At Galgal, we are all about experimenting things to see what works and what doesn’t. So here’s our attempt to do the same with this blog.
This blog is different from our usual ones. We got a few blogs written anonymously and vetted which one landed best and decided to publish it as it is in their own voice so lo and behold:
We all have a version of ourselves we’d rather not revisit- the one that makes questionable decisions like splurging on yet another phone upgrade, impulsively buying decor that’s more “eh” than memorable, or burning through half a month’s salary for a “much-needed” weekend getaway.
For me, overspending wasn’t just a habit, it was a way of life. But as they say, even the best rollercoasters have to come to a stop eventually.
My Spending Sins: A Mess of Food, Gadgets, and Bragging Rights
Before I got a handle on my finances, my spending could be summed up in one word: DIABOLICAL.
From indulging Zomato orders twice a day in the office to completely unnecessary electronics upgrades (read: new phone every year), I seemed to have an infinite list of “needs” that weren’t really ‘needs’ at all.
Travel was my kryptonite, I often booked last-minute flights on the fly (pun intended) without considering the kind of punch in the guts it comes with. And then there were the “show-off” purchases – quirky home decor and play day items that I only bought to compete with my brother (who was equally competitive and childish).
The result? A perpetually empty savings account and the sinking feeling of financial instability that loomed over me every waking hour. But, for a while, I convinced myself it was worth it. After all, I grew up with very little. For someone who couldn’t even dream of bare necessities as a child, spending on myself felt like (revenge) justice – a way to finally prioritize “me”.
The Turning Point: A Forced Pause
Ironically, it took a global lockdown for me to take control of my finances. COVID-19 shut the world down – shops, travel, e-commerce. Suddenly, there was NOWHERE to spend. And for the first time in years, I noticed something unusual in my bank account: savings. Real, tangible savings.
Sick, right? That’s what I thought! A few months into the pandemic, it felt amazing to see a six digit figure in my bank account for the first time in life. It had always been four digits before that. (Don’t hate me lol.)
With no way to spend, I started investing that pool of money. I remember calling up a close friend of mine who is an investment banker. I asked him about SIPs and he first laughed at me and then got mad because I chose to ignore buying direct stocks at such a pivotal point in the history of the Indian stock market.
He gave me some solid recommendations and that’s how I went knee-deep into finance content on the internet. I was bored of binge watching Netflix and Prime so I went down the rabbit hole on YouTube to learn everything a layman could learn about money – salary structures, budgets, taxation, personal finance, emergency funds, insurance, equities, debt, commodities, metals, global markets and what not. I was like a hungry fool just nerding out on numbers and charts for fun because the MCU movies kinda got dry and boring.
I rode the bull run and watching my portfolio grow gave me a kind of satisfaction I never experienced from impulsive purchases. It was the wake-up call I didn’t know I needed!
But I was hooked! This led me to optimise every single rupee under my name to ensure I am on the right track for my long-term wealth goals.
All of this came down to a single thing that could make or break my life goals: a budget.
The Emotional Barriers to Budgeting
Let’s be real: budgeting isn’t always fun. It felt tedious and limiting at first, especially because I had a habit of justifying every purchase with emotional reasoning. “I deserve this,” I’d say, “because I never had anything growing up.” But the truth is, no amount of spending could fill the void or truly satisfy my endless wants.
The hardest part was starting. Tracking expenses felt nit-picky, and I didn’t want to confront the harsh reality of my spending habits. But here’s the thing: avoiding the problem doesn’t make it go away. And if I have to course correct for meeting my future goals – bootstrapping my business, buying a car, a house, 1-2 international vacations a year and eventually settling down, I will have to be disciplined enough to make the most out of my salary and not let it go up in smoke.
What Changed: Tools and Mindset
The first step I took was to design a custom budgeting template in Excel. I flexed all my nerdy skills to automate it as much as I could and also made it visual & intuitive, with charts that broke down my expenses into neat categories.
Looking at the data made it IMPOSSIBLE to ignore where my money was going. And it was kind of a reality check, I must admit. Eventually, I graduated to an expense manager app as that was easier to use on the go.
Now, every time I spend, I log it immediately. Not at the end of the day, not when I get free. Immediately. It’s become second nature. And it barely takes 20 seconds, man.
With this new system, I’ve been able to identify the problem areas in my spending (Zomato is up there again and I am going to cut it down yet again ) and redirect that money toward my investments.
The Ripple Effect
The change has been monumental! Understanding my spending patterns hasn’t just improved my finances- it’s brought me peace of mind. I no longer feel like I’m trapped in a cycle of payday-to-payday living.
Instead, I’m consciously aligning my spending with my goals. Every small step feels like progress.
Takeaway: The Hard Truth About Budgeting
If there’s one thing I’ve learned, it’s that budgeting isn’t about depriving yourself. It’s about understanding yourself- your habits, your triggers, and your goals. It’s about taking control, so you can spend in a way that truly reflects your priorities.
Friend 1 enjoys travelling, so she spends most of her money on exploring new places.
Friend 2 loves cars, so he invests heavily in that passion.
Friend 3 is a tech geek and he splurges on the latest gadgets.
I learned the hard way that I cannot be “inspired” by all three of them at the same time, even though I love all three passions equally. I needed to focus on what MY priorities were instead of trying to chase three different lives.
If you’re like the old me, stuck in a cycle of overspending and guilt, here’s my advice: start small.
Track your expenses, even if it feels awkward at first. Use tools that work for you, and most importantly, be honest with yourself. Because trust me, the payoff is life-changing!
How Galgal Can Help
Budgeting doesn’t have to be a chore anymore, that’s what we at Galgal are moving mountains for to ensure our app delivers on the promise.
With Galgal, you get tools that make saving simple and spending intentional- like automated expense tracking, budgeting insights, and custom savings goals. No need for an elaborate Excel template or an Expense Manager app that depends on manual entries and doesn’t understand your true finances.
Think of it as your pocket-sized financial buddy, always nudging you to spend on what truly matters to you. Start small, start smart, and let Galgal make your money habits easy. Peace!