Spending Too Much on Unnecessary Things: Consequences

Topics: Economics

For many people, the fear of spending too much money on things they really don’t need unfortunately become realities, and as a result, they tend to struggle financially. Spending too much money can be dangerous in many ways, especially with the changes in the economy, It can reduce the amount of money one saves, as well as hut them when trying to buy important things like a car, a house or damage repairs. The consequences of spending too much money has made people realize how serious the problem can be.

This is where creating a budget comes into play, and it is one tool that has helped people get back on track financially. For me, creating this one week expenditure chart has showed me many interesting things about how and where I spend my money when it comes to leisure activities.

The categories that I chose for my spreadsheet reflected the kinds of leisure things I enjoy doing as well as important things that I purchased to allow me to pursue those leisure activities.

Although I chose multiple categories, the top 3 that I participated in the most and will be evaluating in this paper were social fun, which included things like going out to eat with friends, or meeting up at a local bar for a few drinks. Travel/outdoor activities which included things like fishing, hiking, hunting as well as any items that I may have had to buy like day passes. Entertainment was my third top category, which included things such as drive in movies, movie theaters, shows, etc.

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Looking back, I noticed that most of my money for that week was spent in both social fun and entertainment, which doesn’t surprise me at all. l have always enjoyed going out with friends, whether it be to the movies, or a baseball game I would much rather be out and about enjoying life, with the best of friends then be home watching TV by myself‘ Finally, this activity has allowed me to see what exactly I enjoy doing with my leisure time, as well as how well I can both manage my spending and whether I tend to spend money on unnecessary items.

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Spending Too Much on Unnecessary Things: Consequences. (2022, Oct 20). Retrieved from https://paperap.com/what-are-the-consequences-of-spending-too-much-money-on-unnecessary-things-in-life/

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