Money Pit?

12 03 2012

What’s your money pit?  Do you like to eat out, play golf, go to the spa, shop, etc?  We all have something that we can consider our money pit.  What’s yours?  What can you do about it?  These are just a few questions that should be asked regularly.  Why?  I think it keeps you in check with reality, and gives you a clear picture of exactly how much money you are feeding into the “pit!”

For me, I have a few things that I would consider my money pits.  So if you only have one pit, consider yourself lucky!  I have two pits burning a hole in my pocket.  #1 is my vehicle obsession.  I change vehicles too often, and it doesn’t stop there.  I enjoy modding my vehicles.  Here is a picture of my 2007 Mini Cooper S that claimed a lot of my cash.

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After that car, I had a BMW 135i which I didn’t do too much too, because it was too dang expensive!  Now this is my current vehicle pit.  A 2012 Jeep Unlimited Rubicon.

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On top of the vehicle pit, I also really enjoy my Xbox 360 games.  A $59.99 game doesn’t seem bad, until you look in your entertainment center and see 15-20 games.  Yes they are purchased over a period of time, but that is a lot of money when you think about it.  My recent favorite game series is Assassin’s Creed.  I have loved every installment and look forward to Assassin’s Creed III.

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So what would you put in your “money pit?”  I enjoy the item’s in my money pits, but have tried to be more aware of the cost associated with those hobbies.  In so doing, it has given me a better view of where the money flows.  Having hobbies is important, because it gives you an arena for you to enjoy something special to you.  But the point being, don’t let it get out of your grasp and start costing you too much.  Set limits, and find ways to save for items you would like.

I am constantly trying to reteach myself some of these things, because let’s be honest….I enjoy spending my money!  I only know a few people that don’t have that same problem.  Are you like me, or are you what I call a saver?


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