Sweating the Small Stuff

At just a few bucks a pop a daily coffee from the shop or a weekly manicure seem like they can’t make a serious dent in the family budget. Unfortunately they add up fast. “We spend what we have” says psychotherapist Mordechai Weinberger. “Whatever you make you’ll never have enough; you’ll always spend it.”

To avoid blowing your whole paycheck Mr. Weinberger suggests separating savings before you start spending. “Pull out some small amount every month and make do with the rest. Similarly don’t spend your whole bonus or tax refund; put some away or invest it.”

“People lose track of all the items they spend on” agrees financial and accounting consultant Ezzie Goldish. “It’s better to write it all down and track your spending.”

“You know the most expensive item you’ll buy at the grocery?” asks Josh Hurewitz director of theBaltimorebranch of Mesila which helps Jews improve their financial stability. “It’s the item you make a special trip to buy — you’re spending time which you spend money to save in other areas. If you have only six out of seven ingredients don’t make that recipe — find something else for dinner or avoid the problem by making menus in advance and planning shopping trips.”

In fact organization and planning are key to keeping costs down asserts Mr. Hurewitz. Shopping with a list and stocking up on nonperishable essentials cuts down on unwanted runs to the store. Look down the road for upcoming expenses like school or camp registration fees. “People like to say Yom Tov pays for itself” Hurewitz says. “But you still have to anticipate it! Start putting money aside in Iyar for Tishrei.”