I am working hard at limiting my spending just now, because I am not working and my Social Security won't kick in for a few months. And I don't want to draw from savings any more than I have to.
This is a useful and interesting exercise, however. I'm really learning a lot about my spending habits... and they really DO seem to be habits... often bad ones. Rationally, I should spend money because I have carefully thought about the expenditure and really need something. But... in practice I find myself wanting to spend money for recreation, out of boredom, or to buoy up my spirits. Sometimes out of denial. Now, I'm by nature very thrifty. But I'm still not always spending my money as well as I could be.
A couple places where money kind of "leaks" from my budget due to impulse spending are (1) food, and (2) reading materials.
I try to forestall problems in the food purchase area by making a shopping list before I visit the market. But sometimes I'll see a great bargain and buy things I didn't plan on. That's not so bad, I don't think, so long as the bargains are things I would have bought anyway, and won't go to waste. The bigger problem for me involves the treats. Just yesterday, I was walking home from my class at the library in the late afternoon, just before dinnertime, when I (impulsively) decided to stop at a convenience store. I needed bread, but ended up (impulsively) deciding to buy a frozen French bread pizza, so I would not need to cook dinner. Then I added a pint of ice cream - just a little, a reward for a week well completed. Well - that was over $10.00, because everything is expensive at the 7-11. I could have made a healthier pizza at home for half the price. And I don't need ice cream, especially not the premium kinds. I have some excellent low-fat flavored yogurt in the fridge that costs a fraction of the price of that ice cream, and is much more healthful to boot.
I think I need to be writing out menus for the week, as I used to do. I can plan ahead for the days when I get home late, and make sure I have something already prepared, ready to heat up. Planning menus will also allow me to buy just enough for the week. Not too much, so that things are wasted - especially produce, which is expensive these days but doesn't seem to last as long as it should. But also not too little, so that I need to make extra trips to the store, trips in which I may be tempted to buy other things not on the list. So that's my job for today - menus, plus shopping list. I will also survey what is in the fridge and needing to be used soon, and incorporate those items into upcoming meals.
So I'm not lacking entertainment. It's just a bad habit I've had for many years. In fact, that's why I already have so much reading material around the house. So I just need to keep working on control, and thinking about each purchase - do I really need this book, cookbook, magazine? How could I read/use it without buying it? Is there some other alternative? With the Kindle, it's so unfortunately easy to just hit the "buy" button! I've begun to form the habit of ALWAYS first downloading a free trial, usually the table of contents and first chapter. In most cases, if I take a look and wait a few days, my impulse to make the impulse purchase goes away. So I just need to keep working on forming better habits, and reminding myself of all the reasons I don't WANT to buy that book or magazine - I don't want my house cluttered up even more, I want to find the item for free at the library, or buy it used for much less.
If I can continue to do well in these two areas, to form better habits, I'll have much better control over my budget. And that means I'll have more money to spend on the things I really need and want to spend money on. A decade ago, I used to do a lot of impulse spending on clothes, especially in discount stores like TJ Maxx and Marshall's. I had a full closet, but still could often find nothing to wear. It's so easy to fritter money away on non-essentials. And then you find yourself without the funds for the really important things. And so much of it is just... habits. Habits that can, and should, be changed.
This is a useful and interesting exercise, however. I'm really learning a lot about my spending habits... and they really DO seem to be habits... often bad ones. Rationally, I should spend money because I have carefully thought about the expenditure and really need something. But... in practice I find myself wanting to spend money for recreation, out of boredom, or to buoy up my spirits. Sometimes out of denial. Now, I'm by nature very thrifty. But I'm still not always spending my money as well as I could be.
A couple places where money kind of "leaks" from my budget due to impulse spending are (1) food, and (2) reading materials.
Impulse Food Purchases
The biggest problem with food is that it is necessary to live, but can also be used as a reward or treat. Kind of the same problems you have when dieting.I try to forestall problems in the food purchase area by making a shopping list before I visit the market. But sometimes I'll see a great bargain and buy things I didn't plan on. That's not so bad, I don't think, so long as the bargains are things I would have bought anyway, and won't go to waste. The bigger problem for me involves the treats. Just yesterday, I was walking home from my class at the library in the late afternoon, just before dinnertime, when I (impulsively) decided to stop at a convenience store. I needed bread, but ended up (impulsively) deciding to buy a frozen French bread pizza, so I would not need to cook dinner. Then I added a pint of ice cream - just a little, a reward for a week well completed. Well - that was over $10.00, because everything is expensive at the 7-11. I could have made a healthier pizza at home for half the price. And I don't need ice cream, especially not the premium kinds. I have some excellent low-fat flavored yogurt in the fridge that costs a fraction of the price of that ice cream, and is much more healthful to boot.
I think I need to be writing out menus for the week, as I used to do. I can plan ahead for the days when I get home late, and make sure I have something already prepared, ready to heat up. Planning menus will also allow me to buy just enough for the week. Not too much, so that things are wasted - especially produce, which is expensive these days but doesn't seem to last as long as it should. But also not too little, so that I need to make extra trips to the store, trips in which I may be tempted to buy other things not on the list. So that's my job for today - menus, plus shopping list. I will also survey what is in the fridge and needing to be used soon, and incorporate those items into upcoming meals.
Impulse Reading Materials
I love to read, and have a houseful of books and magazines. I also read things on the internet. But... I am still frequently tempted to buy more books and magazines! The lure... that there is some, new, wonderful thing I need to learn, something that will change my life, or whatever. Rationally, I know I have enough novels, nonfiction, magazines - information - to last the rest of my life. Not to mention a nearby public library at which I can check out virtually any book or magazine I want, not to mention audio books, e-books, and DVDs of movies and TV series. AND I already have a subscription to Amazon Prime, which allows me to stream, at no additional cost, about a zillion television shows and movies. (They just this week added all seven seasons of West Wing, my all-time favorite series, so I am in heaven. At $6.59 per month, I think Amazon Prime is one of the best deals around!)So I'm not lacking entertainment. It's just a bad habit I've had for many years. In fact, that's why I already have so much reading material around the house. So I just need to keep working on control, and thinking about each purchase - do I really need this book, cookbook, magazine? How could I read/use it without buying it? Is there some other alternative? With the Kindle, it's so unfortunately easy to just hit the "buy" button! I've begun to form the habit of ALWAYS first downloading a free trial, usually the table of contents and first chapter. In most cases, if I take a look and wait a few days, my impulse to make the impulse purchase goes away. So I just need to keep working on forming better habits, and reminding myself of all the reasons I don't WANT to buy that book or magazine - I don't want my house cluttered up even more, I want to find the item for free at the library, or buy it used for much less.
-oOo-
If I can continue to do well in these two areas, to form better habits, I'll have much better control over my budget. And that means I'll have more money to spend on the things I really need and want to spend money on. A decade ago, I used to do a lot of impulse spending on clothes, especially in discount stores like TJ Maxx and Marshall's. I had a full closet, but still could often find nothing to wear. It's so easy to fritter money away on non-essentials. And then you find yourself without the funds for the really important things. And so much of it is just... habits. Habits that can, and should, be changed.
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