more on spending habits-1 of 4 obstacles to creating real wealth

[Rich Weese]

I was going to add to a previous, earlier post, but decided to just post new. Story-
A few years ago, one of my 6 kids called and said her car was dying and she needed a new car but couldn't afford payment. I asked her what the payment would be(used car) and she said around $300 per month. I know how much her and husband earn, so I found this hard to believe.
I told her I'd help her out on one condition. Prior to the help, I wanted her to carry a small ledger book in her purse, and write down every single expense she had for 30 days. She agreed. Utilities, house, clothes, fast foods, movies- popcorn etc.etc etc.
She called after a couple weeks and said"I don't want to do this any more". She had realized that she had spent almost $200 on just crap! Movies, 7-11, fast foods, coffee and doughnuts, her husbands' paper, and on and on.
They made some changes, got another car and learned something about budgets. If you don't think you have any money for investing, I'd suggest you try the same ledger for a month. My guess is, you'll be shocked at the waste. Rich

[Ted Harris]

Along the same lines, I check all (wife, me & kids) cell charges very closely each month. I find unnecessary charges from time-to-time which usually can be removed with a phone call or blocked to prevent future expenses as they will linger for months under the radar unless checked ....