Have you ever eaten the whole pie? We’ve all done it figuratively and literally. Ok, maybe it was a big bag of chips or a chocolate cake. But you get the idea.
What most people don’t realize, is once you get off course with your food portions or budget, it’s hard to rein it back.
If you ate the whole financial pie, it’s equally difficult to recalibrate. Think about the last shopping spree you had or when you came back from an expensive holiday. You likely have a new set point of what you find acceptable to spend. And it’s likely higher.
Try taking a cooling out period from spending for a few days or more to reset you spending.
To discover more money traps and how to correct them, get your copy of Talk Money to Me: Save Well, Spend Some, and Feel Good About Your Money in stores December 17th and available at Amazon and Chapters for pre-order now.
As the Consumer Advocate for FP Canada, I know that financial literacy is paramount to your well-being. Equally important to your long-term success is working with a qualified professional. To find a CERTIFIED FINANCIAL PLANNER® professional in your area that will help guide you on all matters of money, check out this Find Your Planner tool.
FP Canada is a national professional body working in the public interest (formerly known as the Financial Planning Standards Council). FP Canada is dedicated to fostering better financial health for Canadians by certifying professional financial planners and leading the advancement of professional financial planning in Canada.