How I deal with stupid money mistakes
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In Quicken (or whatever budgeting software you use), when you enter an expenditure, you can assign it a category (e.g., gasoline, clothing, cell phone, etc).
I added an extra category to my budget: Stupid Mistakes. This is for things I have to spend money on when I make do something dumb, like getting a library fines, having to switch a flight because I didn’t plan ahead, or paying an extra fee because I don’t have any cash on me.
When I started paying attention to my stupid mistakes, I basically eliminated them altogether within 6 weeks. It’s amazing how a budget–one you created yourself–can change your spending behavior. Now I take the money I would have spent on mistakes and put half into savings and spend half on myself.
How much do you spend on mistakes every month?
I’m proud of the work all of you did last week. In this email, I’m going to award $...Read More