Spending, and A New Blog?

For those of you who know us, my wife and I are accountants by education and often times by practice ( my wife is an accountant at a fortune 100) and we quite enjoy "hacking" the financial systems through our own little tricks and tips. We love the writings of Ramit Sethi, The Mister Money Mustache, and many others, and follow them religiously. We "vacation hack" and use special credit cards to maximize our flier miles. We do many things that really do help us financially, and its a good habit we've gotten into. Partially we started doing this because of our love for finance, and, if you know how to do it, why not leverage your knowledge to help yourself? the other part I think comes from a rapid desire to offset our ridiculous "complainypants" spending habits (as the MMM would lovingly call it) because its true: we just spend too much.



How so you may ask? Well its not like we drive the fanciest cars, or eat out every night. Neither of us spend lavishly on drink or on other types of escape either. So we aren't falling apart with crushing credit card debt, with 3 par payments, or anything of that nature. But we aren't saving as much as we should be, and we sometimes run a balance on the credit cards that we have to float for a month or so. And  it is ridiculous. There is no reason for two folks such as us to do so. We know its bad, we know that compound interest in the most powerful force in the world, ESPECIALLY AT OUR AGE! we know these things! we literally went to college for them. Why then, do we still fall into the same traps as everyone else?



Is it the advertisements? no, that’s a far too easy scapegoat. I think if advertising was the only culprit, then it wouldn't be mine and Stef's personal finance background making us stronger financially, it would be our own stoic nature, shrugging off the onslaught of incoming media, so that’s out. Is it our desire to keep up with the proverbial "Joneses"? No, since all of our friends come from very different walks of life, and are at very different stages in their lives, I would say no. we're always happy to help them, and sometimes I think we're a little jealous of those more "Established" than we, but I can't realistically remember a purchase that stemmed from that.



That brings it right back down to the finances of it. I think that often times because of our financial background we think that we can just "spend a little more" and make up the difference with our financial know-how. I think for Stef, its often that she wants to make sure that Sophia can have absolutely everything she wants. we used our credit card points to buy her her own tablet. and we're giving her a very nice themed birthday party a-la "frozen." She's 3, and will remember some of it. I'm sure she would be just as happy with a big play date at the house with some cake after and a song, but this is important to my wife, so why not? I love to spend money on video games, and cars. I can't help it at times. Do i really need 340 square feet of dynamat RIGHT NOW, in the middle of winter that I wont install until spring. No. Bad Charlie. But this is how it is.



Some people have done studies and blamed it on some "primal urge" to shelter in place, and purchasing shit makes you feel more accomplished. Why does that make you feel more accomplished than if you actually secured your financial future by saving? That makes literally no sense. I mean, maybe there's a "spend lots of money" gland in us that makes it happen, but I doubt it. I think that a lot of it comes down to our desire to just HAVE things to fill a void. except for the necessities (food, shelter, etc) I can't think of a single purchase I've made that was frivolous when I was happy. When I'm happy, I have no desire whatsoever to spend a red cent. I have everything I could ever want. My wife, my child, our home, nice clothes to wear and so forth. Why oh why would I ever want to spend money on a game that I'll end up never playing again in a month? or a week? or a day? Why would it matter if we throw Sophia a huge birthday bash?



So maybe what happens is the marketing we see makes us feel inferior for not owning that thing. Maybe that makes us feel bad. Maybe we imagine how much better we'll feel once we own said "thing" maybe once we outstretch our means to own it, we find that it was untrue. and then we feel bad, and start the cycle all over again. Maybe that's it.



So lets assume that's true. I think we should all make a pact to each other to STOP IT right now. remember that the marketing of the happy family driving the new Mercedes is MEANT to make you feel bad that you aren't that happy family in a Mercedes right now. Realize that said happy family is probably OK with the $850/month payment for a decade, and let them enjoy it. And you turn around, check your back account for said $850, and breathe a huge sigh of relief. Doesn't that feel better? all of that Mercedes money is right there in your bank account! see? you could be that family too if you hated money. good thing you don’t.



I think this might be my own personal answer to overspending. We've all done it, we all do it. But from now on when I want something, I think I need to figure out why this thing I want is making me feel bad. Because if you were OK with your life, why would you want to buy something? You have everything you need, more than likely in sickening abundance. You know how I know that's true? My house has a closet full of shit, and I just moved in. That doesn't happen by magic. There's a basement Half-full of shit. once again, not an accident. Why do I have all of this garbage? because I overspend when I'm unhappy. Now I know.



My wife and I have been throwing around the idea of starting a blog about these financial things, but much more pointed: how to file your taxes easily, how to balance a checkbook, how to effectively use a credit card. How to pay your bills and budget. etc. We want to point it toward folks like us: Just out of college, lots of earning potential, but maybe not accountants by profession. Folks who are out there earning just like we are, but not with the same tools in the tool box we have. I think that you guys know that there's nothing out there for you yet. There are a few 200 page books, and some blogs that help get you pointed in the right direction, but nothing that will help push you guys into true financial freedom that you all went to college for. That's what we want to design. A simple, daily blog that will flesh out a lot of financial ideas that I think a lot of people struggle with. Taxes. Budgeting. Investments. Home Purchases. The list goes on and on, and I could write all day about it, but with the MENTAL GAME fleshed out a bit now (mostly for me, but I hope you found value in it too) I think that we could move forward with a good (completely different) blog to help with that.



If any of you think that you would like it. tell me. if not, also tell me. I'm not a big fan of wasting time.