Saving Money

Most people know they have much more than they really need. Consumerism is the quickest route to financial disaster. Addictive buying sprees, maxed out credit cards and savings accounts are the narcotic attributes of excessive consumerism.

Don’t buy what you don’t need. Just because it sparkles, is the latest fashion trend or represents a public statement of ostentation, doesn’t mean it’s a necessity. Taking an inventory of such items is therapeutic. Make a list of everything purchased in 24 months that has lost its ability to cast a spell or has been relegated to the attic or basement. Write the approximate original price next to each item. Add each price to arrive at a total figure.

This is one of the first ways to cure excessive consumerism. Imagine that the total of these items is equal to more than one year’s salary. That’s a good indicator that the individual is living far beyond their financial means. Inventory No. 2 is based upon personal day-to-day spending habits. Make a list of items purchased in the past 7 days that could have been avoided or were not really imperative to one’s existence. Does the total cost exceed one week’s salary? That’s a week’s salary lost that could have been saved.