You don't have a Money Problem, You have a Self Control Problem

Many people feel like they have money problems.  They can't afford the things they want, and maybe even the things they need.  They live paycheck to paycheck, never having enough money left over to save for the future or guard against unexpected expenses. 

It can be very frustrating and even scary to feel like you don't have enough money for the things your family needs.  If you believe that your income is the problem, then you probably feel very helpless to change your situation.  If this is your life, we have good news and bad news.  The bad news is, it is probably your own fault.  This may be hard to hear.  You may be saying, "You don't know my circumstances" or "I really just don't make enough money to cover all our necessities."  And maybe you're right.  But what if we're right?  What if it is you, and you can make a change that will better your situation?  The good news is that if you have a spending problem and not an income problem, then there are a lot of things you can do to take control of your life.

We (Kate and Marcia and our respective families) have lived through a variety of levels of both poverty and surplus.  We know how it feels to want.  We also know how it feels to not quite know where all the money went this month.  We aren't here to judge; we're here to help.  Instead of complaining about money, it's time to take control of it. 

Chances are there is someone out there right now making less money than you but living better than you are.  Chances are there is someone who has even more debt than you and less income, but is finding a way to pay it off anyway.  Chances are there is a family out there larger than yours but living on less.  

Go online and look at your bank account for the past three months, and take an honest look at where your money went.  Do it.  Do it right now.  Look at everything.  Everything.  Don't just look at the phone bill and say, "That's a utility and there's nothing I can do about it."  Think: do you need this phone, this plan, these features?  What can you live without?

Are you spending a lot of cash that you can't really account for?  You can't say you have no money for your mortgage when you are spending $2.50 every morning on a snack.  A dollar here and a dollar there really adds up over time.  Are your credit cards constantly maxed out?  Get rid of them.  Or at least stop using them.  Put them in a ziplock back, then put that bag inside another bag full of water and hide it in the back of your freezer.  Then you will only use it for a real emergency.  As a culture we are all about getting what we want now.  Remember the good old days when you used to have to save up to buy something? 

Bottom line: you are probably wasting money on a lot of things without even realizing it (we all do!).  So be honest with yourself.  Look at where your money is going each month and decide for yourself if you have a money problem or a self control problem.

For those of you just coming to terms with your own spending guilt, this may be a very painful realization.  To help soften the blow, we've included a classic Saturday Night Live clip (Don't buy things you cannot afford, SNL skit.) to cheer you up.  Enjoy!

And while you're at it, head on over here to check out our post about Budget Flies - lots of concrete tips for reducing all those tiny expenses that can eat up a paycheck in no time.

Marcia and Kate