Eyes Bigger Than Your Stomach: Do You Overspend on Food?
One could argue that food is not the worst item to spend on. To some degree, that may be right. There sure are more harmful items to spend your hard-earned money on, and their effects may be detrimental to your mental and physical health. This doesn’t mean, however, that you should leave your food spending unchecked.
Being ignorant of your food spending habits may be causing some of your problems. Look at the following situations:
You Treat Yourself to Comfort Food Daily
Yes, there will be bad days. Some are so challenging that you just want to sit in a corner and cry — even if you’re at work. You think to yourself, surely it couldn’t hurt to binge on your favorite ice cream, cake, or a plate of cheesy fries. Then, at the end of the month, you wonder where your money went.
It’s easy to track purchases that cost a lot, but a couple of dollars on fast food may feel like loose change. However, they add up to a significant chunk that you’re missing in your budget. That money could have gone to your bills or emergency fund. It’s good that Boise residents have help in the form of title loans and other lending options, but think of the money you’re losing from comfort food that could have helped you pay off the interest in these loans in the first place.
You Get Persuaded to Eat Out
Socializing is not bad. What’s bad is when you only socialize in expensive settings because it’s what your friends want to do. If you don’t have the means to cover the bill, the smart move is to suggest a different activity or restaurant.
There are even ways to spend nothing when socializing. The problem is inherent in millennials who are competing with their peers when it comes to social status. You see your friends living their best life according to their Instagram profile and you tell yourself you need to step up your game. Do that at the expense of your finances and you’ll end up being far worse in the end.
You Are Heavily Influenced by Social Media
There’s a new hangout spot in town. Their cheeseburger looks good, and you know that because it’s what everyone’s posting on social media. As a result, you do what every other person does — you go out and try it for yourself. These days, taste is secondary to aesthetics, and advertisers know this.
Before you can even eat the food, you consume it with your eyes, marveling at how beautiful it looks on your feed. If you’re going to a restaurant just to have a plate to post on social media, there’s a big problem with how you prioritize your expenses. Your wallet is a goldmine for advertisers and if the food tastes bad, you can’t un-spend what you’ve already spent. Usually, you would not go to places with poor customer satisfaction, but if they look good, you’re willing to overlook a couple of one-star reviews.
How much of your spending is on food, and how much of it is for unnecessary snacks or overpriced dinners? It’s time to ask yourself if your food spending habits need to change.