Everyday Money

I really dislike the term budgeting - it implies a restrictive regime - somewhat like dieting and ends up being something else we fail at and can feel guilty about.

Current psychobabble talks about living consciously; I am advocating spending consciously. I have written before about the "black hole," the area where we can't identify our spending. Get a torch and peer into your black hole - are you buying takeaways too frequently - say $50 a week? Cut back to $25 - you can still enjoy the treat, have the experience but reduce the expenditure.

Secondly assess after a month or so whether you are satisfied with your $25 a week.

Then tackle your next challenge, can you for example reduce your petrol consumption, walk to some places, enjoy the outdoors and save some money.

Finally continue to spend consciously - make it a habit!