Are you a spender or a saver? An impulse buyer, or a scrooge when it comes to spending? Develop self-awareness about your budgeting and spending habits by considering these points:
1. What are my long-term financial goals? Why are they important to me?
2. Which financial goals am I now meeting? Which ones are not being met?
3. What specific behaviors must I adopt in order to meet all my financial goals?
4. What are the benefits to my current spending habits? What are the drawbacks?
5. What do I like about gift giving? What do I dislike?
6. What am I most likely to buy on impulse?
7. What makes a purchase worthwhile? What makes a purchase wasteful?
8. What is my definition of “overspending”?
9. How do I differentiate luxury and necessity?
10. What did I learn about money growing up that I now think is true? False?
11. What rationalizations do I use to justify overspending?
12. What would have to happen for me to be able to stick to my budget?