Is retail therapy a good idea during the ‘crunch?
We all go out shopping sometimes to get something when we feel miserable, but with todays financial climate, is that a good idea? Now were being told our jobs arent safe with downsizing and redundancy, that rainy day we all save for seems to be arriving.Im talking to the other men to, not just the women. cds, dvds, games, some designer clothes- buying something for ourselves at a time when were feeling low can cheer us up. Nothing wrong with buying the odd dvd at all, but how often do you get that urge to spend a month? More than a couple of times a month can start to take its toll on the wallet. The latest dvd release can cost anywhere between £9-15, and you buy one a week, that 4 a month, which will costs anywhere between £36-60- it adds up doesnt it?
So would it be so bad to buy a expensive item once in awhile, or smaller, cheaper items more often? It all depends on what your buying -A Gibson guitar can cost £1,500 might now be left on the shelf where before the recession it wouldve been bought. Your paying for the Gibson brand name rather than the guitar and their Epiphone range can have new pickups fitted in an still not reach that £1500 tag. Those designer dresses that catch your eye really need buying -when a cheaper brand can look just as great, with no-one but the fashion police none the wiser. So what are the options? If you really cant live without the item in question, eating just baked beans for the next few montsh wont kill you. Cutting back on other luxurys to get that item might not be a bad thing seeing as your compensating for it in the long run. Write down all the purchases you WANT, and get one a month and make those purchases last longer. How often do you play that dvd over the space of a year? Does that night out on the town really require another dress just to go get drunk?
Dont be put off buying want you want, just put some more thought into what you buy. No-ones making you buy the items but except you.
Filed under: Financial Advice