There are several close friends who I regularly dialogue with who engage in a “personal expense” discussion. By this, I mean we lay out where we spend money and wonder where our respective paychecks go. It’s not a fun interchange.
Invariably, that’s because we start writing down dollar figures and see that we spend more than we earn. When you look at the number of newspaper articles that tell you how much of a loser you are when you do that, you quickly feel you fit that bill.
Why can’t we save more? Why can’t we spend less?
Once your spending habits are ingrained, it’s hard to break them. You go out to eat, so you keep going out to eat. You play golf once a week, you want to keep playing golf once a week.
Even when you look at your family spread sheet and say to yourself, “Hmmm, golf is costing $200 a month. Yikes, that’s $2,400 a year. Better cut that out.”
Buddies call who I haven’t seen for six months, and they want to play the following weekend, so after checking with my wife to see how our calendar looks and to get the family “okay,” off I go again --spending when I should be saving. Even if it’s a great round and spectacular weather, I feel guilty for the indulgence. And the family budget takes a quick dent.
You can write your income and expenses down until the icebergs melt, but it’s not going to stop you from playing outside the lines when it comes to your money. Deficit spending abounds.
One friend wrote this recent “unexpected cost” spreadsheet down: Springs on garage door broke, $400; new door handle for front door, $125; anniversary dinner out, $150; spring fertilizing of yard, $35; new BBQ grill, $150; liquor bill for month, $150; Turbo Tax Premier software, $75. Clearly, some of those expenses are not mandatory and could be cut or contained, but still…..
During a conversation with a former work colleague, she was lamenting the price of food, car repairs, medical care and insurance rising disproportionately compared to salaries. That disparity is something many of us face, and it’s fueling much of the frustration people feel in just trying to get by in their day-to-day lives.
Another friend brought up how he has established a budget for how much he and his wife can spend monthly when going out to eat. In the first three months of this year, they were $200, $400 and $100 over on a monthly basis. Only going over by $100 seemed like a moral victory.
We are gluttons. Some things are controllable. Others are not. Even when we move forward with the best of intentions, our over-consumptive behavior takes over, sending us into the deficit death spiral.
I wonder how many people keep their monthly budgets. It would be a fascinating survey to administer to Americans and see who has a moral budget backbone.
Perhaps everyone needs to set aside an “indulgence” fund annually, to use in whatever fun way you want. That might make us feel better if you aren’t hitting your monthly dollar containment figures.
Even pets come into the “unexpected expenses” category when one dies or needs surgery to survive. You don’t save money for that, but suddenly you are faced with an expensive emotional decision, and our emotions typically win.
I can’t stop the emotional side of indulgence. But I’ve decided there is one way to save money, and I’m sticking to this one.
For the rest of my life, I’m not buying any underwear or socks. That should cover a couple of beers and cheeseburgers.
Invariably, that’s because we start writing down dollar figures and see that we spend more than we earn. When you look at the number of newspaper articles that tell you how much of a loser you are when you do that, you quickly feel you fit that bill.
Why can’t we save more? Why can’t we spend less?
Once your spending habits are ingrained, it’s hard to break them. You go out to eat, so you keep going out to eat. You play golf once a week, you want to keep playing golf once a week.
Even when you look at your family spread sheet and say to yourself, “Hmmm, golf is costing $200 a month. Yikes, that’s $2,400 a year. Better cut that out.”
Buddies call who I haven’t seen for six months, and they want to play the following weekend, so after checking with my wife to see how our calendar looks and to get the family “okay,” off I go again --spending when I should be saving. Even if it’s a great round and spectacular weather, I feel guilty for the indulgence. And the family budget takes a quick dent.
You can write your income and expenses down until the icebergs melt, but it’s not going to stop you from playing outside the lines when it comes to your money. Deficit spending abounds.
One friend wrote this recent “unexpected cost” spreadsheet down: Springs on garage door broke, $400; new door handle for front door, $125; anniversary dinner out, $150; spring fertilizing of yard, $35; new BBQ grill, $150; liquor bill for month, $150; Turbo Tax Premier software, $75. Clearly, some of those expenses are not mandatory and could be cut or contained, but still…..
During a conversation with a former work colleague, she was lamenting the price of food, car repairs, medical care and insurance rising disproportionately compared to salaries. That disparity is something many of us face, and it’s fueling much of the frustration people feel in just trying to get by in their day-to-day lives.
Another friend brought up how he has established a budget for how much he and his wife can spend monthly when going out to eat. In the first three months of this year, they were $200, $400 and $100 over on a monthly basis. Only going over by $100 seemed like a moral victory.
We are gluttons. Some things are controllable. Others are not. Even when we move forward with the best of intentions, our over-consumptive behavior takes over, sending us into the deficit death spiral.
I wonder how many people keep their monthly budgets. It would be a fascinating survey to administer to Americans and see who has a moral budget backbone.
Perhaps everyone needs to set aside an “indulgence” fund annually, to use in whatever fun way you want. That might make us feel better if you aren’t hitting your monthly dollar containment figures.
Even pets come into the “unexpected expenses” category when one dies or needs surgery to survive. You don’t save money for that, but suddenly you are faced with an expensive emotional decision, and our emotions typically win.
I can’t stop the emotional side of indulgence. But I’ve decided there is one way to save money, and I’m sticking to this one.
For the rest of my life, I’m not buying any underwear or socks. That should cover a couple of beers and cheeseburgers.