My Money Sins

After writing about my preparations for retirement, I think its fitting for me to admit some of my money spending sins. I have a tendency to spoil myself once in a while…

Whenever I go shopping, I use what I call the three points of purchase. If a product passes all three points, then it is highly likely that I will buy the product. The points are:

1. Is it reasonably priced or on sale? I am a frequent bargain hunter. I enjoy visiting outlet malls and finding the sale section of any store.
2. Does it look good? If the product is broken, or doesn’t appeal to my style… then I overlook it.
3. Do I need it? This is the killer question. Usually, this question will make or break a buy. However, need can be so loosely defined sometimes.. =X

Don’t get me wrong, I am not a frivolous spender. You won’t find me in the shopping malls every day of the week… its more like once or twice every month spent mostly browsing. And when I do make a purchase, it will always be founded on research and education. For most items, I spend a lot of time comparison shopping by browsing several stores. For high ticket items, I like to read reviews online and determine a good sales price.

So what have I recently splurged on?

• Brand new furniture for my apartment. I saved by purchasing from the IKEA in Chicago (we don’t have one in Florida yet).
• A 42″ LCD TV with a 5.1 Surround Sound System. I researched the best bang for the buck units and was lucky to get an open box TV.
• Suits… I own quite a few suits. I just scored one on sale at Banana Republic last weekend! I consider my suit purchases an investment in my professional appearance. =)
• Tech stuff and gadgets. These types of purchases aren’t that frequent, but they can be costly. I just bought a new wireless keyboard/mouse combo (but I’ve owned my current keyboard/mouse for 6 years).
• A plane ticket to Orlando, Florida for Labor Day weekend. With 3 days away from work, I couldn’t resist using the time to spend with friends in Florida, woo hoo! I’m excited!
• Oranges. They don’t grow oranges in Wisconsin, dammit! As a Floridian, I love oranges. I can eat 3 to 5 oranges a day! I’ve been accustomed to getting oranges for free from my parent’s home, or for really cheap. But here in Wisconsin, I’m spending about 50 cents per orange, and they’re tiny! Blah!

That’s pretty much all the major purchases I’ve had since moving to Wisconsin. Even though I do spoil myself now and then, I still follow the cardinal rule of financial responsibility, I never spend more than I make. With most of my days spent hard at work, it’s nice to come home and enjoy the fruits of my labor! Gotta spoil yourself sometime…