When was the last time you bought something that you or your family didn’t really need? This is not a trick question. Think about it and answer it for yourself. I’ll bet it was within a week. Spending money wisely promotes family stability. We all buy things that we don’t need. The less often that you do this the better it is for your family. This does not apply to you if you have no credit card debt and you have at least four months worth of your monthly financial needs in a savings account. That last sentence does not apply to very many people. Most Americans spend more and save less of their income than they should.
Eating outside the home is usually fun, but how often is it really necessary. It is at least three times more expensive to eat out than it is to eat at home. This sounds so unimportant, however, it is an good example of want vs. need. It is certainly faster and easier to eat out rather than eat at home. But, it is much more expensive. A family of four can go to a fast food restaurant like McDonald’s and easily spend $25.00 for dinner. Or, they can go to a family restaurant like Cheddar’s or Olive Garden and easily spend $60.00 for dinner. Then there is the expensive restaurants where they can spend whatever they want.
Eating Out Less Often Is Spending Money Wisely
The point is that eating at home is far less expensive than eating out. We all know this. Yet, most go out anyway. Why, because we want to . . . for lots of different reasons. Family dining out should be a treat not a daily or weekly experience. Cutting back on your eating out, and eating more at home is a fine example of spending money wisely. It also saves you money that you most likely need for other living expenses. All you really need is willpower. Make better decisions that are in your family’s best interest. Financial Coaches can help with willpower and other personal characteristics that will lead to financial fitness for your family.
Kevin Smith is a financial coach that actually lives the way he coaches. If you need to improve your life and offer your family hope for a better future, Call Now and receive a FREE consultation with Kevin. It will be your first step towards improving your life and spending money wisely.