As we all struggle to manage our debt in the most effective way possible, our good intentions sometimes evolve into a difficult endeavor. Especially if you are a female inflicted with the all too common decease called the Shoe Addiction Syndrome aka Shopping Addiction Syndrome (SAS). I am not really qualified to give advice in this department; I too suffer severely from SAS. However, I have compiled a list of strategies that I have employed in recent months that seem to be working at this point in time. So, if like me, you are still in deep denial, have decided against therapy and are in-fact desperately trying to rehab yourself. Here are some pointers that may help you in your fight against SAS:
1. Do not walk around with a lot of cash, set a weekly budget for yourself and stick to it. If you have no extra money, you will be less prone to spending. I allocate $200 per week to myself, $150 for gas and $50 for lunch for the week. If I take lunch once or twice per week, I adjust my budget accordingly.
2. Leave your credit cards at home. However, if like me you have impeccable memory and too much time on your hands – tip #2 may not work for you. I have the unusual gift or curse of being able to memorize a lot of numbers and store them in an organized manner in my brain. I have memorized the DOB and SSN numbers for myself, my three kids, my husband, my dad, my mom, my sister and all five of her children. And I can recall most of my CC numbers, all from my memory bank. So in addition to leaving my CC at home, I stay clear of shopping websites and unsubscribe from their promotional emails. I also discovered that more than a few of my favorite stores will allow me to use my ID to pull up my CC information. So, I painstakingly avoid these stores as well.
3. Don’t get duped into sales, you will end up spending more than you save. If you do want to take advantage of sales promotion on one particular item. Take only enough money to purchase that one item or give your-self a reasonable buffer. If you do not have the money to spend, you will not overindulge.
4. If you are a serious SAS, it will be difficult to quit “cold turkey”. Therefore place a limit your shoe purchases, try purchasing only one per month. That is still 12 pairs of shoes per year. Analyze your needs vs. wants, identify your must haves and then shop around and plan your purchase carefully. Get the best value for your money.
5. Lastly, re-shop your closet. Do not run out and purchase a new outfit for every occasion. Try to pair new items with existing pieces from your closet. If you are not much of a fashionista, visit our “Frugalnesta” page for great ideas on how to look fabulous on a budget and re-shop items from your closet.
Feel free to share some of your own strategies in our comments section below..........
Money Talk with Nadia
Accounting & Tax professional with ten plus years of managing personal finances and debt elimination for various income levels. But my greatest experience comes from being a single mom on a tight budget who was still reaching for the stars.