Mindless Spending

A friend and I were having dinner the other night and for some unknown reason we got to talking about finances.  She is taking a financial management class and she shared with me her snazzy contemporary organizer that has built in envelops where she stashes her cash to pay for expenses in her budget: i.e. food, clothes, utility bills, etc.

What struck me most was seeing the actual cash and imagining the process of handing those bills over to pay the debt.  As we continued to talk, I began having different feelings and thoughts that were surfacing in the moment – It’s so easy and quick to just use my debit card.  I don’t have to make a trip to the bank to take out money. I can get what I need or (want) immediately.

Suddenly, I was aware of how in that moment when I pull out my card to make a purchase, I loose that tangible connection to my money.  I realized that what results is a sort-of mindless spending on my part.  Which as we all know can potentially put you in a financial hole that takes so much time to climb out of.

It made an impact on how I will chose to use my debit and credit cards.  I’m not sure how this will resolve itself in my mind or what habits I will change.  Maybe I’ll buy one of those snazzy envelop organizers too and gain some control over my mindless spending patterns.  Wish me luck and please share with me what worked for you!

For more information on the envelop system check out Frugal Living at: http://frugalliving.about.com/od/moneymanagement/ht/Envelope_System.htm

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