So far, my experiment has been a success, but I’ve had to tweak the formula a little bit. I wasn’t clear about what the “Bills” category of expenses includes. It includes:
- Bills that come in the mail, which if I don’t pay, will cause a collections agency to hunt me down
- Emergency expenses, such as medical bills
- Maintenance of lifestyle expenses, such as vehicle and house repairs
Additionally, I’ve started a spreadsheet of all of the things I want to spend money on but aren’t approved. I note the date on which I decided I wanted to spend the money. My plan is to give myself a 1-month mandatory waiting period between when I decide I want something and when I am allowed to actually buy it. I think that this safeguard will reduce my wasteful spending by at least 80%.
Bash said
>> I think that this safeguard will reduce my wasteful spending by at least 80%.
Looking forward to it.