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Wednesday, July 9, 2008

Financial Vices

Five Cent Nickel recently asked bloggers to post about their biggest financial vices. I wasn't sure what this might be off the top of my head. A year ago, I would have said it was books or purchases from Lush. But since putting myself on a budget, I've been very good about not spending much on either of those things.

Looking at my budget, I'd say that my biggest financial vice falls into the general category of "food." I don't eat out much, but when I do hit up a restaurant with a friend, we typically go all out, with wine and appetizers and dessert. I'm also a sucker for fancy groceries. I try not to go into Whole Foods too often, but when I do, I find myself drawn to all sorts of things. Sure, I'm buying things that are healthy and that will get consumed, but they are a drain on my budget. I'm thinking that I should actually split my grocery budget category - most of the money for typical groceries, with maybe an extra $30 set aside for "splurge" purchases. Maybe that would keep me in line!

Abundant Life Spending Spree - $51,200
I've been watching Planet Green a lot lately, and have become fascinated with alternative energy sources. I love that Ed Begley Jr. has a stationary bike that he rides in order to generate enough electricity to power his toaster before breakfast. Ok, maybe that's a little weird, but at the same time, I bet I'd be more inclined to workout if I was not only doing something good for my health but also generating electricity and doing something good for my wallet.

Anyway, for today's spending spree purchase, we must first pretend that I own a house. I know nothing about this house except that it is a house and not an apartment. And then, I would use the $51,200 to buy a solar panel system - the best I can get for that amount of money. Going off the grid, even just partially, seems very appealing.


budgets are sexy said...

I'm totally with you on this one! I could have counted a number of financial vices i had 6 months ago...but now?

I was actually about to post something on it today too! haha... our pf family is awesome.

Tom said...

Yes! We spend way too much on food... $400-500 a month on food (though we cook 5 days a week). I probably wouldn't change it if I could!

I'm also feeling you on the solar panels! Throw in a solar hot water heater, and you'll be set!

SterlingTrust said...

Hi there - well done with the budgeting - and for blogging about it and helping educate others.

I was hoping to get your opinion (and the opinions of your regular readers) to give us some feedback on our UK-based debt help charity site. We basically provide free online tools, support and practical advice to people who do not have the means to afford commercial debt solutions (which cost money) or just simply those people who do not want to pay for debt management. Our site address is www.sterlingtrust.org.uk. However, (probably due to the current financial climate) we're getting more and more overseas visitors requesting help. Theoretically (funds permitting!) we can alter the site to manage different currencies (dollar, euro, etc) but we need some feedback about whether the content is relevant enough... comments appreciated! Cheers, Bill

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