Tag Archives: Spending Habits

Emotional Spending

Why does spending money makes us feel better? For many, going shopping is a type of cure for the blues. Just like using food as a stress reliever can wreck havoc on our diets, using money to cure depression can destroy your budget. When the kids are whining at the store, do you promise them a new toy if they calm down? This is the beginning of teaching pleasure in spending. Stop it with yourself and your entire family. One of the fastest tips to cure the emotional spending bug is to not carry your cash or money with you, … Continue reading →

Money Week in Review: September 3-September 8

Money is one of the leading cause of marital problems. In Working on Your Finances with Your Spouse, Miriam offers some tips on making it an easier process. She also gives suggestions on what to do if your spouse does not want to get involved in the process. Do Your Lifestyle Choices Affect Your Budget? takes a look at the health choices you are making and whether or not they affect your pocketbook. It is important to realize that our decisions usually affect all areas of our lives, not just one. Debbie offers some great advice on teaching your children … Continue reading →

Finacial Pitfalls: The Miscellaneous Category

One area that many people have a difficult time with is the miscellaneous category. This is a category where you tend to put in unexpected expenses. It can be difficult because you may be putting things in this category that do not really belong there. There are several expenses that you should not be putting into the miscellaneous category. Eating out is a common expense that is not planned for and then shuffled into the miscellaneous category. Other entertainment expenses, such as movie tickets, also get put into the miscellaneous category. These optional expenses should be planned for with a … Continue reading →

Spending Too Much?

If we are completely honest with ourselves, most of us have moments when we are spending money that we know we should not be spending. It may be splurging on a new book or splurging on a new wide screen television. Whatever the splurge, it could be undermining your financial goals. So how do you stop spending when you already know you shouldn’t, but you do it anyway? 1) It is important to understand why you are spending the money. Do you overspend when you are bored, or stressed out? Are you spending the money to make life easier (you … Continue reading →

Why Do You Spend Money?

Why do you spend money? This is an important question to ask yourself because it really determines how you make your financial decisions. If you have a spending problem it is important to get to the root of the problem. You may need to seek professional help if you are a true compulsive shopper. You may need to cut up your credit cards if this is a big problem for you. I have listed four unhealthy reasons why people spend money and ways to address them. 1) One common reason that people spend money is that they are depressed and … Continue reading →

Do Your Spending Habits Reflect Your Financial Priorities?

Do your spending habits reflect your priorities? This is a tricky question to ask yourself, because you may be surprised at what you find. It will take some moments of personal reflection and honesty. Hopefully your priorities are truly governing your spending habits. This leads to a peaceful life. First you need to sit down and decide what your financial priorities are. These will vary for everyone, but some common ones are to get out of debt, save for retirement, and pay for your children’s college education. You may want to write down three or four major priorities. Next you … Continue reading →

Do I Really Need to Manage My Money?

We all know people that drift through life, without seeming to have a specific direction of where they are headed. The future is always something that is never too focused. These people are very good at enjoying the present moment. While it is important to enjoy the present, it is also important to plan for your future. Money management is essential to help you achieve your dreams. Many people balk at the idea of having to sit down and budget their money every month. It is stressful, boring and too much work. But they often do not realize all that … Continue reading →

Do Your Parents Influence Your Spending Habits?

Were your parents big spenders? Or were they savers? Did your parents ever talk about money to you? Do they talk about money to you now? What about your in-laws’ spending habits? Are they different from the ones you grew up with? Does your spouse have the same money traits as his parents? Do you? Often money is a taboo subject in a parent child relationship. Many parents are not comfortable discussing the finances with their children. This is truer in a family where there is tension surrounding the money issues. If spouses do not openly communicate with each other, … Continue reading →

Financial Pitfalls: Discretionary Spending

The biggest financial pitfalls for most people happen in the areas of discretionary spending. Groceries, eating out, fun money and miscellaneous categories all fit into the discretionary spending category. It is important to control the amount you spend on these categories, because it can affect your budget and the money that you have. Here are five tips on controlling discretionary spending. 1) Switch to cash for these purchases. Once you have run out of money for the month, you quit spending. It will take discipline, but it will be worth it. You can end up saving a lot of money … Continue reading →

Financial Pitfalls: “I’ve Got to Have It NOW!” Syndrome

One of the biggest financial pitfalls that many people face is the “Got to Have It NOW!” syndrome. You can easily spot those that suffer from it, because they are constantly acquiring new things. The things, which they generally buy, are the latest models with the most features. If you are related to someone (i.e. married) with this syndrome you have learned that looking through the latest technical or automotive or fashion magazines can be a big downfall. Here are five tips to help cure the syndrome. 1) Pay cash for all items. This means that you do not go … Continue reading →