$pendle$$ 101: #1

Does anyone out there also struggle with keeping spending to a minimum?

Raise your hand. We’re all in this together (HSM throwback not intended).

I’ll be the first to admit that a) I’m only just beginning to become comfortable with talking about my financial state and b) I spend heaps of money on things that I don’t need.

I AM TERRIBLE.

‘Ooh, look at that Batiste Dry Shampoo. I’ll get it. It’s ONLY $3.50.’

‘OH. MY. GOD. I love that BB cream. It’s ONLY $15.95. That’s coming home with me. ‘

ONLY is the key word. We talk ourselves into buying things that we don’t need, by attempting to rationalise the price. And because things are ‘ONLY’ a certain price, rather than waiting to see if we actually need that special/hot/new/whizbang thing, we buy it straight away – on IMPULSE. We don’t think – we just buy. And without even knowing it, those things that ONLY cost a few dollars, add up and when you check your balance on your debit card, you get a shock, because you realise that it’s down to $13.05, when it was $172.80 just three weeks ago.

I’ve only recently got my first part-time job and it’s only now that I’m seeing how important it is to save, save, save. So when I look at that Innoxa Day and Night Cream at $27.95, I know what I had to do and how long I had to work for, to earn that money and magically, the ‘night saviour’ stops being a NEED and returns to it’s rightful place as a WANT.

But what is a WANT and what is a NEED?

Want: Something that you would LIKE to have. For example: the Naked3 palette, but you already have palettes with similar colours.

Need: Something that you HAVE to have. For example: a geometry set, because you don’t have one and it is required for your classwork.

I’ve come to the point where I’ve realised how I’ve probably spent a few hundred dollars over the past few years on WANTS.

To help keep me in check with the number of times I say ‘bon voyage’ to money and ‘bonjour’ to new products, and to help show me just how much I spend in a short period of time, I’ve begun to keep a ‘money diary’. My diary lists the date, the amount I spent, where I spent the money, the name of the item I bought and the reason that I bought it.

This is my Money Diary – from Thursday 12th February 2015, to Sunday 15th February, 2015.

I’m going to keep you all up-to-date with out my spending-less is going and am aiming to check in with you once a fortnight, displaying my MoneyDiary for those two weeks. As I become better at saving my money, I’ll also give you guys some tips on how to save and budget. At the end of every few months, I’m hoping to make a video on products that I regret buying, showing you what I really hated or didn’t need, that I’d bought fairly recently.

Bea xx

P.S. What do you spend most of your money on? Let me know in the poll below xx

 

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