A month from now marks my second year in the real world. And as I vaguely keep track of where I am now two years after graduating from college, I could proudly say that I am BROKE.
No, I do not spend a lot shopping. I detest going around the each store at the malls looking for shoes, clothes and other stuff unless I am assisting someone. Although you can find me inside a mall more than 3x a week, it is still a struggle to shop for my own things.
I also don't splurge on travel. Although I do love to see places, I always end up dreaming of those places instead of going to them. I practically find myself stuck in the city for several months before going out.
Neither do I spend on expensive gadgets. I do dream of them. Most of the things I wanted are fancy electronics, yet the moment I face their price tags, I chicken out.
What really made me broke are not those big things like shopping or travel. Instead it's those little things. I realized this after reading this 5 Money Mistakes You Might Be Making (and How to Avoid Them) on Shine. The first mistake had my name all over it.
Money Mistake #1: My Money Is Disappearing
No one starts the month planning to fritter away a small fortune, but that’s what can happen when minor expenses spiral out of control. It’s not just shopping at Saks that gets you into trouble. Seemingly innocent purchases — $15 jeans at Target, a few things for the kids at a two-for-one sale, the occasional Frappuccino — can do real damage to your bottom line.
What does it take to waste $10,000 a year? Just $27.40 a day. “You can undermine some of your most important goals with purchases you’ll never remember,” says Suzanna de Baca, president of Private Capital Solutions Group, a Des Moines, IA, investment advisory firm.
I am guilty. I get to spend on food that costs less and find myself broke at the end of the day. I also spend for petty little accessories to my gadgets or pens or books or things that doesn't really matter but are dirt cheap.
I probably need to keep track on these petty little things. They are like small leaks to the big bucket. They may be so small, yet the bucket ends up empty because of these.
Hey worthy. how are you? (hep... no ma'am, wala ka na lisensyang tawagin ako nyan hehe)
ReplyDeleteWell, at the end of the day, whether you are the poorest guy or the richest guy on earth... the big question is ARE YOU HAPPY? i guess that's more important than the amount you have in your bank. But having said that, i'm not saying you don't save.
let me add something to your money blog... saving tips. if you are buying your electronics or any of those petty things you mentioned (those that are beyond your basic needs) charge yourself 10% of the amount you spent on that thing and put it in your savings, later on you'll see you have saved more. it's a good way to save. =)
but yeah the most important thing pennyless or not... Be happy and walk in faith. God is our provider... wag lang tayo masyado tamad baaka magsawa si Lord na mag- provide. ;P
Thanks for sharing the Shine article, Kuya Worths. Lately, I haven't been able to save much though for me, it's okay as I'm spending them for important things, that is, more important than saving. I guess sometimes we should treat ourselves for things that we really want, without, of course, forgetting our responsibilities with our family.
ReplyDeleteHey,___ Teddie..( ok kung wala na akong lisensyang tawagin kang ma'am, what do I call you? Ate? Ms.? Teacher? Maybe you could give alternatives? hehehehe)
ReplyDeleteWow, nice perspective. But I think sometimes happiness could easily diminish. Maybe satisfied could be a better term. We could be happy with the laptop or the food that I bought, but after a while, you'd try to find something else to buy or to try. I think it's called the law of diminishing returns.
Anyway, that's a cool saving tip. Maybe I'll try that if I could control my impulse...
True Karl, there are important things that we need. I just realized that I guess the bottom line is that in any circumstances, money is there to be spent, saving it for the future means doesn't mean that you plan to keep the money for eternity, it just means that you're still spending it at a later time.
ReplyDeleteI am in the habit of keeping track of every expenses I make, big or small, be it buying candies or tricycle fee or (impulsive) buying of books and other stuffs, as well as any money I gain. So I know exactly what I waste my money on, and can easily make adjustments to save money. But lately I've been neglecting this, so now I'm also wondering why my money is disappearing. =x
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