There are many things that can blow your budget. But, over the years my hubby and I have noticed a few trends in our own spending habits, and some things we have done to make them better. So, this week I am going to focus on those.
Top 5 Budget Busters
1. Eating Out – we all know that eating at home is considerably cheaper than eating out, especially if you have a larger family like we do. But, we all make excuses to why it is “necessary”.
2. Credit – we all know credit is a bad idea, but most of us have a need for instant gratification, and justify spending on credit with the “I’ll pay it off at the end of the month….”
3. Impulse Spending – you know those stops for the pop you need to make it through the day, or maybe it’s the coffee, or maybe you feel the need to celebrate with a little ice cream…
4. Lack of Organization – this one might surprise you, but seriously, we have noticed that as we are more organized we are saving money.
5. Keeping up With the Jones’ – we have all heard this expression, and this one kind of ties in with some of the others. We like to tell each other that we ‘need’ this or that. But, truly we just ‘want’ this or that, and a lot of times it’s because everyone else has this or that.
When emotions are tied to your spending habits, it is not a good thing.
Again, you may have other things that you struggle with, we all have our ‘things’, our stumbling blocks. For us, these are the hard ones. We will take this week to talk about each one of these in a little more detail with some practical ways to help you stay on budget.