September 21 Review

What's your excuse? We all have "excuses" for not saving or not spending our money wisely at all points in our lives, not just for this challenge. Let's take a look at some common pitfalls and how we can avoid them.

• Forgetting about the little things.  DH commented to me today that "it's hard to remember to not spend money." Like buying a pop from the vending machine or a breakfast sandwich from Pronto. I suggested maybe HE take over the blog duties to give him a little reminder each day, but I don't see that happening. :) We discussed that for us, having cash in our wallet allows us to forget and buy the little things. When I am out of cash, I won't buy the small things because I won't put it on the credit/debit card or write a check for it. I usually don't have cash anyway (it's in DH's wallet) but I have been avoiding the ATM so I don't have cash to spend. What helps you "remember"?
• Not planning ahead. Instead of planning a menu around what I already have in the house, sometimes I think of what I want to make and then run to the store for some missing ingredient that is probably NOT on sale. If I'd plan a menu and plan my shopping around it, I'd fare better managing my time AND money. Sometimes planning ahead means thinking about the week's activities and remembering "I won't have time to cook something before choir on Wednesday, so I better have some leftovers or have a casserole from the freezer thawed that can bake while we're out" instead of grabbing some fast food.
• Not having a budget. Many of you are successfully using the envelope system and I personally work off a Microsoft Money budget where I track all our expenses-cash, checking and credit card through our checking account. Having numbers in your head (or cash in your envelope) helps you think of the limits.  For instance, my clothing/hair & beauty budget is $90/month for two of us. So, if I buy a $60 pair of shoes and a $30 shirt, I have nothing left the rest of the month (nor does my husband). It helps me think of the trade offs, like is it worth getting my hair professionally highlighted if it means going without new work clothes (no) or is it worth spending more than our monthly budget on a pair of running shoes that are made for my flat feet (yes-but that means no unnecessary shoes). Is there such a thing as "unnecessary shoes?" :)
• Forgetting the value of a dollar. I've heard many people suggest figuring out how much take-home pay you make per hour. Then, when you see an expensive purse (or tackle box) or whatever, you can think "Is it worth working 6 hours for that item?" Or think of what else that money could buy. It's hard to spend $4.50 at Cold Stone for 1 serving when I know I can get a gallon pail for the same money and enjoy ice cream for weeks!
• Spending everything you've got. The money that comes in your paycheck is not meant to be spent in the 2 weeks until your next paycheck. It is meant to allow you to buy the things you need now, give to those who need it more, AND save for your future needs (house, college, retirement, etc.)  I find it very helpful to have some savings automatically withdrawn from my checking account through a 401k, Roth IRA, online savings account, etc. If you don't see it, you won't spend it, and you  might not even miss it.
• Forgetting the difference between "needs" and "wants". We all fall into the "keeping up with the Joneses" mentality now and then and sometimes we are in desperate need of a reality check. Check out the original "30 Days of Nothing" page that explains the goal of becoming more aware of how the rest of the world lives and how truly blessed we are. These figures are humbling. Next time I think my dishwasher is too loud I'll try to remember that millions of women spend several hours each day collecting water.   Next time I think that my flat-screen TV is too small, I'll try to remember that 1.6 billion people (a quarter of the of the world population) do not have electricity.  And next time I think we don't make enough money or deserve a raise, I'll try to remember that 80% of the world lives on less that $10/day.

As you may be able to tell, God has been convicting me this month, not just about saving for this particular cause, but really evaluating needs, wants, and the disparity of wealth/poverty in the world. I'm not saying that it is wrong to spend the money that God has given you and by no means do I mean to make anyone feel guilty. I just need a reminder myself that all we have is really His and we must be faithful stewards. I feel like He's been softening my heart and placing certain issues in my mind to make me aware of those who have less and that He will reveal a plan for how I'm meant to make a difference in the world and in our community. What has God laid on your heart this week?