Why You Keep Overspending Even When You Make Good Money in 2026 | 505

0:00Guys, we are so excited to talk to you today about what's happening next week. I know. We have our Money Makeover Bootcamp. Yes. It's the first time we're doing something like this. We've seen a lot of people have success with it because it's different than just the podcast where we'll be able to go back and forth and we'll be able to interact with you and really get into some deeper stuff with you. And we're really excited. Vanessa, how much do you think people just spend on Christmas? Probably a lot. A little bit. Just a little bit of a lot. or how many people do you think overspent all okay where's the it's like it's like 50 25 all of the above like all of you overspent probably but you know what actually maybe you didn't but it's okay that's okay whatever maybe you're really good i haven't meant that unicorn but they probably are exist vanessa and i even wonder like okay i have so many questions that i need stats for right how many people made a budget this year for christmas and you know we are trying to help people do that.

1:00We're so excited to talk to you about today about that. Do you make good money but have nothing to show for it? Are you tired of living paycheck to paycheck? Do you have big dreams for your financial future? Do you want to get debt free, but you don't want to live on beans and rice? Or you don't want to give up those pumpkin spice lattes? Hey, it's okay if you don't already know how to budget or if you're using credit cards to get through the month. Hey, it's okay if you want to seem like you have your finances all together or you're not on the same page with your spouse when it comes to finances.

1:29We know what you're doing probably isn't working, but guess what? You're in the right place. We're Shana and Vanessa. We're best friends, business partners, and master financial coaches trained by Dave Ramsey. We've been in business since 2019, helping hundreds of amazing people like you create budgets, get out of debt, stop living paycheck to paycheck, and know exactly what to do with their money. In this podcast, we'll share with you everything we know, plus everything we're working on with our clients so that you have the best chance at reaching your financial goals. We want to help you take the guesswork out of your budget, improve your marriages, and even bring your kids in on the conversation.

2:04We can help you no matter where you're at, whether you're the single mom who's never had$500 in her savings account or the millionaire who's paid off four real estate mortgages. And we're not going to shy away from the tough love. We'll tell you what you need to hear and encourage you at the same time. This is the Financial Coaching for Women podcast. It's the norm of being able to pay cash and be prepared for Yeah. Yeah. I think the norm is overspending. But Vanessa, the other thing is like, it's not the way that people think, you know, people come to us, they're so stressed out. They're so full of shame and I'm so bad with money and I don't know how to do math or whatever they say.

2:39And we actually believe you guys, we actually believe that you don't really have a spending problem. What you actually have is an organization problem. Yeah, absolutely. And I think that that aha moment of needing to be organized to help you not overspend really helps people figure out it's not me. You know what I mean? Like this isn't like an emotional thing or it's not me. It can be fixed and I can move past this and I can get better. Yeah. And it's not like I have to do this by having a no spend month. Hello. No, thank you. No, we don't love that. We don't love that for you. We had a podcast on a no spend month.

3:17You should go. Yeah. Don't do no spend months. That was our podcast. You're welcome. Spoiler alert, TLDR. But actually what we know is if your money is organized, it changes how the guesswork, the stress, all of this stuff about spending to where you naturally will spend less. So today we're telling you that you don't really have an overspending problem. You have a disorganization problem. The solution is to have separate spending accounts, Vanessa. Yeah. And I think that that may be one of the first times people hear that. Like, listen, we're saying that you're disorganized with your money. That's why you're overspending.

3:49But imagine being organized with your money. And what does that mean? That means having separate or more than one account to be able to do that. Yeah, and knowing – so part of the confusion is you don't actually know how – if you have money to spend, how much you have to spend. So you kind of spend. Maybe you don't. And so that's part of the problem. But the other problem I think that people really have is they get this rebellious spirit, Vanessa, because they feel like they never really have money. And so then they're just like, well, I'm going to drain everything in this bank account and future you, you can figure that out, right?

