Saturday, September 29, 2007

Is shopping destroying your life?

In my last post I talked about the importance of having a monthly budget.

The shopping industry has grown, and there are many exciting outlets as well as many eye-catching flashy brands pf everything to choose from. Anyone who has even a little money will be tempted to go shopping. With women it may be buying the latest shade of makeup and with men the newest electronic gadget in town, or vice versa, no stereotypes intended. But most of the time, the items we buy on this kinds of trips end up sitting in our cupboards for eons without ever being used.

If we make a habit of shopping this way every month, what happens to our savings? Well, nothing positive. We are left with a big dent in our bank accounts, and a lot of unnecessary items in our closets - nice, but unnecessary.

Shopping needs to be restricted to only the things we need and also only to specific schedules. This way, you can keep a check on what you are spending monthly and can also put aside some amount towards savings.

When you buy things, you can schedule them for occasions, and can plan and put aside money every month for this purpose. Buying only essential things is a very important habit to develop. After you have saved enough money, and have planned your spending intentionally, you can buy luxurious things.

Don't just buy things to buy things. Think about what you're buying. Give it a day or two, and then come back to it. You may find the urge to shop is less and the item doesn't look as important as it did before.

I am going to be talking about the perils of impulse buying in a later post, but for now, think about your shopping habits, and if they are destroying your life. Do you have a shopping schedule?

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