6 Times We Overspend (and How to Stop)
Overspending happens to all of us. Even when we think we have a budget set-in-stone, there are certain times in our lives when overspending seems close to inevitable. Our friends at LearnVest recently compiled six of these high spending times with “6 Times We Tend to Overspend.”
Here are two of LearnVest’s 6 Times that resonated most with us:
You’re Going on Vacation
This illustrates a double-whammy of financial don’ts: The spending trigger coupled with the sunk cost. You’ve just booked your dream trip, and since you only have a finite number of vacation days, this getaway has to go perfectly. Which means you must have every possible accoutrement to make it so.
This is the king of “I deserve to treat myself” situations. After all, you rationalize, you’re working 40//60/100 hours a week, so don’t you deserve something nice? For my online shopping friend, her release comes in the form of cardigans. For others, it might be frothy coffee or fine wine.