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 3rd, 2008 at 8:04 am
When it comes to office clothes, i noticed that buying branded items seems to be worth it than buying in the tiangge or SM / Robinsons’ house-brands
I had an inventory of my closet lately, and those that i bought in bazaars and tiangge, dilapidates quicker, or really looks cheap in a few months time.
But the stuff that i bought in Zara or Mango, albeit, on sale, still retains their beautiful colors, and the styles are unique, that i still get compliments whenever i use them.
They’ve been with me for 2-3years already, and still look great.
So, I’ve resolved to minimize buying from tiangge, Except of course those stuff that are branded-overruns that i use as pambahay… and really just save the money, for pieces that are lasting.
July 3rd, 2008 at 7:55 am
that’s a classic one Salve!
what I’ve been trying to practise for months is to set aside 10% of my earnings for savings once I get my pay cheque. whatever is left will be disposable income: rent, money to remit back home, food, utilities, phone and internet bills, entertainment, and maybe a bit of splurging on clothes and kikay stuff. but priority is always food, i don’t want to starve myself so I can buy the latest gadget on display (hey the second largest Apple store recently opened here in Sydney).
I was a spendthrift too, when I was still working in Phils. I was living from pay cheque to pay cheque. But when I started earning in dollars, I splurged - buying things I don’t even need. Now my problem is how to pack and bring my things with me. Because of work, I have to move around, from city to city, from one country to another. I have to live a suitcase life.
Now, that’s a lesson learned for me. The next time I see the cashmere cardigan on display, even if it’s freezing here in Sydney at 8 degrees, I would think twice buying it. I already have enough clothes to keep me warm anyway. And who knows where I will be going next, maybe in hot, humid city such as Dubai.
July 2nd, 2008 at 10:51 pm
Some people feel embarrassed about returning store-bought items. I return items after I come into my senses – after all, I will be the one stuck with the unwanted item and the bill. Just make sure to keep the bill and for goodness sake, do not use the items, and return the item within the prescribed date allowed for returning. Last night, I walked into a store with the sole purpose of replacing my ancient cell phone with another basic feature phone. I ended up with a blackberry device whose data plan I may never use. After the buyer’s remorse this morning, I am returning it tonight after work. I don’t care about the snotty look from the salesperson whom I may never see again in this lifetime anyway
July 2nd, 2008 at 8:44 pm
babae nga naman…am guilty, too! i have been a “good” girl for the past months - no splurges on clothes, shoes, bags; regularly setting aside money; no starbucks/figaro/seattle’s best coffee…tapos, na-discover ko yang online buying (@g, i can relate)..ginoo! in a wks’ time, i bought 6 bags! do i need them? of course not!
and re chocolates, i do try not to eat too much bec i’m watching my weight; but, when that bag of M&M’s is beside me, i eat it like popcorn!
help!!!
July 2nd, 2008 at 7:32 pm
penny wise, pound foolish!