Stupid Tax and The Audit

Ever heard of Stupid Tax? If you've ever listened to Dave Ramsey, you know that Stupid Tax = Mistakes made with dollar signs on the end. Well, in The Ultimate Cheapskate's Road Map to True Riches Jeff Yeager has a similar exercise called, "The What the H*@! Was I Thinking Audit".

The purpose is to learn from your mistakes, acknowledge them, then take corrective actions to avoid them. By analyzing your past spending habits, you might notice trends you didn't realize before--more spending in certain categories more often than others (ie-clothes, technology, eating out etc), or regrets from purchases at some stores more than others. Ask yourself if you could do it over again, would you buy that?

If at the end you can identify certain areas you have problems with, then create a "What the H*@! Was I Thinking" list to carry with you in your wallet. Just seeing it when you're trying to whip out your moolah might be enough to keep you from making another silly money mistake!

For the complete how-to steps for the audit, read The Ultimate Cheapskate's Road Map to True Riches.