This will serve as my reflection to my past mistakes financially. Especially when I was a shopaholic. This day is marked as my “Freedom” day because I am finally free of debt and addiction to shopping.
It has been more than a month, and I cant even remember the last time I had that “impulse” buy. Yes I had money to spare, but I had finally gained the control over myself not to buy what I don’t need. You can read my story and some tips below, and hope you can share to me your struggles or achievements as well.
biggest money mistake was I never saved until now that Im already married with a kid.
When I was single, and had a normal salary, lived with my parents. All my money went down the drain with clothes, cosmetics, shoes, bags and dining out. Then most cosmetics I didnt get to use, or expired na lang din. Or sometimes impulse buys. 2 years of working back then and 0 savings. How did I get back on track?
- When I get an itch (yes shopping addiction is like having this itch that wont go away, but eventually does even without scratching it) or urge to buy something in a store, in an online shop or in everywhere. I give myself a time limit. If within a week I still want that thing, I will get it, but if not I wont. To be honest, the itch goes away in a day or two.
- Walk away from pushy SAs or ask them to leave you be when you are browsing in the mall. Pushy SAs make you feel like you need to get something from their store. Even giving you free makeovers that in their lighting and mirror makes you look super fine but under natural lighting it doesnt even match your shade!
- Try before you buy. Curious about something? Save and try it by politely asking for testers.
- Bring only enough cash in your wallet and leave your ATMs and Credit Cards at home (no, dont use the need cash for emergency excuse.)
- A Project “No Buy” (warning, for those with brave hearts only)
That will not happen again. Even if I blog about makeup and fashion, I realized I did not have to buy every single item that needs to be reviewed. I should just get what I need and not what I want. Buy what I would use and not just store.
Sure enough most of my readers can probably relate to the situation, and I really hope deep in my heart you can outgrow this disease sooner than later.
I’ll be smarter with my finances now that I have a family of my own. I plan to put 25% of my income in savings and 25% in investing.