What’s Your Spending Limit?
Do you have mental spending limits for the things you typically buy? I do. Back when my then-husband and I were newly married, I used to save all week so that I could splurge on something I really enjoyed.
Getting a chicken sandwich at Dairy Queen. I never got a drink or fries to go with it, and only occasionally had enough to add a sundae too, so my total was usually something like $2.12 for the meal. Even today, I hardly ever spend more than $5 when getting fast food for myself.
That’s my limit in that area, because anything more than that seems horrifically expensive. Even though I recently paid $155 for a custom-made pair of jeans. (Ouch, but oh how nice it is to have pants that fit correctly for a change.)
I know that my giant gap in spending limits is illogical, but how we feel about money is rarely logical. Maybe it makes sense in an absurd kind of way.
The point is, we all have limits that we don’t like to go beyond when it comes to buying things. There are stages too, ranging from “I wouldn’t give it a second thought” to “you’re crazy if you think I’m spending that much!”. Taken together though, they make up the way we spend our money.
So what are your spending limits when it comes to common items like cars, mortgage/rent, jeans, and quick lunches out? Are they as based on your financial history as mine are, or do they reflect more of your current situation?