Champagne Taste and Beer Money

Posted: June 7, 2012 in Finances
Tags: , , , , , ,

“Champagne taste and beer money” is a phrase I’ve heard my mom use over the years. This describes people who have expensive taste but don’t have the funds to back it up and continue to live as though they do. Once again I’ll say there is nothing wrong with having expensive taste. I have expensive taste when it comes to certain things that I like (shoes, jewelry, even snacks).

However you won’t ever see me catching overdraft fees because I just had to have that new pair of Coach shoes. I don’t think it’s necessary for me to make a charge to my credit card for that extra bag of Pepperidge Farm Geneva cookies because I didn’t have enough money on my debit card. This is when it becomes an issue. In simple terms it’s called spending beyond your means.

It kills me to see people spending all their cash and running up their credit cards to buy the latest fashions, newest electronics, flashiest cars, etc. but can’t afford to buy one drink when they hit the club. They have no food at home in their fridge. Then you have the ones who spend all their money on fancy restaurants and takeout food and party time. All the while the rent is past due and bill collectors are blowing up their phones.

What is the point of having the latest cell phone if your cell phone is constantly getting cut off because you didn’t pay the bill? What is the point in buying an Escalade if you can’t afford to keep gas in it? Why are you buying your child the most expensive name brand gear but can’t come up with the money to buy his/her school uniform or tuition? My people, my people, my people! We really need to start prioritizing! Why not start budgeting and sticking to that budget now, pay off your debts, so you can ball out a little later? Spending more than you make so you can keep up with everything that’s “in” is only going to keep you in the same spot. It’s going to make it hard for you to ever get ahead financially.

On the other hand, if all you care about is how you look to other people and being up on what’s “in”, then by all means continue living in your debt-filled life. A few people might notice your pricey Escada blouse or your Louis Vuitton bag (or whatever brands people are keeping in business these days), but I can almost guarantee a hell of a lot more people will notice when you’re hungry or homeless.

“My problem lies in reconciling my gross habits with my net income.” ~Errol Flynn

“There are plenty of ways to get ahead.  The first is so basic I’m almost embarrassed to say it:  spend less than you earn.”  ~Paul Clitheroe

  1. donationcan says:

    I see these situations play out every day. It baffles me.

  2. doogen says:

    Love the post! Funny that we’re both taking on being more financially responsible at the same time. Would love to have you write a guest post sometime about it–what do you think?

    • Just Jewel says:

      That sounds great! We can guest post on each other’s. Just say when 🙂 ! I change my blog topics monthly so if you would like to guest blog on some aspect of finances this month, that would be great.

  3. thabutcha says:

    The best are the people who buy hundreds of dollars of groceries with an access card while wearing Pink and Coach… Your post is right on the money!

  4. Canadian Performer's Money says:

    I don’t buy trendy things, I buy STOCK in companies that sell trendy things! 🙂

  5. I completely agree with you. I had a friend always make fun of me for being cheap but in the same sentence would tell me how both her and her husband barely have any money.

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