In our modern age of monthly, automated, potentially varying payments, it’s hard to figure out what’s going on with your finances. If you’re not intentional, the amount or number can catch you by surprise after you’ve already paid it.
This kitten understands that automated payments, especially those tied to a debit card, put the collectors in the driver’s seat. Automated payments are the worst kind of “out of sight, out of mind.” Before, she was being overcharged on her utilities without realizing it and spending more than she intended with her cellphone and not knowing. Now, she has turned off automated payments. Now, she knows just how much she spends.
For her, Saturdays are finance days. She updates Quicken, a budgeting software where all of her credit and debit cards’ activity is tracked with one click downloading. She evaluates if any monthly payments can be trimmed while she pays them. She unplugs electrical devices that went unused the week prior. She inspects her kitchen for any old food that can be used. She is in the driver’s seat of her finances.
How do you track your spending?
Read all the Kittenomics here!
To read more about this topic check out Saving: the Most Fundamental Element of Wealth
Photo of Daisy taken by Paul Reynolds and used here under Flickr Creative Commons.
Sweating the Big Stuff just today came out with an article titled 5 Crazy Ways People Waste Money. Number three sound familiar…
And yet the same author wrote an article titled If It’s Not Automatic, It’s Problematic where he writes:
I like how he walks the line. Automatic payments are okay, but beware the dangers. If you choose to automate, be sure to pay with a credit, rather than debit, card and also to look at the bills around payment time just so you know how much of your money is going where.