Today I’d like to talk about what restraint looks like.
As you know, we bought a house in October. This means we vacated our rental, and all that goes along with that, in late October. Then November blew in on a cinnamon scented breeze, and there was Thanksgiving, which became Black Friday and Cyber Monday, which barely gave me enough time to catch my breath before Christmas. Christmas jingled all the way until New Year’s, and then we were counting down until Valentine’s Day and here we are, just finishing off our 50% chocolates, with corn beef and shamrocks just around the corner. Time marches on. And it marches fast.
We got a letter in the mail a few days ago. It was from our old landlord. He apologized for the delay, but he had been ill over the holidays. He wished us well in our new home and said we were the best tenants he ever had. Very nice man. Oh, and he included a full refund for our deposit.
Here is what that felt like.
In the general hustle and bustle of life with two small kids, moving into a new house, and a dense calendar of holidays, we had somehow forgotten to check in around our deposit.
So here we have a rather large sum we in no way, shape, form accounted for on the budget. We do our yearly budget in September. Once upon a time, before the girls, I was a teacher and my brain still operates on the start of the “year” being September. Mr B jokes around that we do our budget on the “Hogwarts Calendar”-we start September 1st, same day you have to show up for Hogwarts Express. Ravenclaw4Life.
When we made our budget, we didn’t know we would be moving, so we didn’t plan for what to do when we got the deposit back. And yet, here we are. With all this deposit money.
A person with no restraint, a highly excitable blogger type, would say something like, “We’re done saving for Disney! We’re over budget! We’re doing a dessert party! We’re doing all the dessert parties!” But this chipper blogger, she would probably be married to a calm, sensible, Hufflepuff type of guy. He would most likely say something along the lines of. “This is a huge blessing. Let’s definitely put some towards the Disney trip, but most of it should go in savings. Maybe get a few things for the house we didn’t know we needed.”
And that, ladies and gentleman, is the picture of restraint.
As Mr B likes to say, “Just because you can, doesn’t mean you should.” When you’re saving towards a specific (and highly enjoyable) goal, it can be very easy to get tunnel vision. But this hypothetical handsome Hufflepuff is right. When you are fortunate enough to have a windfall, take stock of your family’s needs. Are there expenses that you hadn’t anticipated that you needed to use a credit card for? Maybe pay those off before imagining your four different dessert party tour. How is your emergency fund looking? Saving for Disney taught us that the best way to not break the bank for big, unknown expenses (think medical, or car trouble) is to have an emergency fund, separate from general savings. Speaking of general savings, throw some bones in there while you’re at it. Yes, it’s a relief to have your trip paid off. But it’s more of a relief to have your life in order. Hufflepuffs, man. They really are the unsung heroes.
With visions of dessert parties dancing in my head, I climb out of my pool of gold coins to practice restraint. Being smart with your money takes many different forms. It’s not just about know when and how to spend, it’s knowing when not to spend as well.
Total Goal: $3500
Last Week: $783.95
Total Deposit: $333.57
$300, from rental deposit refund
$33.57, lefter grocery budget
Still Need: $450.38
I’m not going to lie, even without blowing all the dollars in one spot, that puts a sizable dent in our goal. How is your fund coming along? Ever had a huge chunk of money fall from the sky? Let me hear it in the comments!
Kristen B. is wife to the best Prince around, mama to the spunkiest little princesses, and lover of all things Disney. She started her savings journey three years ago and is now dedicated to making her family’s wishes come true one coupon at a time. She is so excited to take her love of saving to the next level and share her journey with you! Click here to catch up on Kristen’s Savings and join in on your own savings adventure!