Friday 19 June 2015

The Continuing Struggle Against the F’it Impulse

I admit it, and I have never denied it . . . I am not perfect. I am not the perfect model of fiscal frugalness or thrifty perfection. I try, but I falter now and again (hence why I am in this mess to begin with). Now and again I just say F’it and buy something that technically I don’t need. 

When I have a card paid off, or if I charge just a hundred or so on it, that card is swiftly back down to zero. I have also consistently stayed out of my overdraft for the last few months. 

Yet, in the last few days I have put a bit more on Card #2. With my 1 year anniversary of living in Wanda full-time, approaching, I really wanted to go somewhere to celebrate this. I didn’t want to dip into my contingency fund, but I have done that a bit over the last while. I intend to top it back up to $500.00 this payday. 

Since I have approximately $2000.00 on Card #2 anyways I figured F’it and charge the reservation of the camping site onto it. Then I got thinking that I really need a weekend out of the city this weekend . . . so I charged that. Naturally I needed some special groceries for this weekend, yet I didn’t have any cash in the food budget left, so I charged that ($40.00).

As I sat and unwound from my active evening of laundry and running around, I reflected as to why I did this. Why do I do this? I am certain that I am not alone in this impulse, so identifying it is key and would be helpful to myself and others. As we all need to curb future F’it impulses, in order to maintain control over your finances. 

I came to the conclusion that when the balance on the card is up high enough that I won’t be able to pay it off in a payday, then it kinda shifts over to a “Medium Term Debt.”What do I mean by “Medium Term Debt?” Well, a Card grows to become a debt that is going to take me a few months to pay off I see it differently. I start to say, what’s the harm of a little treat or two piled ontop of the already sizable debt? Proportionately this is not that big of a deal and not that much, when compared to what is already on the card, right?

Wrong! All of these “Little Treats” add up to a sizable chunk, and if left unchecked can run that card right back up to its limit. That is why we all need (myself included) constant vigilance against the F’it impulse. 

Once in a while a genuine treat is fine, if you have a plan to pay it off, fine. These impulses, like the one I have described are dangerous. Such treats should be budgeted for and paid for with cash that you have put aside. Yes, little treats now and again are nice and life should be celebrated, yet doing so should not financially sink you. As with the rest of life, Balance is key.

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