In This Economic Crisis: How Good Is Your Math?

Sheri Reed
baby, money, cash

Photo by shaylas_mama

Great article titled "Failing Home Economics" over in the NYT, which talks about all the ways families make semi-freaky monetary choices for their household budgets under the stresses of a poor economy.

Some of us do things like find a great price and buy the item in bulk, in quantities far above that which we need or will ever be able to use. Or we drive miles out of our way to save a few bucks on a deal or we buy the sale item just because it's on sale. According to the NYT article, we even buy unnecessary items like big screen TVs at Wal-Mart (yes, it's true) under some twisted perception that we're saving somehow. Strapped with denial and fear, we spend in the name of saving. It's bad math really.

From the article: Says Carol Prisant, American editor of The World of Interiors magazine: “Some people will obsess about drops of detergent and others will want to buy in massive quantities. This is the moment when we all sort of mildly crack up.”

Which way do you go? I think I definitely do a little of both.

+++ Ever caught yourself doing this kind of bad household math? Tell us your budgeting mistakes and/or how you've learned from them?

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