Being a spendthrift and how to get over it

October 4, 2009 – 11:14 am – No Comment

mall

A spendthrift is someone who spends money; a lot of money and it can be considered wasteful the way he or she spends it.

Have you watched the movie Confessions of a Shopaholic? I watched it a couple of weeks ago, and while my shopping habits haven’t really gotten THAT out of control I have made a couple of splurges in the past that I know haven’t been the best shopping decisions.

It can be difficult to go from being someone who buys what they need and picks up a few extra things as well to someone who buys the bare minimum of what they need from the grocery store, often foregoing their favorite brands for the cheaper, generics, brands that are on sale, or the brands that have the coupons out that week.

The best, and easiest way, in my opinion, to go from someone who spends money to someone who saves money is to watch the flow of cash out of your bank account, closely. If you can watch that balance drop, then you are going to be far more likely to put down the debit card and head for the door.

Of course, there are times when shopping is more of a habit than a hobby and sometimes you may actually need to talk to someone about your “problem.” In the movie I was talking about earlier, there is a scene toward the beginning when the main character, who has maxed out her credit cards and can’t pay the bills, sees a really expensive green scarf on a mannequin and the mannequin starts talking to her (in her mind). The mannequin tells her that she needs the scarf and somehow she pools the money together to get it.

Thiis is just one example, even though it is a fiction example, of how shopping can actually become an addiction.

My biggest tip that helps me though, and I know I’ve said it a million times, is to MAKE A LIST. If I have a list, I won’t spend as much. If I have a list, there is a lesser chance that I will bring home things that are not on the list. If I make a list and arm myself with coupons, my savings are even greater (however, you have to remember not to buy something just because you have a coupon, make sure that you need it).