Every day this week I am going to tackle some specific reasons why you might be having such a hard time paying your bills!
I recently had a reader send me a message saying they had sat down and did a budget after I had posted a meme to my facebook page to just get it done but she still can’t seem to pay the bills! We had a chat back and forth through Facebook to see what might be the issue and these are the questions that I asked her:
- How many times did you stop off and get coffee on the way to work, or eat out either for lunch or dinner in the last few weeks?
It turned out that between eating out at work and at home she had spent a whopping $200 in the last month!
Often times we think that the budget it blown with big things like “the car needs repairs, tires” or you got sick and missed time not paid at work but usually in my experience, people nickel and dime themselves to death. You think to yourself “I’ll just stop off and get a coffee” or some fast food for lunch. “I am just going to get a soup today for lunch to go with my sandwich I brought”. You think of them as little things but they aren’t, not when you add them all up!!
Log into your bank account today and go through line by line writing down any of these kinds of spending. It will give you a good idea of how much money you are wasting on a monthly basis and most often when I go through this exercise with people they are dumbfounded at the total especially when we multiply that by a year. This woman was wasting $2500 or so a year on things like this!