Be Aware of Selective Spending

Spending Money

Spending Money (Photo credit: 401(K) 2013)

We all do it to some extent or other, spend without being truly aware of the little impulsive items we buy thinking ‘It’s only a dollar.’ The idea of writing down all of the money we spend, from the change our jeans pocket to the latte we grab as we dash thru Dutch Bros. for coffee. Being aware is the first step to finding out what our spending habits are really doing to the state of our finances. Writing down every cent spent is a great way to become aware of just how much we spend that we don’t consciously plan for.

It is the little spending that adds up, just as the words, thoughts and deeds add up to make an individual character traits. A dime or nickel here or there soon adds up to several dollars a week or hundreds a month. The importance of being aware of the spending habits you have established or the need to establish better ones is not emphasized enough. The instant gratification mindset of today’s society is shown in the way we treat everything from time to food.

Make a habit of writing down all the spending you do and review the totals and purchases. Are you surprised by what you spent? If you ask yourself if you really need that candy bar or coke, you can start spending purposefully instead of not being selective where your pocket change goes. The amount saved will allow you to invest in something you really want or need. Selective spending and awareness of money is a matter of practice and noticing what your habits of handling money are.

Budgeting and money handling are two of the keys to changing your lifestyle for the better. Being aware of your actions is a key to changing those spending habits that are not healthy. It takes time and effort but the end result is worth it when you are conscious of the money spent for a purpose.