When you fall off the Frugal Wagon

If you are on a strict budget that doesn't include eating out more than a few times a month (and even then, it's only ordering a pizza), it can be hard when your friends call and say "Hey!  Let's check out that new restaurant that opened!".  Or you meet some friends for a lunch that isin your budget, and then walk around the mall with them watching them drop $250 on clothes while you are wondering how much longer you can make your children's sneakers last.  Perhaps you even give in and pull out the credit card and in one fell swoop eliminate any headway you made on that credit card balance in the last 2 months.

When that happens, how do you get back on track?

The first thing to do is look at what you purchased.  Was it a necessity? (note - a hot pink suede jacket, no matter how good of a sale, is not a necessity).  If it wasn't a necessity and you are able to return it...do it.  I know it hurts...those candlesticks really were just what you needed on the mantle.  But take them back.  Seriously.  Take them back.  You'll feel better if you do.  I mean it.  TAKE THEM BACK!

If it was a necessity - then perhaps you need to re-evaluate your budget.  Your budgeted spending  will likely change each month, especially in the beginning.  For instance, when you worked out your gas/auto budget, did you include the money for oil changes that you will have to have every 3-4 months?  No?  Then now you know that you need to pull out an extra $10/month going forward, so that when you do get one in 4 months, you will be able to pay cash. 

Next take a look at how you were able to fall off the wagon.  Are you still carrying your credit card in your wallet "just in case"?  Pull that sucker out!  If you continue to carry it with you, you might find how loose your definition of an emergency becomes...to the point where a 50% off sale at Chico's becomes "an emergency".  Put it in a drawer and only pull it out for the true emergencies...or better yet, make sure that you have an Emergency Savings Fund (even just $1000) in place before you start attacking your debt...so that if you have a ER-visit copay or the transmission falls out of your car, you can use that Emergency Savings Fund instead of the credit card.

The next thing is to forgive yourself.  If you are still at the point where you are tempted to pull out the credit card, then chances are you are still trying to adjust to your new frugal lifestyle.  I'm not going to lie to you...it can be really hard at times.  Just keep your goal in mind..whatever that goal is (paying off the credit card/car/house, funding your children's college fund, saving for retirement).  Look back at the reasons that you decided to become more frugal.  Unless you hit the Powerball since then, I bet those reasons are still applicable to your life.

And lastly, you need to look forward with a renewed determination.  Once you have identified what got you in to trouble and really resolved to not let it happen again, looking back any longer is pointless.  You can't change what you did and to constantly obsess over it is demoralizing. 

Just remember....you aren't the first one to fall off the Frugal Wagon.