99 Problems: Are You a Sort-Of Good Saver?

You may remember me (and other bloggers) mentioning the $999.99 giveaway. Believe it or not, the dollar amount is not completely random. There is a purpose for it. The theme of this giveaway is inspired by Shawn Corey Carter, a.k.a. Jay-Z. The inspiration comes specifically from the eloquent lyrics:

“I got 99 problems but a bish ain’t one, hit me.”

While I won’t hit you per se, I will try to throw out some constructive jabs. Over the next few weeks (the giveaway concludes at the end of February), I will ferociously write ninety-nine as many articles as I can focusing on the most common money problems people make.

Since February is an abbreviated month, let’s get started…

Problem #1

The Sort-Of Good Saver

Everyone knows that they should save. But, since American schools find it more important to teach cursive hand-writing over checkbook balancing, NOT EVERYONE KNOWS HOW to save.

The “Sort-Of Good Saver” describes a lot of peoples’ saving habits. This person is fully aware of the benefits of saving but what they don’t know is – where and when to find savings. Does this apply to you?

You are a “Sort-Of Good Saver” if you go to the grocery store and stare at 2 brands of toothpaste. Although you want the extra-strength whitening that one provides, you opt for the generic brand because it’s 10 cents cheaper. Your grocery cart is an accumulation of many 10 cent-savings and you get a HUGE GRIN when the cashier says, “You’ve saved $23 on your visit today.”

You then take your $23 savings and load your groceries into your 2012 Mazda 6 that you financed over 60 months.

Is this you?

Problem #2

The Transitive Saver

The “Transitive Saver” is similar to the “Sort-Of Good Saver” but differs slightly. The “Transitive Saver” is extremely conscious of the savings from purchasing X and intentionally uses those savings to purchase Y. The intent is what separates problem 1 from problem 2.

For example:

I LOVE a night consisting of dinner and a movie. While at dinner, an alcoholic beverage -or- dessert normally calls my name. As a saver, I know both the liquor and liqueur are ill-advised purchases. Because of this, I kindly decline and head to the theater. When I arrive at the theater, I determine that the $5 savings from dinner can be applied to a tub of popcorn at the movie – like a reward of sorts.

Do you intentionally use “savings” from purchases you don’t make to reward yourself elsewhere?

Is this you?

Readers: I hope you will be able to recognize some of your own flaws in the 99 Problems series. The first step to fix a problem is to acknowledge that there is a problem.