How the pandemic blew my family budget

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The pandemic made me do it: I've been reckless with our family finances

Spending on big splurges to improve our quality of life during lockdown is one way to deal with chronic stress.I recently downloaded a budget tracking app on my phone, but it didn’t take long before I was internally screaming and tossing the phone across the room. My daughter was sittingdigging into a carton of eight dollar strawberries, while my new puppy nibbled on my toes, and my husband worked on yet another DIY project using expensive wood purchased at the nearby hardware store.

By July we were purchasing our second home, only nine months after buying the first one. This time our kids would have a spacious yard, my husband would have a woodworking room in the basement, and I’d have the kitchen of my dreams. We bought a puppy only weeks after moving in, a $2,500 8-week-old rescue mutt—because even some rescues are cashing in onThe pandemic has loosened my expectations around money.

I doubt I’m the only person in the world that has been overspending during the pandemic. Being a little rash with finances is a common symptom of chronic stress. McCance says that letting go of the purse strings is okay, as long as it’s manageable, and not going to contribute to more stress in the future. “Your spending could be a problem if you find that you are impulsively spending, if you are hiding how much you are spending from people, and are in denial about the amount of debt you are in,” she warns.

 

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