Ilyce Glink's Blog
Welcome to Ilyce Glink's blog! Here you'll find Ilyce's latest insights on personal finance advice, real estate advice and consumer issues. Come back often for timely and interesting posts on a wide variety of topics.
Monday, July 21, 2008
The Emotional Spender and Extreme Savers
It's not enough to just write down what you spend -- if you're the kind of person who spends to alter your mood. If that's the case, you need to write down how you're feeling about the money you spend, right when you spend it.
You should also write down how you're feeling when you save money. The idea is to get your emotions in balance when it comes to spending and saving. Your wallet shouldn't be ruled by your emotions -- that's just a fast way to bankruptcy, especially when times are tough.
So, write down how much you're spending and saving -- and how you're feeling when you take both of those actions. Then, work to see if you can't do a better job of controling the SPEND button in your head.
Are you an extreme saver? Let's help everyone figure out how to save more and spend less. Please contribute your best extreme savings tip here and we'll share it on air. Or, call us at 404-872-0750 1p to 4p EST Monday or Tuesday and tell us live on the Clark Howard Show Labels: Clark Howard, Extreme Savers, Spending
posted by Ilyce Glink at 1:47 PM
1 comments
 
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1 Comments:
I'm both. I'm a Emotional Spender and Extreme Saver. I have 5% of my income going into ING Dirct at 3%. Next I round up my expenses in my checkbook. Every penny helps.
I throw my change into my piggy bank. But I don't care about the price...if I need it I buy it. But I am always finding ways to cut expenses.
posted by
Larry Bryan | July 21, 2008 2:12 PM
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