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Like any other warm-blooded woman, I adore shopping. But I also write passionately about personal finance. Can I do both at the same time?
I don't see why not.
You see, I have come to terms with myself that I will always like shopping. Blame that on reading Clueless books in 6th grade. For me, budgeting and saving will be futile if you feel you're being deprived. I think it will just cause burn out, which leads to quitting.
Just like in a diet where you sometimes go on cheat days, I believe it's healthy to occasionally spend on ourselves, too.
That's what I do. But if I want to be financially wise about it, I should know the right way to shop.
First, here are the things that I think shopping is not:
1. Retail therapy
I think considering shopping as a form of therapy only justifies the desire to spend haphazardly rather than wisely because some will say it's more expensive to see a therapist.
Reality check: heartbreak heals on its own, a debt doesn't.
2. Impulse
To avoid spending your hard-earned money on something you don't like, wait before you make a purchase. Some people sleep on it, I wait for weeks, even months. It's long enough for me to realize I don't want - or need - it anyway.
A mistake: I bought a pair of Zara sandals, which I don't use because it's not toddler-friendly.
3. Pastime
Full confession: I've been known to buy books while waiting for someone. However, I do avoid buying something pricey or outside my budget just because I'm bored.
4. A way to keep up
Be fair to yourself. Only buy something that you truly want. If you're only pressured to buy it to follow the trend or to impress someone, I think you'll just regret making the purchase. And the person you're impressing - or competing with - may not care at all anyway.
So what is shopping for me? Contrary to being therapeutic, I buy things for four reasons:
1. I'm happy and want to celebrate.
For example, after getting my certificate as a Certified Sales Person for Real Estate, I bought myself a new Asus Zenphone 4. Take note, though, that it was as not an expensive phone, and the last time I bought a phone was November 2012.
2. I really like something.
Sometimes, I like something for myself, but more often than not, I like something for someone else. For example, I really enjoy buying things for Yuri: toys, clothes, shoes, and food.
3. I have extra money.
This is quite tricky because I know so many people who got into the habit of spending with money they don't have. What a surefire way to bury oneself in debt. I'm allergic to debt, so even though I really lile something, I wait until I finally have the extra money to spend for it. This means the remaining money after the tithes and bills have been paid and the savings and investments are updated.
4. I see a practical buy.
I just spent more on bags than on my phone. This is because nowadays, it's more difficult to find high-quality bags than cellphones. I feel more confident buying an affordable phone that contains all the features I want as long as it is made by a big company and receives favorable reviews. However, for bags, I can't settle for cheap, leatherette ones that will break in weeks because they don't give me value for my money. That's only my own opinion, though.
Also, if I really need or want to buy something, I will exhaust my options to look for the cheapest selling price.
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So what about you? What's your take on shopping wisely?
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