What's Your Budget Black Hole?

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For teenagers or just anyone in general, it’s always extremely difficult to save money. Sure, it’s easy to talk about it or learn about it in class and think it’s a good idea.

But actually doing it? That’s a completely different story.

We are very impulsive creatures and there are all sorts of reasons why we spend money without thinking about it, or without caring at the moment about the consequences of it.

It’s so easy to spend money to “fix” a bad day, or a bad mood, or just to distract yourself from reality for awhile.

When you realize you've run out of money, you may regret your decision. The knot in your stomach begins to tighten.

I’m sure you’ve all heard of black holes.

But did you know that black holes and budgets go hand in hand?

According to the blog Budgets are $exy, “According to NASA, some of the hallmark characteristics of black holes are invisibility and varying size. They literally can’t be seen, and can be sized anywhere from a puddle to a sea.”

If you're having difficulty sticking to a budget, or saving your money, you may be unaware of your budgeting black holes!

So that’s where it all goes!

No, there’s not really a black hole in your wallet, pulling your money into another universe! You are the one sucking it out, and most of the time without even realizing it. That's why it's important to learn how to keep track of your spending.

Budget black holes can be caused by anything! They can be anything from you’re daily latte purchase, to impulsive book buying, to eating out, and taking trips to the movie theater.

They may be areas in which you think you may not spend a lot of money and, therefore, don’t worry about, but they become black holes when they go uncalculated. They add up, and BOOM! Suddenly you’re hit with a reality check. You’re broke!

Once again, the above mentioned blog, http://www.budgetsaresexy.com/2014/01/black-hole-in-your-budget/, says “the key is being able to spot these black holes, and knowing the size of them.”

Therefore, find out what they are and keep track of them to save yourself from the horrors of being broke!

What are your budget black holes?

Find out what they are! PAY ATTENTION to ALL of your purchases, especially the “little” ones! If you find that you’re always broke a few days after pay day, then maybe occasionally skip the coffee or trip to the movies. Don’t give them up, just learn when to put spending off for another few days, making it even better when you do buy something (and you’ll be guilt free)!