Tuesday, August 30, 2011

Why save money?

For me, saving money where I can is important because with one income and three mouths to feed, clearly we are on a limited budget.  But, why bother shopping for the best deals and even buy generic groceries if your income isn't quite so limited?

It's all about choices.  When money is not an issue it's easy to just grab whatever you want off the shelves.  I know when I have had more disposable income that I have been more inclined to splash out on that expensive brand of make-up, or finally get that iPod I've wanted.  But, mindless buying means that you are not paying attention to your options and making informed decisions.  Just because you have the money doesn't mean you should buy that iPod, or buy the expensive brand of anything.  And, the worst kind of mindless shopping is the infamous impulse buy.

We've all been there whether it be groceries, clothes, electronics, even gum, at one time or another you have picked something up that you didn't plan to and purchased it.  If you know anything about marketing, you'll know that chances are the store you purchased from saw you coming a mile away.  It's common knowledge that grocery stores place small, relatively inexpensive items such as magazines, candy bars, and gum near the registers, so that you get a good look while you're waiting in line to pay.  I have been known to buy a candy bar because I've waited too long to eat, but the most common item I grab at the register is a bottle of water or soda. 

I have been terrible at making sure I stay hydrated lately, and we often shop for groceries after I get off work, so it's a common occurrence that I find myself to be in desperate need of something to drink by the time we are checking out.  Two bottles of water, soda, or whatever (because the hubby has to get one too, of course!) cost around $3.00.  Let's say you do this once a week, that's $12 per month, and $144 per year!  It gets worse if you factor in any other time that you pick up a quick thirst quencher of the 16oz variety.  For example, how often do you grab a cold drink when you stop by the gas station to fill up?

The crazy thing is that you can buy a 32oz bottle of soda for less than $2.00, so we are simply paying for the convenience of being able to grab a cold drink on the go.  If you have never tracked your expenses, or haven't done so for a while, I strongly recommend doing so for a couple of weeks, or a month.  You would be surprised how much you can spend when you are not paying attention.  It's a bit like eating without keeping track.  Sometimes you don't realize how badly you have been eating until you write it all down for a week or so.  In order to live a more conscious life it's important to be aware of of all your expenses so that you know where you stand and can then begin to make better choices.

It's not just about saving money, it's about being conscious of how your decisions impact your life, and in turn, impact the world.  Perhaps you have determined that you're okay with splashing out on new clothes every month, but wouldn't you rather put that money you spent on drinks at the gas station toward coffee with a friend, dinner with your significant other, or that new suit?  Or, perhaps there is an organization or church that you have been wanting to give a donation to, but have yet to find the money in your income to give.  Your values and goals are your own, but if you become more aware of what you are spending and where you can save, then you can spend in better alignment with those values and goals.

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