4:19Or they put it on a credit card or whatever and it's still a future you problem because they're just so – they're so over like feeling like they never know or having to make all these like math problem decisions in the moment to see if I can even actually go to Target. Like what we want for you is for you to know exactly how much money you have to go to Target and to know that you do have money to go to Target and it can be anywhere. It doesn't have to be Target. Whatever Hobby Lobby. Anybody? Any takers? Any takers for Hobby Lobby? Definitely I'll be there. We'll be there together. But here's the other part too.

4:46too, Shana, is while you were talking, I was thinking about me personally and one of our clients, Michelle, knowing that you have money and it's there and you're, and cause listen, I'm a rebel. Like I'm going to tell you right now, you tell me, no, I'm going to show you how it's going to be a yes. You tell me that wall is permission accepted. Yes. I am very much a rebel. So I'm for this, but for me, I think having my separate spending money for whatever that is and knowing that it's always getting replenished and it's not just now or never, right? Spend it now because you're never going to see it again.

5:19There's something about that that's so freeing and it doesn't, I don't know, I just, I don't become as rebellious. Yeah. I think you're absolutely right. We've seen it over and over and over with our clients. It's taking your, you, you no longer can have that rebellious spirit because there, there's nothing to fight. You're getting money, every paycheck friend, like it's all, you're, you're good. Like, and like you said, It's not, I have money now and never again. It's not, I don't know how much money. It's like, Hey, every, I just got off a call with, with a client. They put 50 bucks in their spending account each week, every each, both of them.

5:49Right. Or maybe you do more, maybe you do less. It's really depending on your budget, what you want, but you have money every single time and it's coming. It's refunded. It's going, coming every time you can save it. You can spend it, whatever you need to do, whatever you feel like it. I think that is really freeing to your point. But what I think also that is really cool is we put your spending in categories, right? So right now we're really talking about personal spending because that tends to be where you maybe overspend. But what we do is instead of having to like have this big or awful budget where I'm trying to figure out, did I pay the rent?

6:21Okay, I can't go to Target. Do we have groceries? Okay, now I can go to Hobby Lobby or whatever you're doing. You have one account that has your spending budget in it. And that's the only math you have to do if you want to go to those stores or you want to go get your hair done or you want to go get a coffee or whatever. You have your one little spending account. It's like a mini budget, Vanessa. It's like mini, mini decision. And it allows you to just spend guilt-free, right? So you know that you have money to take a girlfriend out for lunch, to get a pedicure, to take your daughter to a date night or whatever.

6:48However you want to spend your personal money, that gives you the freedom to do that. Having a separate account or using cash, however you want to do it, it just allows to have that freedom. All right, budget besties, it's time for some real talk. You don't need another budget. You need a budget system. Our simplified budget system is what you've been looking for. It's going to allow you to be bougie on a budget. You'll be able to easily set up a system that runs automatically and shows you exactly where your money is going. And it's going to give you permission to spend. Everybody loves that.

7:20Yeah. It's straightforward, pretty, and packed with walkthrough videos that break down the exact methods we use with our clients to get out of debt, set up a bills account, separate spending, build savings buckets, and end the paycheck-to-paycheck feel. If you're new to budgeting, this is the perfect way to jump in. And if you're already a budget nerd like us, you're about to meet your new obsession. This is the upgrade to your finances that you need right now. Yeah. So head on over to budgetbesties.com forward slash budget and grab yours. Now back to today's show. One of our clients, Michelle, she came on the podcast and did a testimonial.

7:56And she said, knowing that it was getting replenished every Thursday, she said, did something to my brain. I literally, I knew that it was coming. So naturally, I spent less. Naturally, I was not out there just blowing money here and there. And it just gave her a sense of control over her spending. And I feel like that sense of control is so important. The lack of having to make a million decisions also. So these two things already are going to contribute to you spending less without you doing anything else. But then also you don't have to track anything. Hello. Hello. Sign me up. Because it's all by itself.

