Not so boring budgeting
As part of a 4-month bespoke course, I decided that budgeting was something that definitely needed to be included. Through our 1-2-1 sessions 90% of the young people mentioned they are either bad at managing their money or would like some extra assistance. Most people were happy to come in and get started, but Tom, 23, needed a bit more convincing:
Tom: “I don’t want to do budgeting, I’ve done it so many times man, I don’t get it, it’s boring”
Scarlet: “have you ever done budgeting with me though?… ok then, in you come and let me know how you feel afterwards”
The session was compiled of a step-by-step guide to understanding our relationship and the uses of money before we even looked at the budgeting aspect.
Key works were used, broken down, explained.
Worksheets were completed as a group, in pairs, as individuals and from discussions we’ve had.
When the session ended 2 hours later, Tom asked if he could stay behind.
We then went through his personal budget as he didn’t want to do it in front of everyone. We pointed out that his outgoings were exceeding his income and he already had two debts to pay off. I explained how easy it is to get into debt in a situation like his, where he spends more than he earns. He agreed.
We then looked at his expenses one by one and questioned if he could reduce them in any way. We found a few items that he could live without or cut back on and we made a note of the savings.
Tom: ” I didn’t realise that I spent that much, yeah I need to cut back on a lot of things”
Scarlet: “Budgeting’s not so bad after all eh (with smug face intact) “
Tom: “Whatever (laughs)… thanks miss”