I can put a whole new meaning to being frugal, sometimes. And I’m proud of it. Unfortunately, the golden dust of stinginess can wear off so quickly because the next minute, I can be the worst spendthrift on the planet. Have you ever been bitten by these financial mood swings?
Here’s an example. I love my more than 10-year old Esprit wristwatch. I bought it with money I earned from my first award as a journalist back in 1997 (and I mention that here only to explain its sentimental value). In a moment of extreme klutzness, it fell from a super-high tower rack and it stopped working. The face was a mess of broken glass.
In a normal situation, I would have loved shopping for a replacement. This time, however, I was moping about in the mall, not excited to buy a new one. I kept telling myself that it’s more than 10 years old, for heaven’s sake. I deserve to buy one with a spiffy new design or a classic Omega-like look, you know?
I got it back for P500, including an P80 tip for the guy who fixed and cleaned it. The sturdy Swiss parts saved me P10,000, but that means I’m still wearing what I wore as a cub reporter.
Turn back the reels to the previous scene. Hubby and I decide to buy some beach shorts from Landmark department store. Most expensive pair of beach wear I ever saw at P4,500. Before we knew it, I had decided that he also “needed” two new shirts, I “needed” new clothes, the kids “needed” new shuttlecocks and Speedo goggles. Err… and this example is pretty tame.
One moment, extra stingy I could put Ilocanos to shame. Next, total spendthrift. Solution: self-awareness.
Mindless impulse spending starts when self-awareness ends. Who likes to feel deprived, after all? Who likes to be the country mouse in the big city? Who would choose to keep P30,000 untouched when it’s a bonus from a job well done? A little pandering to the latest fashion trends won’t hurt! I will pay that credit card bill next month, honest! (Yeah, right).
Ideally, every time we open our wallets we should be thinking, not feeling. But that’s easier said than done. That’s why consistency in frugality is difficult to achieve and we’re often caught between money mood swings that raid our bank accounts and our peace of mind.
Tempering money mood swings is a worthy goal, however. In the beginning, we might need tricks to bear down on feelings of deprivation, like taking one small bite of chocolate instead of mindlessly digging into a whole bag of Kisses chocolate.
If the mood swings are volatile, keep trying. Let’s use incentives and remember to give ourselves time in the hopes that soon, just the mere fact that we have been consistent is all that we need to feel satisfied.
July 2nd, 2008 at 5:44 pm
I’ve been quite good lately in resisting the urge to buy high ticket items but I’m really bad for small items (e.g. new blouse) especially when I try to justify it by saying - “one blouse is okay, it’s not gonna hurt my budget. When bills arrive, then I would realize, I could have saved that amount so I can buy the high-ticket item that I’ve been dreaming for months.
July 2nd, 2008 at 5:29 pm
i can totally relate salve!
although im pretty cheap when buying clothes, i can be a super spendthrift on bags and shoes. and other stuff esp when buying over the internet hehehhehe…
i guess one should just consider the bottom line: the total spending/splurging vs the targeted savings.
July 2nd, 2008 at 3:29 pm
money mood swings, something I really don’t have. my only luxury really is my pricey camera. I agonized spending P60k for it for quite some time but I rationalized that I’m also preserving memories in the form of pictures of my travels.
I guess it has something to do with my childhood where I grew up not as “lucky” as other kids. I looked for ways to earn money just to buy myself a pair of pants and shoes when kids my age are just playing. I only got a simple wristwatch when I started working.
regarding speedo, it’s popular and pricey but not the best there is. there are better yet cheaper alternatives to that brand particularly goggles and snorkeling masks.
my philosophy is this: anything that I don’t need, at any price, is expensive. I only buy signature brands when there’s no cheaper alternative at the same quality.