Have you ever thought of your budget as “having leaks”? Did you know that businesses have been counting on your spending leaks for years? Next time you want into a convenience store take a look around the register. What do you see? Let me help you…. Do you need that lighter? What about that 2 pack of cookies? Now you are at a major store like Wally World or Target. Playing cards, travel sized items, nuts, gum… You name it. If you go into any of these places with the intent of buying certain things and buy one of these impulse buys…You just sprung a leak!!
This isn’t an attack on Wal-Mart because honestly…If I owned a business I’d do it too!!
Wal-Mart averages 100 million customers a week. Let’s just say for laughs that 10% bought just one extra item at the checkout stands. That is potentially $10 million dollars a week in impulse buys.
The thing we need to do is Be Aware!! Have you ever broken a $20 or $50 and then wondered…Where did it go? Take the time to track your spending over a month. Write down everything no matter how small. A dollar spent today can be hundreds in a year. Trust me; it will be an eye opener. This is the best way you will ever stop spending leaks and keep your budget from going down in the cold murky depths of spending despair.
Anthony Murray is an NFCC Certified Consumer Credit Counselor and Bankruptcy Services Coordinator at Consumer Credit Counseling Service of Central Oklahoma. CCCS is a non-profit Credit Counseling agency with offices in Bethany, Enid and Tinker Air Force Base. Contact us at http://www.cccsok.org or 1-800-364-2227