Saving Money: The Bigger Picture
You spend part of your afternoon clipping coupons from the Sunday paper and compose a grocery shopping list that corresponds to your coupons, all in an effort to save some money. You go to the grocery store and meticulously shop for the best deals. You choose the sixty-five cents can of corn instead of the eighty cents can and silently congratulate yourself on your financial victory.
Then on your way home you drive through a coffee shack and buy a $5 coffee, a $3 scone and you tip the cashier $1.
Why labor over saving money in one area of your life, but not others?
Many people get it into their heads that they have to save money on the things that people can traditionally save money on. Clip coupons to save money on groceries. Save money on gas by consolidating your errands. Pack a lunch every workday to save money. You do all these things because you know that you can save money by doing them and they are common ways that people use to save money. When you take a hard look at how you spend your money, however, it can become glaringly apparent that although you do make an effort to save money in some areas of your spending, you sincerely lack any effort in other areas.
In other words, why work so hard to save money in one area and then spend with reckless disregard in another?
There is certainly something to be said on spending money for the things you love. If you have a certain hobby that is relatively expensive you might try to save money in the other areas of your life so you can continue to afford your hobby. It’s another thing entirely to resolve to save money but then go and spend huge amounts of money on things that you don’t even think twice about. Why labor over your weekly grocery shopping to get the best deals but then go out to eat at a restaurant without a second thought at how much money it costs?
When you’re trying to get your personal finances in order, you need to take a look at where your money actually goes. It’s a great idea to clip coupons and look for sales, but don’t let it stop there. Look at the bigger picture, and figure out where all your money goes so you can truly start to save some money.
February 16th, 2009 at 5:32 pm
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