What are you spending too much on?
Posted
Jul 14 2008, 10:14 PM
by
Karen Datko
Rating:
We love questions like this one asked by Nickel at FiveCentNickel: "What is your biggest financial vice?" You just never know what people are going to say. Readers name pretty common splurges, like lunches out, and then someone comes out with a zinger.
For instance, after Nickel and others estimated they spend $1,000 to $2,000 more a year than they'd like on eating out, they heard from reader "TSModie." "Is a couple of thousand dollars a year really affecting your finances? If so, you need to start making more money," said TSModie, who lost $20,000 on gambling last year.
"This year so far I'm up, but that probably won't last," the Vegas fan added. "I still save over $100k a year, but I'm sure I've lost over $100k in total gambling over the last several years."
Other responses were downright humble in comparison. Stacey at Just Getting Started isn't happy about the $10 a week she spends on beverages. She wrote: "Consider this: Our food budget is only $45 per week. We spend 22% of our budget on drinks. Yikes!"
Eleven months ago, "paidtwice" said, her vice would have been Target, but now it's scrapbooking. One of her readers also named a shopping destination -- Wal-Mart. For "Coupon Artist," it's the "inability to pass up a deal."
"Converting a Spendthrift" admitted to compulsive purse shopping. She used to hang them in her apartment as "art." Now they're hanging on a pole purchased specifically to store them. "Last count, 37. I love purses of all shapes and sizes," she wrote. She's trying to cut back. "I try not to spend more than $75 on a single purse. I often haunt the nearby Marshalls and A.J. Wright for handbags that are last season or season before but are still trendy enough that I don't feel like I'm carrying the ancient grandma bag."
The gambling comment sparked quite the debate, but -- for better or worse -- TSModie had the last word: "Like I said in my previous post, I save over $100k per year or about 50% of my take-home pay --that is AFTER all my spending and gambling. So please save your nonsensical 'financial advice' for the uninformed masses who occupy your world of the working poor."