Shopped Till I Dropped ! May 7, 2007
Posted by Vedis in : Credit Cards, Money Saving Tips , trackback
Could you believe that I have become financial consultant among my buddies ? News spread like fire after a few of them came to know that I have had my own blog talking about credit card debts.
One of them shared with me her problem:
“I love to shop. Especially when I have tough day or week at work, I like to treat myself to a new outfit or jewelery (diamonds are my favorite).
My husband recently scolded me - he says I have too many clothes an jewelery already. A couple times I bust my credit limit but luckily, he helped to pay for me. But he’s very unhappy and it has strained our relationship. I know I have to do something about it; how can I curb my shopping habit ?”
Does this case sound familiar to you ? It does to me. I believe a lot of women (some men, too) have had the same excuse (when I have tough day or week at work, I like to treat myself to a …)
“Retail therapy seems to be a common way for us to unwind or beat stress. But in all things, we should do it in moderation. From a financial standpoint, we should always strive to spend within, or even under our means. It is good that you realize you need to do something about it and I have a few suggestions for you.”
“Oh, please ! Vedis, stop acting like a financial consultant. Just tell me your suggestions.” interrupted my buddy.
My suggestions (which I have been using) for her:
1. Cut off Some of the Credit Cards. Keep 1 or 2 cards. By canceling some of the credit cards, you can avoid adding extra charges in future.
2. Avoid Shopping Centres. Avoid the place that give you the greatest temptation. Tell your hubby and your regular shopping buddies of your decision and why, and instruct them to pull you aside when you next exhibit that “craving” !
3. Pick Up Other Leisure Activities. Seek out other modes of beating stress; it could be kickboxing, dancing or a gym package. Get your buddies involved or make it a couple bonding activity. Besides getting that workout much needed by urbanites like us, it will most likely be less harmful to your wallet !
4. Plan for Your Longer Term Goals. Most people need to have a reason to curb that spending and start saving. Start planning with your husband about long-term goals like your desired retirement lifestyle and/or your children’s tertiary education funding.
What about you ? Could you share with me your suggestions ? I bet you have better tips and advice that I have not learnt. Thanks for sharing on my blog.
Comments»
I think you should be a financial consultant, you are already helping people out financially! Thanks for your efforts; your site is always a good read!
Thanks, Court, I am flattered..;D
I hope that by the time I settle all my debts, I can claim myself to be a real financial consultant.