When it comes to money, people usually fall into two categories: spenders or savers. To put it simply, spenders are those who tend to spend whatever they have, and savers always put something away, regardless of how little they have.
Ask your grandparents how they purchased their first home, and you may be shocked to learn they spent years scraping together a down payment or even purchased it outright. Today, buying groceries using credit is quite common.
Trying to keep your spending in check is a lot harder than it sounds, especially since it is so easy to make purchases these days. All it takes is a couple quick clicks of a button, and you can purchase anything from groceries to furniture to a new car.
Not too long ago, celebrities and millionaires were the only ones spending money on expensive items for the sake of flaunting their wealth. Unfortunately, nowadays, things are a bit different. ‘Regular people’ who earn a low, medium, or high income are spending their money frivolously to “keep up with the Joneses.”
We live in a Facebook world that gives “Keeping up with the Joneses” new meaning. People tend only to share the best of what’s going on in their lives, and that places added pressure on many people to keep up and emulate their successes.
It's only $5. It's only $20. It's only $100. If you're like most people, you probably hear yourself or your family members throwing around phrases like that all the time, but the reality is that the value of something really depends on whether or not you can afford it.
While there is most likely an app for that, all these apps could be killing your budget. You will be amazed at the wide range of useful apps available for your home computer, mobile devices, tablets, and more.
Nothing beats the joy of treating yourself! Many people feel drawn to the thrill of buying new items, pampering services, or tasty meals. However, overspending can become a financial problem when you’re not keeping track of your budget, leading to unwanted debt and stress.
Right now, you can easily buy anything you want with a quick tap on your phone or a swipe of your card at the store. Beyond that, both brick-and-mortar stores and websites push impulse purchases on you constantly, making it even harder to say no.
In this day and age, it’s very easy to fall into the category of ‘living beyond your means’. With everyone sharing their lives through social media, it’s simple to get caught in the trap of wanting more than you need. Combine this trend with the ease of spending money, especially online, and it’s the perfect formula for spending more than you can afford.
