Uncommon Cents

Even after all this time, I continue to keep a spending log. Why, after several years, do I do this? Is it just OCD behavior, or does it serve another purpose?

Just as it’s not possible to save the world but it might be possible to save yourself, it’s not possible to make a huge change in your spending habits without making those changes one purchase at a time. Think about it: every single time you buy something, you are making a choice about spending your money. So when do you need to have some kind of mechanism to make you consider what you’re doing? Every single time you might purchase anything, so any kind of device or condition that causes you to consider what you’re doing is useful in curbing spending.

For me, the spending log is just that device. I’ve discussed it before, but it really makes me think, and moreover, it’s exactly the kind of thinking that we want to get children and adults to do before they act: “What will be the consequences of my doing this, positive and negative?”

I’m not sure how much the spending log has helped me prevent spending, but I’m sure it’s something. When I look at those numbers and when I think that I have to actually write down spending money on something frivolous–like a new MacBook when my existing one is 100% fine–it helps me hold the line, at least for awhile. It’s a simple tool that’s helping to make a difference for my budget, one expense at a time.

Tags: Budgeting, Frugality, Social aspects

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