Since I started my clothing/accessories/shoes hiatus in September that I promised to see through to the end of this year, I have broken it just once, by spending $5 on a tortoise shell necklace at a flea market.
From a personal finance, individual perspective, that’s great. But apparently, people like me are contributing to the RUIN of the economy. We now wear the sad title of American consumers who no longer consumes. (Actually, on second thought, I just contributed $500+ to the car repair industry – and to a locally-owned business to boot!)
So I think this is a time when, if you have the discretionary cash and you decide to purchase something – big OR small, you can feel truly great for helping the economy. If you are in the market for something there are GREAT deals to be had – retail, travel, hotels, cars, furniture, home improvement, etc. etc. etc.
So, all this talk about the rich should not spend because of the negative perception it creates? Rubbish! If you have the means to, go on and buy… it’ll help us all.
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{ 8 comments… read them below or add one }
So you didn’t buy anything from Sephora? I was going to ask. It’s hard not to spend money these days. So many stores are doing promotions that only come once a year.. My will power has definitely strengthened. Whenever I buy food out, I try to make me feel less guilty about spending money by convincing myself that I’m contributing to the sad-sad economy..
Actually… I learned in my economics class that by not spending (and therefore saving) you are actually positively contributing to the economy.
In talking about Scrooge: “Pre-reform Scrooge spends very little, investing most of his income in the financial markets. These funds became available for firms to borrow and to build new factories and to carry out research and development. Post-reform Scrooge spends much more -and saves much less. Funds he had previously saved are now being spent on [food and Christmas presents]. In other words, the actions of post-reform Scrooge contributed to more consumption goods being produced and fewer investment goods. We can conclude that Scrooge’s reform caused economic grown to slow down -if only by a little. The larger point is hat savers provide the funds that are indispensable for the investment spending that economic growth requires.” (Hubbard & O’Brien, Macroeconomics)
I contributed to the Sephora economy, but I only order once a year so I was proud of myself. I’m guessing it’s very rough for industries like nails and such.
I’ve thought about that, but I haven’t really changed my spending habits. Not much to change when I just don’t spend that much in general! (And the economy’s problems are not a good reason to START spending money!)
I did, however, decide to do most of my Christmas shopping on Etsy, so that my spending would go to individuals rather than large corporations.
I recently went on a decorating spree. In the past week I have probably spend over $300 on decorations for my apartment. There are 100 better things I could have done with this money, but after reading this post I feel a little better about spending it!
I just replaced a pair of basic black heels ($80 on Amazon) and purchased a set of martini glasses ($10 for 6 at Marshall’s) and I am very seriously considering dropping $100-200 on a versatile dress for upcoming Holiday Party, etc.
I don’t make large purchases very often, though!
I spend!
Six months ago I was frustrated over my lack of money, but now I’ve got a well-paying job! And a long wish-list. And a lot of people to buy gifts to.
I don’t know why, but it excites me a lot to support the music industry. In the last 3 months, I bought 157 mp3 files and 11 physical albums!
Please don’t encourage me.
I already spent $400 on Etsy necklaces (most from U.S.)
And another $1000 or so in local economy in Canada….!