8:27It's in its own account. Like you said, mini budget. So some other budgets have you track or turn in receipts like that one husband had told us or wife had told us about her husband. You don't have to do that here because it's in one account. And what are you going to track? You can just go look in your bank account and say, oh, I spent all my money at Target. Done. Or, oh, I remember. Oh, now I remember what I spent my money on. And we went to launch that one day. And the next day, I went and got new shoes. And it was a wonderful day. And I had it. It was great. It's great. And then you have to track.

8:51It's all there in the one account. And it's only like 10 transactions. It's not. There's not a lot. So you don't need to keep a record of it. It's right there. One of the first things that I tell my clients, like, hey, when we put money in the spending columns, Jane, of the budget, especially for new clients. I'm like, Hey, you got$3 ,000 this month for all your spending categories. Have a good time. And they're like, but, but what, don't I need to tell you how much I spent on groceries and how much I spent here and how much I spent there? I'm like, no, I don't care if it's out of the bills account and in your spending categories, I don't care.

9:19And neither should you. Like, why does it matter? Why do you need to know that this month you spent$159 in groceries or this week versus 161 last week? Like, Why do you need to know that? That is not important. Recently, we were talking about the magic of multiple bank accounts, Vanessa. And I'm just like, I want you to imagine right now, if you pull up your bank app, right? And you're looking at your bank accounts and it says gas and groceries,$500. Restaurants,$200. Shana's fund spending money,$200. $100? How much money are you going to give me? I don't know. And then it also has one for my kids because that's important, y 'all.

9:50That's important because they will steal every single dollar that you ever had if you don't have a separate line item for them. It says kids,$75, right? And so I have my bank accounts. I can see how much everything I have. And I can get through that. I can make micro decisions. I know I have money for all the things that are important. And like Vanessa said, I can just go live my life and spend the money. And then it'll get replenished in a week or two or whenever I do my transfers. And I'm good. That's all I have to do. Yeah. And I think that that is hard for people to grasp because for so long, Shana, there's this tracking culture, right?

10:19You have budget apps and you have this and that that require you to go track everything. Wait, wait. Mic drop. It beeps at you. But mic drop. tracking culture. Like that's a, that's a mic drop right there. We are in that tracking culture. They want you to be busy. They want you to do stuff that doesn't matter. None of that matters if you're doing it our way and you don't have to waste your, your, your brain calories on that. But anyway, keep going. Yeah. But just that. And then the, remember the bank app, that girl that she said her bank app was like beeping at her and it was like flashing red and like danger signs or whatever.

10:50Like nobody needs that. I'm not, I'm not a crime scene. Don't cross. Right. I'm going to, Right. I am an adult and I don't need my app yelling at me if I went$1 over this thing, but also you're not going to and you use it like the way that our system works, right? So it's just your budget needs to match your real life. Your spending needs to match your real life. And when you do that, you naturally spend less. You're naturally more free and have the permission to spend. What's also cool about this whole system, Vanessa, is it gives you guardrail. So when we're talking about freedom to spend, permission to spend, we are for you.

11:23We are, we are for the trip with your girlfriend. We're for the daughter date. We're for whatever. However, you do have other adult goals going on in life, right? You do have things that you want your money to do. And this allows you to, you, not us, Vanessa, we're not telling you what to do. No one's telling you what to do. So you, again, you can't rebel because nobody's telling you what to do. You're telling you what to do, right? Nobody's telling you, but you get to set amounts, right? And so you just have these, these guardrails and they're in place to help you instead of spending a thousand dollars this month, I'm going to spend 400, right?

11:54Whatever it is you decide. And it's, it's helping you reach your other goals at the same time that you're being able to have that freedom and permission to spend. Well, when we did that podcast with that one lady, I don't remember her name, but you know, she said it beautifully. She said, we as adults want guardrails. We, we want them. If you ask any wealthy person, we do like them. When you ask any wealthy person out there how they became wealthy. The answer is not going to be, oh, just happened. It was on an exit. I'm not really sure. No, they set some type of comfortable guardrails in place for themselves so that way they can spend freely within a certain amount, but also know that everything else was happening in their budget.

