TAXES AND THEIR SILVER LINING
Now that we have our financial papers at hand for our taxes, there is an excellent opportunity to review our
spending habits and see how we feel about them. This is the silver lining of preparing our taxes,
it is an opportunity for all of us to explore whether or not our behavior matches our values and goals.
~Look at your income, you can organize this by paycheck or month.
~List all of your fixed expenses, rent, mortgage, electricity, ongoing loan payments such as your car/truck/student loan.
Subtract the total from your income.
~Look at how much you spend on the variable expenses: groceries, clothing, entertainment, eating out, gifts, vacations, etc.
~Think about each category:
-Begin a dialogue with yourself about whether or not you are comfortable with the amount you spend in each category.
-Ask yourself if you should spend more or less in some categories and why.
-If you are in a relationship discuss with your partner whether they are comfortable with the amount you two spend in each category.
-Discuss with your partner if you as a team should spend more or less in some categories and why.
~Adjust your spending behavior and most importantly track your feelings as you do so.
You will likely benefit from adjusting these numbers each pay period until your spending matches your values and goals.