Have you ever wanted something so bad that you do anything to get it? There is a fine line between goals and being taken advantage of by your wants. Wants are sometimes hard to control. I recently read,
“One in 10 Americans making $80,000 or more a year are willing to take on more than $5,000 in debt in an attempt to portray their life as luxurious, according to the report, which surveyed over 1,100 adults online in the U.S. in February”.
In society, we have access to products are out finger tips. I can get online right now and purchase a multiple product from Amazon and it can be at my door step within 2 days. Advertisements and products are always around us making an environment that is not conducive to saving money.
On top of all of this we also have the issue of coveting items. That man is driving a super nice car. I wish I had one of those. I just read a blog which talked about people that have a mid-life crisis and use a large amount of their savings to buy and expensive car. Why would you want to spend your hard earned retirement money half way through your life?
I have to put myself in check which I am shopping, do I really need this or is this something that I want. We would ask this questions for every purchase and make sure you are keeping yourself in check.
I also read another blog that had some great insight on to control spending. Some of the subjects are the following and of which I felt are the important and why.
- Take only the cash you need.
If you limit yourself the amount of money you will use in a day it can hugely decrease your spending habits. It is really about having a plan before you go shopping or going on vacation. For example, I took my family to Disneyland this last year and we made the decision that we would only really spend money on one meal a day. We purchase snacks and sandwich making and packing into the park with us. It also helped because kids always get hunger and all the time. They are like little eating machine that get cranky if they do not have food in their system. This decision saved us hundreds of dollars on the trip and we had a blast getting on a few extra rides instead of sitting down to eat.
- Leave and come back.
Don’t buy something immediately. Half the time after you think about the purchase for a little longer it does not make as much sense to have it. It gives you time to realize if it is a need or a want and then you can really make an educated decision.
- Shop with a list.
Always take a list to the store. It is much like a project. You have a plan and anything adding to that list is scope creep. Stop the scope creep in your life and it will make your life a lot easier and prepare you for a better future. I have a real problem with this. My wife does not like to send me to the store because I always come back with something we did not need.
This is just a few of the heavy areas that hit home with me. Good luck in your spending and continue to prepare for your financial future. What tips do you have to control your spending between needs and wants? Thanks for reading my blog.