A little self-indulgent shopping can’t be bad for you, can it?
We’ve all bought ourselves a little something to distract ourselves from the reality of our lives. That’s one of the benefits of living in a consumer society where there’s stuff to buy and easy access to credit.
My weakness is stationery. There is something about paper and pens I find irresistible. The upside of my self-indulgence is I always have a pen and something to write on. The downside is some of those stationery items can be expensive. Fortunately, I do not turn to retail therapy very often.
But, if your self-indulgent shopping involves fashion accessories or clothes, your retail therapy sessions may cost you a lot more than mine.
It’s a sad fact that turning to retail therapy, instead of dealing with life issues, often leads to serious financial distress, especially when that self-indulgent spending generates credit card debt.
If you’re looking at your credit card statement and wondering how things got to this, you might find Everyday Money Managementa useful addition to your library.
My Life is My Responsibility: Insights for Conscious Living
Conscious living involves being aware of what’s going on in your life and, more importantly, what’s going on in your mind.
How you experience life depends on what you choose to believe.
If you never take the time to examine your beliefs, or to question your assumptions, you end up living unconsciously. When you live unconsciously, you live your life according to somebody else’s beliefs. You end up trying to meet somebody else’s expectations and not your own.
The insights in this book flow from a sense of being aware that you can change the world, but not in the way most of us think about doing that.
Real change happens when you accept that there is only one thing that can be changed: how you choose to see things.
Write down the steps you intend to take to get your cash flow under control. At the very least, draw up a budget and decide what you will be spending your money on before you spend it. This is the reverse of the cash flow exercise you did.