12:30And that is the concept that we want for you to build. Right. And what she said, Vanessa, is when you're driving along the highway, you don't see a guardrail there and you're like, oh, that stupid guardrail. I hate you. No, you're like, I'm so happy you're there just in case. Thank you. Just in case. And that's what these spending categories and these little mini budgets in your account is for. It's there just in case. We're not saying you're going to get in an accident at Hobby Lobby where you hit everything on the way out and it just gets in your cart, right? We're not saying that's going to happen, but just in case.

12:56I mean, that could happen to me though. That could happen to me. That's possible. But what we are, what we do know is that when you get to the register, Vanessa, it's going to say, uh-uh, no, sorry, honey, you only had$200 and we're not doing this$500 thing that you just said. Right. And it just gives you guardrails. And even just knowing Vanessa, just knowing that what, that I know I don't have that much in my account, it helps me to make better choices before I get to the checkout. Right. Um, and so, yeah, when you were talking about the being on the road and not having a guardrail there, like on a turn and it's like, Jesus take the wheel.

13:27Yeah. Right. So when we're, we're talking about that with our, with our finances, we're not closing our eyes, swiping the card and say, Jesus take the wheel here. No, we need to have some type of responsibility and, but also set a certain amount of money that you are comfortable with. Because I think, Shana, we see that a lot. People will put numbers in their budget that they realistically can't hit. They're realistically not going to achieve. Either they're too much or too little. And so then you feel like a failure. You feel like budgets aren't for you. You can't do this. And that's not what we want for you.

13:54We want you to set a good budget, something that you're excited about. So that way it keeps you within a certain amount. Yeah. And to your point, Vanessa, this is a way that some people heal from having some of this money baggage that we've talked about before. Maybe you're not used to having money. Maybe you don't feel like you deserve it because you racked up some credit card debt or maybe, but either way, you have to get used to having money and you have to get used to spending money, spending money within guardrails like we're talking about, but also just being okay spending money and being okay having money in your account.

14:23Like this is the new version of you who doesn't overspend. You don't binge spend because you're stressed out. You're like, I'm actually not stressed. My money, my budget is like working like clockwork. I feel like a million bucks. I'm not stressed. I don't need to binge spend. All that's going to be you. Yes. And to help you further, we have a bootcamp coming up. So go to budgetbesties.com forward slash bootcamp. Shayna, if you want to explain a little bit more about it. Yeah, it's just five days with us live. We're going to go through everything a little bit more in detail that we teach that you need to really just give your money a makeover between simplifying your budget, have a very simple, easy budget to separating your accounts.

14:59We kind of talked about that a little bit and even putting your whole budget on autopilot. Mm-hmm. God, can you imagine autopilot? Do you remember how you were before autopilot, Shana? I don't even know if I want to know the old me. No. It's like the old me before I had backup cameras. No. Don't. Yeah. Oh, no. Vanessa could not park before backup cameras. She's a really good parker now. So anyway, the point is, yes, you need to use modern tools, and that's what we're going to teach you in the bootcamp. So come to budgetbesties.com forward slash bootcamp to sign up there. Hello, Budget Besties.

15:30This is the podcast editor, Zach. Due to illness, the Budget Besties are postponing the bootcamp until next week. We would love if you would come and join us then instead of this week. Prayers would be appreciated. Thank you. Editor out. If you're tired of feeling like your finances are all over the place and you're ready for a simple set it and forget it way to budget, we have something special for you. Watch our Automate Your Budget Masterclass at budgetbesties.com forward slash automate. We'll show you step-by-step how to finally organize your money, how to set up your accounts, and put your budget on autopilot so your bills, saving, and spending run like clockwork.

16:11Imagine less stress, more savings, and the freedom to spend money without having to track every dollar or babysit your bank account. Go to budgetbesties.com forward slash automate to start today.