Join our participants as they reduce debt and increase savings with the help of Summit financial coaches.
Betsy and Noah's Journey:
a new normal
Today was a win! Hopefully I will remember to get to that here shortly. Betsy and I have been working for a long time to change our family traditions around Christmas dating back well before Project Money. We want our children to be happy and for many years, it seemed like having lots of presents was a necessity. It never took long to see the Christmas present burnout. “Must-have” toys frequently got abandoned one month later. Sports equipment could be seen sitting in the garage after a short attempt at learning a new skill.
This year, we knew our budget would be different than in years past, primarily because this year we actually created a budget. Limiting gifts does not mean spending no money, we just need to be prepared ahead of time and really focus on what will bring joy to our family. We thought about things we could all do together; things that will keep us active and busy during the indoor winter months. We settled on one big family gift and got season passes to ski and snowboard at Tyrol Basin. It was an expensive gift so we budgeted and saved for it and shared the cost with my parents. Skiing and snowboarding are something everyone in our family loves to do and meets the goals we are working towards.
With yesterday’s fresh snow and December almost halfway gone, we decided to take the kids out and give them their present early. It hasn’t been a normal year and it seemed silly to waste time on the hill now just to have a present to open on Christmas morning. The kids were happy to have something to do and were grateful for the gift but the real win came on the drive home. The kids seemed more relaxed (and had all day) than usual. When I inquired about it, they said it was because they didn’t feel any pressure to have fun. They know we will be able to go back when we want to, not just on Tuesday when tickets are half price. They are excited because they can make plans with friends who ski or snowboard too.
In the five or six months since we started Project Money, this is a shining example of what we wanted to accomplish. We have removed the chaos from our financial life. It seems strange to me that I have given so much time, energy, stress, and anxiety to money for things that are not important to me. I will continue to give those things, but with purpose and goals rather than empty spending. Budgeting for the win.