it be a late night snack before bed, not regularly going to the gym, or vegging out for way too long watching Netflix. I’ve also noticed this about myself in my own finances, namely in recurring monthly purchases. As both good and bad things can become habits, it’s wise to take a periodic step back and re-evaluate your budget.

How this plays out in my own life

For the first 2.5 years of my current job, I refused to pay the absurd $90/month parking fees that my building imposes. Instead, I spent 5-10 minutes each morning looking for street parking, which is free. This all changed a couple of months ago when my car got stolen while parked on the street. Everything worked out ok and I ended up getting a new car via the insurance money. Although the saying goes, “lightning doesn’t strike in the same place twice”, I certainly didn’t want to tempt fate by parking on the street again. I considered the past 2.5 years a gift, swallowed my pride and signed up for the $90 parking. A couple months into it, things have certainly gotten cushy. My schedule has adapted and likes the 20 minutes or so I save each day, there is less anxiety as I don’t have to look for parking (which isn’t guaranteed) and I’ve talked myself into the fact that it’s really not all that expensive (commuter benefits are tax free, so it’s more like $60/month). Taking a step back though, is this something that I am truly comfortable with paying for each month?

Another hot-spot in the budget is my monthly gym membership. For the past year or so, I’ve worked out twice a week at a Crossfit gym. I was frustrated with my old workout routine, had tried Crossfit in college and had become a believer. I was looking for a change and figured that it was an investment in my health. I was able to get a pretty good deal (for a Crossfit gym) and paid $95/month. A year into it, my renewal was up, and of course, the rates were going up. I was now either forced to quit (this was still the cheapest gym in town) or pay $135/month. I ended up keeping the membership. Crossfit had become a ‘cushy’ expense in my budget. Conveniently it was right around the time that I was getting a raise, and so I felt that I could afford it, and that I ‘deserved’ it.

Taking a step back

Every couple of months, it’s good to take a fresh look at your budget. As I’ve seen in my own life, and you’ve probably seen in yours, things will start to get comfortable and cushy after a while. We get in our routines and habits, and they become like second nature to us. When it gets especially dangerous is when it’s an auto-charge on your credit card. Ever wonder why companies make it so easy and push so hard for you to sign up for auto-pay? It’s because they know you’re likely to forget about it, or be too lazy to cancel.

Take a step back and examine the expenses on your budget? Do a little shopping around, are there any better deals being offered out there now? Could you switch internet providers? Maybe you could check out that new gym that’s opened down the road. Do you still really need that magazine subscription that you barely read? How about picking up a frozen pizza instead of ordering delivery?

The answer’s not always yes

When you’re taking a look at your budget and deciding if you should cut something, it won’t always be a “yes”, I should cut it. Sometimes we truly can afford things, or have things in our lives that we really enjoy. Not every dollar you spend is bad and needs to be cut. But perhaps by taking a fresh look, you’ll find things that you don’t need or don’t enjoy as much anymore.

Take a look at your spending habits this week, and see if there’s anything that’s gotten a little too cozy in your budget!

Happy wedding season! I’ve got 5 weddings scheduled this year and I’m pretty pumped about them! Brides and grooms, consider having your registry on Amazon! We all know how easy (and fun) shopping on Amazon is, so why not have your registry on it too? – Ben