How are you spending your money?

Dear Readers,

That’s a pretty personal question, so you can keep the answer to yourself.

Last week I told you about the no-spendtember challenge I signed up for which limits the amount of spending you are allowed to do for the month. The rules are you can spend money on gas, groceries, rent/mortgage and that is it. It’s restrictive on purpose!

It has really made me STOP and think about the things I spend money on that I could save instead. I am saving to go to the Elton John concert and have taken to using the hashtag – HelloYellowBrickRoad to remind me of my goal. It’s not easy but that concert is soooooooooooooooooooooooooo going to be worth it!

SIrElton

Because I am paying attention to what I am spending my money on or rather not spending my money on, I have stumbled on a few relevant memes and articles. I posted this picture on social media and got some very interesting responses – and by interesting, I mean some disagreement.

Average

Some of the people on my wall took a moment and were surprised by the number and stopped to question it, which is totally fine by me. That was the point.

So a few things here. I don’t know this to be true, I do know that lots of people spend money indiscriminately and don’t think about what they are doing and then they wind up in heavy credit card debt or with too much month at the end of their money and don’t know why.  Here is a news article that gives a bit more shape to this-

https://nypost.com/2017/12/08/americans-spend-an-absurd-amount-on-takeout/

This is not true for everyone, and the picture is not aimed to make you mad, it’s there to make you think.

Some sample thoughts I am seeking…

  1. Huh, I wonder if that is true? (let me go do some research)
  2. That is a lot of money – I wonder if I/we/our family spends that much? (consults bank account online)
  3. Well, we spend a little but I don’t think it’s that much (consults bank account online)
  4. That makes me think about our travel budget. I wonder if I can really get a ticket for 750.00 anywhere in the world. (this seems like a stretch and in my research (Austin to Austria- was 1300.00 so the number is not 100% accurate, but my goal is to get you to think about it.

To be clear, I am not trying to tell you that if you spend this much on everyday food and drink it’s wrong, it’s just what you are doing. The point would be to get you to choose what you are doing instead of mindlessly doing what you do every day/week/month/year with money.

Anyone who knows me, knows I am passionate about finances. To be more explicit, being intentional with our money has allowed us to have my husband stay home with our daughter which definitely involves some sacrifice. Then we chose to put her in day care 2 days a week and he went back to work because that is what we chose to do.

HastonsEaster2017

Maybe people think it’s wrong to ask others to sacrifice to save money,  but I don’t agree with that because sacrifice is an important part of reaching a goal.

If you want to lose weight, you sacrifice by eating less, right?

If you want to save money, you probably eat out less, right?

If you want to go to school and get good grades, you sacrifice time with friends to study, right?

I am not telling people how to live and what to spend their money on so please let me be clear.

If you love food and want to spend your money on restaurants and eating out, go for it.

If you love concerts and books and want to spend you money on it, go for it.  (see above)

It’s your life, and you are welcome to do what you like with your resources.

My goal today, as with each and every post is to get you to THINK about it.

so… am I saying – don’t spend that 5.00 on a drink at your favourite coffee spot, no, I am saying think about it and do it consciously, and you might discover you don’t really want to spend that 5.00 on the coffee but rather save it for a rainy day or if you are me, to say goodbye to that yellow brick road….

Think About It.

 

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