Everyday Cheapskate: Where Does All the Money Go?
Like trying to hold onto a handful of water, money has a way of magically disappearing right before our eyes!
Has this ever happened to you? It's Friday. You stop by the ATM on your way home from work and get out cash for the weekend. Without much detailed calculation, you punch up a number which is far more than enough.
It's Monday morning, and the kids need lunch money. You scramble through your pockets and come out with $1.83. Where did all that money go?
I believe that most of us live in a financial fog, having only vague notions about how much available cash we really have, how much we owe and how much we are spending each day. It's like eating peanuts. Before you know it, the bowl is empty.
We like to hold our spouses and children accountable with, "I just gave you $20 yesterday. What did you do with it?!" Or the famous parent-to-child query: "What happened to the 10 bucks I gave you last night? You think money grows on trees?!"
Would you like to know where all the money goes? You can. It's simply a matter of breaking an old habit and learning a new one.
BAD HABIT TO BREAK
Coma Spending. (Co-ma: n. A condition of profound unconsciousness.)
Pretty much self-explanatory. Coma spending includes writing checks willy-nilly, spending coins and currency, and using credit cards, debit cards and any other way you can think of to spend money.
GOOD HABIT TO LEARN