Saving skills

[PrincessPerky]

Re: Saving skills

Heh, I am the queen of rationalization! Of couse I NEED this, I can talk myself into spending money like a champ! The only cure I have found is to not ask the question!

[seaar2000]

Re: Saving skills

I figure the money I would waste to have what I want right now is money I am wasting on my retirement. I am the queen of pennypinchers. What I do when I would like to buy something I think will this help me with my goal I am working on right now? For ex., I want to have my car paid off asap and if I buy this item, which isn't a necessity, will it help me reach my goal more quickly. I have a spending journal and I write down each night what I bought and next to each thing I bought I write down if it was a need or a necessity. If it was not a need I quit buying that or get a little upset with myself. I write down what I need and try to find the best bargain on that need. Also, I know that next year my daughters class is going on a trip to Washington DC. I take out $25 every two weeks and know that when the money is due that I will have the money. They will be selling candy to help out with their trip. This way I won't have to come up with the money quickly and cut on expenses somewhere else. Another example is that I know that the roof on my garage has to be replaced and going to put siding on my garage so I have been putting so much money away every two weeks. If you know that something is coming up you need to put a certain amount of money each week so you can pay cash. I detest paying on credit card. It's a matter of being disciplined. I have a limited income so I know I have to be very disciplined or if not I would be in the hole very quickly.

[barbd00]

Re: Saving skills

I think memory comes into play also:

If you can remember that the price of whatever is xx where you usually shop and it is xx cheaper somewhere else because it is on sale then you buy it.

Also remembering what you have vs what you need. I need to practice this one. I once had 3 unopened bottles of mustard and was completely out of ketchup!

[vendigirl]

Re: Saving skills

Honesty. Most people who end up in financial strife do so because they are dishonest about what their means actually are and whether or not they live within them. It's one thing to ask yourself "Can I afford this?" and then juggle the bills around to be able to say yes while it's totally different to ask "Can I honestly afford this?" and take into account the real impact of that purchase. Does that make sense? LOL