• Marie

Why Small Expenses Are Your Biggest Expense | Ep. 8 | Winenance Wednesday

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What you’ll learn in this episode:

1. Why small expenses are your biggest expense (7:43)

2. How eating out/dining out/takeout food is killing your goals (11:17)

  • In November 2011, Stephanie spent $1,300 on takeout food 😱

  • Expensive dinners out can actually be less expensive and more memorable than cheap takeout meals

3. Impulse buying and "on sale" or "cheap" purchases are the culprit (23:38)

  • When you go to Target or shop the Aldi Finds aisle, keep your blinders up

4. It's not how much money you spend, it's WHY you are spending (28:22)

  • How to build "impulse purchases into your budget so spontaneous shopping is still intentional and doesn't eat away from your financial goals

5. Are you stealing from yourself (you financial goals, your future self)? (33:45)

  • The importance of tracking expenses

  • The 24 hour rule (or 72 hour rule)

  • Create a "wants list" on your phone

  • Don't go shopping (for anything) without a list

  • Just because you can afford to buy something doesn't mean you should buy it (just because it's cheap/inexpensive doesn't mean it won't kill your budget and goals)

  • Stop before you say yes to happy hours, dinners out, or other activities (budget for unplanned fun so it doesn't kill your goals)

Want to continue the conversation? Join us Wednesday at 8 pm ET on YouTube & Facebook LIVE for our weekly Financial Independence show: Winenance Wednesday!

Need help tracking expenses and building your wealth? We’re big fans of these apps and tools: