Empty-Purse Syndrome

If you pay a daily visit to the ATM but your purse is always empty, you’re spending money without even realising it. Tick all the statements below that make you think, ‘That’s me!’ then read on for expert advice on sorting those spending habits for good.

FRITTER FACTOR #1: Convenience Spender	• The local takeaway automatically knows my order • If I’m late for work, I’ll grab a metered taxi • I seldom buy enough food to last me all week • Forward-planning? It’s boring If you agree with two or more... ‘This is an avoidance issue,’ says Jasmine Birtles, author of The Money Book: Control Your Money, Control Your Life (Piatkus Books). ‘Getting organised with your cash means doing some boring planning. If you keep your head in the sand you’ll continue to treat your purse like a bottomless pit.’ Sort it: Realise how much this is costing you. ‘Waste R200 a month on convenience spending – like buying a new top instead of mending an old one – and that adds up to R2 400 over a year. That could buy you a week in the sun.’
FRITTER FACTOR #2: Emotional Spender
FRITTER FACTOR #3: ‘It Doesn’t Count’ Spender

Author: Katy Massey