What is one thing that makes you happy? Many people would say, “Money, of course!” But, what happens when that happiness starts to disappear? You may ask yourself, “Where did all of my money go?!” That question usually comes to mind once you realize that you’ve spent money on things you didn’t necessarily need, but really wanted.
It’s very easy to spend more than we should on things we want but don’t need. We don’t think about the effects of erratic spending at the time of purchase, but once guilt sets in, we quickly realize the error of our ways. Looking at my spending habits, I’ve concluded my biggest non-essential money drainers are:
- Eating out/grocery shopping (e.g.,fast food, restaurants, impulse buying, snacks, and buying brand name groceries).
- Technology/electronics (e.g., signing up for expensive cell phone plans; paying overage charges; purchasing music for iPods; and purchasing various forms of technological entertainment).
- Shopping (e.g., making impulse purchases and buying expensive name brand clothing).
- Hair/hair care products (e.g., regular trips to the hair salon or purchasing expensive hair care products).
- Gifts (e.g., spending more money than I should spend on gifts for family and friends).
In spite of my bad spending habits, I’m trying to change my ways and have found a few easy ways to save money each month:
- Eating out/grocery shopping — Reduce the frequency of eating out by limiting yourself to once a week or twice a month. Also, look for coupons from your favorite restaurants or manufacturers to get a discount.
- Technology/electronics — Consider purchasing refurbished items instead of new ones. Also, research cable, telephone and/or Internet service plans to find one that fits your actual needs. Eliminate extras on your cell phone plan.
- Shopping — Look for sales and bargains; shop at thrift stores, flea markets, and garage sales. Carry less cash to eliminate impulse buying.
- Hair/hair care products — Try making your own products instead of buying them. Style or cut your own hair, or have someone that you know do it for free. The goal is to cut back on salon visits.
- Gifts — Instead of buying, make one; many people appreciate a thoughtful homemade gift.
What other things would you consider to be money drainers? What are some things you’ve done to save money? AC: 1111-5260
Leave a comment: