Retail therapy a good idea during the credit crunch?

By Guest • Apr 12th, 2009 • Category: Credit

We all sometimes go out shopping just to buy something when were feeling alittle low, but is that wise given the current financial situation? That ‘rainy day’ we saved for has now arrived, job are being lost left, right and centre due to downsizing and redundancy and we need to save instead of spend our pennies if we can help it.Im not just talking to the ladies, us men can be just as guilty. cds, dvds, games, some designer clothes- buying something for ourselves at a time when were feeling low can cheer us up. So theres nothing wrong with buying the odd dvd- but how many times a month do you go for retail therapy? 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?

200px GibsonLespaulStudioCaisse Retail therapy a good idea during the credit crunch?
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So would it be so bad to buy a expensive item once in awhile, or smaller, cheaper items more often? It depends on what item your purchasing -that Gibson guitar at £1,500 is now being left on the shelf when previously it wouldve been bought. Sure, its a Gibson Les Paul, but you can buy an Epiphone copy at a great reduced price and then buy new pickups if needs be- and still not reach that £1,500 mark. 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 is the sensible option -well, if your really desperately need the item, living off baked beans and pasta for acouple of months isnt going to kill you. Cutting down on luxury items to get that purchase can work out in the long run, teaching you money management. Making a list of items you ‘want’- not need, and getting one a month, spreading out your purchases over the long term can help. After all, how often are you going to watch that dvd over the space of a year? Does that night out on the town really require another dress just to go get drunk?

Just because were being more careful not to waste our money doesnt mean an end to fun, we just have to choose our purchases more carefully. No-ones forcing you to buy it but yourself.

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