finance

(almost) purchases

I’ve been itching to buy new clothes these past few days, especially since I’m trying to grow a minimalist wardrobe.  I’ve even gone as far as going into stores and having clothes in my hands as well as getting to the “checkout” page for online purchases.  But right when it’s time to whip out my credit card, I either put the clothes back or exit the window.  And that’s the beauty of tracking your spending.

If I wasn’t acutely aware of how much money I’ve already spent this month, it would’ve been so easy to buy all the clothes I’ve been eying.  But because I AM aware, every time I was about to make a purchase, I’d ask myself “can this wait until next month?”  Of course it can.  Even though I’ve purged so much of my clothes that I’m literally wearing the same outfits to work week after week, waiting another week or two before adding more clothes to my wardrobe won’t kill me.

I used to use the balance of my checking account to help me determine whether or not I should cut back on spending.  But now I use the monthly balance between my inflow (income) and outflow (expenses) as a reference point instead.  It’s a more accurate way to see if you’re really “spending less than you earn.”

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