I have to share something with you that I wasn't sure if I wanted to share, because I was embarrassed to admit it, but I thought some of my readers might relate. I was recently tempted to go shopping to celebrate my progress on debt repayment (I know, classic no-no!). I started adding ridiculously expensive items to an online shopping cart and before I knew it, the total came out to almost $2500. One of the biggest factors that stopped me from going on that major splurge shopping spree was thinking of my you, my lovely readers, and that I didn't want to disappoint you (or myself) by doing something so silly! It also occurred to me that with that purchase my net worth would not increase as much, and my debt payment wouldn't be as high, as I was planning for the following month. I must say, since starting this blog I've become much more disciplined and conscious of my spending. Just one of the side benefits of the blogging process.
So I wanted to thank you for your help and support. No matter how hard this process is, thinking of my readers is one of the things that helps keep me going on the right path.
Well I'm glad you showed some self restraint but what on earth were you planning to buy? Celebrating debt repayment is a fine in my mind so long as that reward doesn't make you go back into debt.
ReplyDeleteI think that all or nothing approaches either work great or fail miserably. I don't want to compare it to drug addiction since I can't imagine what that is truly like, but I think weaning yourself off of something is better than trying to go cold turkey and failing. I'm not condoning $2500 shopping sprees, but a little celebration is perfectly reasonable.
What if you found something financially responsible to splurge on? Like if you buy something that will help you cook more meals at home and save you money that way? Or even if it's spending on a gym to get you healthier? I find that spending money on stocks is exciting to me.
Thanks! I was adding shoes, a nice leather handbag, and clothes from an expensive online retailer's website (which I shouldn't have even been browsing through in the first place!). I think I was just feeling a bit deprived with most of my discretionary income going to debt repayment. I agree with you - it's hard to just stop altogether, so I am allowing smaller indulgences to reward myself along the way. It would be too depressing otherwise, especially in my situation since it's a marathon and I'll be working on this debt repayment thing for a while. I appreciate the wise tips! :)
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