Do People Know When They are Lavishing Their Money?

[Jasz]

Do people know when they are lavishing their money?

In some ways, no. We are always in a state of wanting to improve our lives, and so we spend money on things that make us feel better (if not better looking). Even when we're not consciously aware of it, we're spending money in ways that will make us happier.

But there are other ways that people can be wasting their money. Here's a list:

1. Wasting cash on stuff you don't really need

2. Spending too much time on social media or playing video games or watching TV

3. Buying things without having a good reason for doing so (e.g., buying something because it looks good or because it's trendy)

4. Overspending on purchases (e.g., buying too many pairs of shoes)

5. Not saving enough for retirement (which will eventually come around and bite you in the as*)

 

[Holicent]

In the past, I used to think that people didn't know how much money they spent. Now I know that they do, and it's more than I thought.

I was talking with some friends about their finances and how they were handling their money. One of them said that he had been very careful with his spending, but he still felt like he was short on cash. He was paying off his debts and saving for retirement but still felt like he needed to be more careful with his spending.

Another friend told me that she had been doing well financially and had gotten rid of most of her debt, but she still felt like maybe she should be doing better. She wasn't taking care of herself or spending too much time on frivolous things in her life.

The truth is that people can spend a lot of money without even realizing it because they are so focused on other things in their lives. So the next time you feel like you're not doing as well financially as you ought to be doing, ask yourself if there might be an issue with your spending habits instead of looking at other things as the culprits for whatever problem you're having.