What stories are you telling yourself to justify you’re spending?

I bet you didn’t know you were an author did you.  Whether you recognise it or not we all tell ourselves stories to justify and rationalise our spending.  Some of those stories are short blogs, and others are full length novels!

dinner party compressedWhat do I mean by justifying and rationalising our spending?  I looked up the Merriam-Webster dictionary to see what they had to say about it and this is the definition of justify, “To provide good reason for the actions of [someone].”

Interesting.  What about rationalise?  “To think about or describe something (such as bad behaviour) in a way that explains it and makes it seem proper, more attractive etc.”

I probably don’t need to add much more as those two definitions really sum it up.  But I am going to.

We were at a dinner party recently, and the usual question of “what do you do” came up.  Generally one of two things happens when I say I am a money mentor.  The person suddenly has to go and talk to someone else (the same thing happened when I used to say I was an accountant).  Or I get chapter and verse about how good (or bad) they are with money. Continue reading

Are you experiencing Spending Creep?

What is spending creep I hear you ask?  Well, we think we are doing a good job of keep our spending under control, but things just creep up on us without us really noticing, for example, our insurance comes up for renewal and it is just a little bit higher than last year.  Or the price of a coffee at your favourite cafe goes up a few cents and you don’t notice it.

creep compressed

I had an interesting discussion with my personal trainer/nutritionist today that really got me thinking about how easy it is for creep to happen; not only in our finances but in other areas as well.

I am pretty diligent in my eating habits, I know a couple of glasses of wine goes straight to my back and potato chips head to my hips.  So I very closely monitor how much of both of those I have. If something unexpected happens like indulging in a piece of chocolate cake, (it was birthday cake so that made it OK….) I know I need to do some extra cardio to work it off.

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