I started the Piggybank Budget Blog some years ago at a time when everything was going pretty well for me financially. On an average single income I was supporting a large family and making great progress paying off the home loan. There are lots of budgeting blogs around that have been started by people in such situations. You have to consider yourself to be pretty good at managing money or you would be unlikely to start a blog about saving money and budgeting.
My goal is to give an honest account about how I make financial decisions in challenging times on my road back to a strong financial position. I hope that this will give people in similar situations a useful perspective that differs from budget articles and blogs written by people who are already doing well.
From the outset, I want to say the decisions I make are not always driven purely by what is best financially. There are some strong stereotypes about people that keep a careful budget as being pretty boring, tight and so on. I want to be happy. I want to enjoy time with my children before they grow up. I want to have a rich social life, engage in memorable experiences and make progress in my favourite hobbies. For me, budgeting is all about making informed trade-offs – knowing the opportunity cost of making one decision over another. While I re-establish myself, as long as my financial situation is generally improving in the short term I will be happy. In the long term however, my goal will be to get to a point where I am able to start investing for the future.
If perchance others are able to draw something useful from my experiences, including my mistakes, that will be be fantastic!