This week we reviewed reasons for overspending. Usually, it is psychological. Some women become shop-a-holics who love to save money by purchasing items on sale. Who doesn't love a good deal? Some men are collectors; what they purchase could be worth more money in the future. Other men are known for big-ticket purchases. I just bought a new big screen TV. With that amount of money, my wife, who is a great shopper, could buy shoes for our family for the next 10 years. I hope the TV lasts a looonnng time. To be a good steward of our finances, we must track where the money goes. Where do you spend money? The other week, right in front of this station, a couple of students were walking by and I overheard their conversation. Someone said, “A dollar for that? I could get a soda for a dollar.” I almost yelled, “You can get a whole 2-liter bottle for less than a dollar. Don't waste it on one soda.” Try looking at convenience purchases and impulse purchases. Start with those two categories, and you will find plenty of ways to reduce your spending. And finally, if you chose to share this information with you spouse, please don't mention my name.
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