Death by a thousand cuts is an idiom used to describe financial failure brought on by many apparently harmless actions that taken as a whole cause complete financial demise.
Wants often are the "cuts" that kill our home economy. Any want can become a perceived need if we aren't careful. And once a want becomes a need we spend money on it because we are compelled and even feel entitled. Becacuse wants are endless we subject ourselves to multiple cuts when we fail to control them or treat them like needs.
Examples:
- A soft drink can't sink a budget, but a soft drink each day for a year could bust a budget, especially if each family member duplicates the consumption pattern.
- A 25 cent cigarette is too small to harm any budget, but a pack of cigarettes costs over $1,800 annually.
- Bargains can sink a budget if you buy too many unnecessary things simply because they are on sale, "I had to buy it because it was on sale!" Don't be a person who has a home full of useless "bargains."
- Fast food is rather inexpensive unless you eat fast food often. Fast food 4-5x a week can cost over $2,500 annually for two people.
- (Your example here)
At dinner several years ago a lady told the other guests that she shopped at Walmart multiple times every week! She told us that she didn't need anything in particular, but it was fun to shop for the thrill of it. Her husband made a lot of money, but everyone knew he could never make enough to compensate for her shopping habits. She was killing her family with a thousand cuts.
How have you been able to stop some of the "thousand cuts" in your life?
(Photo courtesy FreeDigitalPhotos.net)
Recent Comments