whats your biggest financial vice

July 8th, 2008

What’s Your Biggest Financial Vice?

I read a very interesting post over at Five Cent Nickel yesterday talking about what his biggest financial vice is, and asking his readers to share theirs as well.  It started the wheels in my brain turning, for, ask me 14 months ago, and I would have claimed that I didn’t spend anything extra on anything (which wasn’t true but I honestly thought it was).  Ask me 11 months ago, and with a month of budgeting under my belt I would have just softly muttered “Target”.  But ask me now, after learning to control my impulsive purchases much better than I ever have before, and it gives me pause.  I know I have my weaknesses, but they aren’t quite as obvious now.

After some reflection, the answer for me seemed pretty obvious.  My biggest financial vice is scrapbooking.  It isn’t that I spend a huge amount on scrapbooking supplies, but when I have an opportunity for gifts, I always seem to ask for more scrapbooking paraphernalia, and I do spend more than I really fully realize on getting photos printed.   I have been sort of enthralled with getting good prices on photo prints and although I haven’t really spent all that much (and within my budget for miscellaneous things each month) it has become a little bit obsessive.

My son looks at all my unfinished albums and tells me I need to put more pictures in them, so at least he approves.  ;)

What’s your biggest financial vice?

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24 Responses to “What’s Your Biggest Financial Vice?”

  1. Free NFL Pick Says:

    July 8th, 2008 at 7:38 am

    I dont care about spending too much, and always aim at earning more to meet out the spend :) However, I think I spend more on partying, in which i’m a bit addicted…

  2. My biggest financial vice is books. Even using the trading sites you still pay postage. I have to watch how much I use the sites in a months time.

  3. Right now, I am where you were at 11 months ago, my vice is Walmart. The temptation right when I walk in the door, gets to me more often than not.

  4. My biggest vice is investing in myself. Whether it is books, DVD’s, or whatever I can find that increases my knowledge and self esteem. I continually strive to grow.

    As I invest in my knowledge, I invest in the ways I can help other people

  5. Metis-Siren Says:

    July 8th, 2008 at 10:53 am

    My biggest financial vice is toiletries. I have a set budget every month for them and some months I’m fine – I’m under budget, and I always snowflake that money towards debt. Then the next month comes along and that money I snowflaked – well, I’ve run out of everything at the same time and now I’m over budget for the month by $15 (CAN). I don’t buy excessive amounts of anything – I just prefer to buy good quality products that are environmentally friendly and don’t have as many chemicals. I always find it amusing, when they don’t put something in a product and market it as (blank) free – it costs more.

  6. It definitely used to be scrapbooking. For one year I worked as a manager of a scrapbook store as my SOLE source of income. I am suprised I made it financially! Right now I am not sure what my vice is. I have to think about it.

  7. Well, initially I said Take Out (food) and wasting food I had bought, but looking back it has been a variety: when I was single, eating out and travel, when my kids were babies, they were my vice (clothes, toys, etc), as they got older, crafts became the biggie, then clothes, again, and books. Now that they’re “adults” its harder to contemplate fixing big meals and “easier” to do take-out with everybody’s crazy schedules. Lot’s of excess!
    Ah well!

  8. HEEHEE!! Months ago I would have totally said Scrapbooking, too!! Now I hardly buy anything at all in all areas of my life. The only vice I would say would be buying stuff for my kids. I am such a sucker for anything cutsey for them!

  9. Well, I buy too many packages of 2 bite brownies. Um, maybe that’s why I’m having problems losing 5 pounds. And I buy a lot of shelter mags, which I get a lot of use out of, but I’d probably save quite a bit of money if I got subscriptions instead of buying them at the grocery store.

  10. I’m with Autumn above–mine is books. I have more books than I could ever read in my lifetime already on hand! Although I read fast and voraciously, I just can’t seem to stop acquiring books. I do use trading sites, but they still cost money.

  11. I consider my scrapbooking supplies to be ‘an investment in future gifts’…uhmmm…. so obviously I have that problem :)
    Used books for more ‘knowledge’!
    $1/week lottery ‘entertainment’.
    Not utilizing leftovers as well as could be done.
    Joyrides – just to enjoy the beautiful Oregon scenery… well – the sun doesn’t shine much here so I like to take it all in while I can! LOL!

    Ok – thanks for pointing out that I could be doing better!

  12. Staying at my current job instead of getting another job for more money. I don’t think I would have any trouble getting a substantial raise but I stay anyway.

  13. Oooh I agree about scrapbooking!

    Mine is healthy food, I guess thats not really a vice, so actually it’s probably magazines!

    I, like you, am doing a lot better though :)

  14. I can definitely relate to the Scrapbooking thing: I got out of the habit, though, so it’s less a problem for me lately. (Though I do still have “Finish x, y and z scrapbooks” on my “to get to someday” list… sigh.)

    Biggest financial vice for me right now is bit of a toss up between buying DVDs at Amazon.com and eating out. I budget for each (and buy used DVDs when I can) but I always seem to want MORE DVDs! More fun dinners out with friends! More specialty coffee drinks! More more more. Needless to say, I do not budget more each month than I have been… I just always want to. :)

  15. My biggest vice is probably toys for the kids. If I’m out alone, I want to pickup something fun for the kids. It can really add up quickly too. When I go to Costco, I stick to my list, then I browse through the books and end up with something for the kids.

  16. Without a doubt my biggest vice is eating out. It doesn’t feel huge because its usually a small amount (5-7 dollars), but when I keep doing it each month it all adds up.

    Not to mention that it’s not a healthy vice either!

  17. ELECTRONIC GADGETS! I love em. When a new one comes out, I want to get it. A few years ago, I would have gone out and put it on credit. Now, I am alot smarter about splurging on the latest and greatest gadget.

  18. Too many financial vices to count! (Which is why I am so glad I found this website last week =D) Hopefully you will all be a big motivation for me to rein in my impulses to acquire more: books, yarn, knitting supplies, facial care products, interesting teas, etc, etc. Money CAN buy happiness if it’s delivered by UPS (just kidding, I think).

  19. Definitely booze (hey, I’m a 20-something with no kids!), wasting groceries, and my aquatic plant/fishkeeping habit. I’ve cut back on the first expense, am working on the second, and have tried to keep the third expense as low as possible. It’s hard sometimes.

  20. After reading through all the comments I see that books is probably my biggest vice too. I love books and hardbacks especially. So I always try to buy them. Of course that adds up quick. I have got to start getting myself to the library. It’s only 2 miles from the house!!

    Originally my thought on my vice was going to be buying things I want that I really don’t need. From the big screen TV in the basement we never use to the second monitor for my computer I don’t use. I have managed to stop myself from buying a new softball glove since the season is almost over at this point. But I really want one!

  21. With books, i learned I should GO to the library and not BE the library. That was a hard lesson to learn :)


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