Interview with Joe D.

Joe is a recent graduate from Temple University's School of Business. He is currently working Full Time at the Police and Fire Credit Union. He feels that he spends too much of his money going out on the weekends. This normally includes buying drinks at bars/clubs and going out to dinner. Since he usually goes out with a large group, he cites his friends as the main reason for his over spending. The majority of them are less conservative with their money (especially once the alcohol starts taking effect), so he feels pressured to spend as much as they do in order to be able to keep up with them. If one of them buys him a shot, he feels obliged to buy one back, regardless of whether or not he really wants it.
For Joe, spending too much doesn't necessarily mean spending above his limits, its really just a matter of spending more than he would like to. Essentially spending a larger portion of his paycheck than he feels is necessary. Working at the same bank where he keeps his own money allows him to be more aware of his accounts than most people, but he said that still doesn't really deter him from spending less. The only technique that he has found helpful enough to use is placing a portion of his money in accounts that would assess penalties if money were withdrawn from it too often.
Joe has pretty simple short-term and long-term goals. He basically just wants financial stability and comfort throughout his life. A life that he would soon like to live in a new house he plans on buying in the next couple years. If Joe were able to reduce his overspending, he would most likely use that extra money for his next vacation. A vacation that he would go on with his good friends and not his girlfriend because his friends are more fun than she is, so he would have a better time with them.