Overcoming my Shopping Addiction

Right now as I type there is an online sale at the Coach Outlet.  These are invitation only sales and they have them less than once a month.  70% off and I drool.  I look, I peruse, and decide I need a wristlet and I wrestle with which to buy.  Size, features, color, oh I really need one....I don't.  I don't need a wristlet!  Yes it would be convenient I could keep my personal things separate in my book bag...but is it really necessary.  I already managed to buy a new purse masquerading as a school bag and then found it too small and of course instead of returning it, I used it, but not before trying to sell it on ebay and make a few bucks.  I later managed to buy a new book bag, at 40% off of course,because I am after all a student and make less than $1200 a month, but I am still stuck in the years when I made $70,000 a year and could afford nearly every little thing I wanted.  Welcome to the recession.

Needless to say, I have learned to curb my shopping addiction, mostly through necessity.  See I could buy a wristlet and no, it wouldn't kill my budget because I hardly spend any money.  That is just it, I only buy what I need....Do I need a wristlet?  Heck no!  Over the last year I have taken some words of wisdom that have allowed me to choose when I spend my money; instead of being overcome by wanton desire for items I never even knew existed before I saw them. Ask yourself these three questions:

Do I need it?  Do I, do you?  90% of the time, No!  They only thing you need is food, shelter, and clothes, and maybe some other things to help you provide those needs.  So if you ask yourself if you need it, no justifications, that knocks most of those purchases out of the ballpark.

Can  I afford it?  This could get most people into a world of trouble, because yes you can.  Change your thinking to long term, not just how much available room you have on a credit card or money in your bank account. What is the opportunity cost of purchasing this?...you could be putting that money to your child's future or your own.

Is it practical?  What does practical mean?   Well you need mini questions here, will you use it, is it useful for a long time, in all seasons?  This is the most flexible of all the questions, because practicality is defined by how we live our individual lives.

So there you go the three questions that have helped me curb my shopping addiction and become a more frugal consumer in these tough economic times.  Use them well!