My Fatal Flaw

What is a fatal flaw in regards to finances?  Well I look at it as the main reason(s) that I keep getting into deeper debt or continue to stay in my bad habits regarding money.  I have three fatal flaws that I recognize at this point.  They may seem ridiculous to some but to me these are flaws that keep me from managing money the way it should be managed so we can pay down our debt faster.  These fatal flaws are my own, I own them and I am ready to do something about them.

My Fatal Flaws:

1.  Impulse

2.  Eating out

3.  Bored spending

Impulse.  Oh man, I didn’t even realize this one until I asked my husband what he thought my fatal flaws were.  And he is right.  I buy on impulse.  Not all the time but when I do it’s usually big items.  For example, the couches we have hurt my back when I sit on them for a longer period of time so I decided I wanted to get this sectional that I really liked and that I knew wouldn’t hurt my back.  We didn’t need it and although we couldn’t really afford it, the store does 6 months in home layaway so I made sure I could make it work with our budget and got it.  It caused us to hurt for a couple weeks but I justified it and impulsively bought it.  So what did I just learn about myself?  When I want to buy something that is not NEEDED….take minimum 24 hours to think about it because most likely the impulse will pass (although that wasn’t the case with the couch!!!).

Eating out is my biggest fatal flaw.  I don’t really like to cook and so we eat out a lot or get take out.  Way more then we should, I absolutely know this.  It costs us double our grocery budget, if not more, to eat our then it does to cook at home.  This is one that I really need to scale back on.  I want to say go out once a week and cook at home the rest of the time but I know this one is going to be hard for me.  I am hoping my hubby will take over cooking on 2 days (weekend days most likely) so that I don’t feel like it’s all up to me.  He says he will so here’s to hoping it helps me meet my goal with this fatal flaw.

And last but not least, bored spending.  I am a stay at home mom and although I really am so thankful for the choice of staying home or working now, I get bored really fast.  When I get bored, I want to go out and when we go out it’s usually places that require money.  Or I will go shopping, spend $20 here or there to get that “fix” but it adds up quickly.  I think my remedy for this is to find a part time job at least.  I think having a job that will get me out of the house, keep me busy, and bring in money to help reach our goal faster will alleviate this need to spend out of boredom.  And it will help me enjoy being home even more.

So there you have it, my three fatal flaws.  I have discovered them, thought of a way to improve them, and now it’s up to me to do so.  Hopefully progress is made soon!!

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