A couple months ago, I was driving my parents’ car on an almost-empty gas tank, and decided to fill up. I had only taken the car out for a five-minute drive, so I figured I would be doing my parents a favor. I rarely drive, so I didn’t know how much it would cost, but figured it would be around $20. No problem—I could do my parents a good turn, and I wouldn’t even notice the money missing in my bank account.
But as the price ticked up toward $30, I started to feel differently. While $20 feels like nothing, $30 feels like something.
I realized that I’ve started spending $20 here and there as if it won’t make a dent in my finances. After I get my paycheck, I’ll make a few sub-$20 purchases that I was waiting on. Individually, they seem small, as if I’m barely spending money at all. But put them together, and I can easily spend $100 in a few days.
None of these purchases are extravagant; I might buy a book, or a Pilates class, or a couple yoga blocks for my physical therapy exercises, or a few pairs of socks, or some tupperware, or a bottle of wine. But, of course, they add up.
Now, I’m trying to retrain myself, so that every purchase feels like something. It helps that we’re tracking our spending again (more on that later). When you keep track of everything you buy, you are forced to think about everything you buy, even if it only costs $3. It’s a really great tool for getting control over your money.
At what price do you start to feel like you’re spending real money?
2 Comments
June 27, 2009 at 6:11 am
Anything under $10 is hard for me to take serious note of. But as it starts adding up… ouch!
June 30, 2009 at 1:33 pm
When I first had a credit card I did a lot of $10-ish purchases and then was shocked how they added up. Because it’s so easy to order books on Amazon, and now even used books, I have done that often and then when I get the credit card bill I’m again shocked and dismayed at how the purchases have added up.
This doesn’t answer your question, though. I’ll have to think about that one