So today in therapy we focused on my overshopping, which is what I primarily feel is to the point where it can be life destroying.
So we discussed my motivations for shopping. There are different reasons but a big one is just that I am the primary target of marketing ploys. I fall for them all. Anytime there is a sale or something looks like a good deal, I feel an urgency to buy it.
Yesterday I bought 2 body butta’s from a black owned company called Beauty Beats. My total came to like $34 when you include tax and shipping. I have heard about this body butter for a couple months from one of my favorite YouTuber’s. I didn’t buy it before because it’s $18.50 each plus about $8 shipping. I couldn’t justify that price. But yesterday they had a 30% off sale which brought the body butters down to about $12.50 each. So my train of thought was “I’ve wanted this awhile and they finally have a sale. Buy it!!”
Also yesterday I bought some candles and about four $2 body creme samples from my favorite black owned candle and body care company called SheaMakery. I tried their candles during quarantine and I loved them but they have been out of stock of the $5 candle samples for over a month. They are finally restocked so I felt an urgency to buy, even though shipping was exorbitant at $8.95.
So a sense of urgency is definitely a factor in my shopping as well as sales.
So in talking to my therapist today, I was able to talk through the problem with my current shopping. The thing is when I purchased all that stuff from April – July , I had the cash to cover my overspending. Now I DON’T have the cash to cover it but my shopping has only slowed down a little bit. So all this extra spending is going on credit. What does credit have? Interest. So basically I am probably not getting a discount on these items when you factor in the interest on these credit cards I am putting it on.
So my therapist came up with a plan, where if there is a sale and I am feeling the urgency to purchase. Before I purchase it, calculate how much the discount is on the sale and then calculate how much interest I would have to pay on top of the sale price. It might not be worth it.
Most of my credit cards have 24% Annual interest.
I am planning to pay off all my September purchases that I put on my credit cards next month, but the only way I am able to do that is because I will be putting all my October purchases on that credit card including groceries. Also the only way I am able to do that is I paid my rent off until December when I got my financial aid. So in October I won’t pay rent and utilities. But I always want to stay a month ahead so I will pay rent/utilities in November.
Right now I am $466 over budget for September. That’s better than August, I was $2100 over budget in August. I am hoping to pick up more shifts and reduce that overage. Today I went in to work a couple hours early to get more money coming in.
I have budgeted for the rest of the year and I am over budget every month for the rest of this year.
I need to bring in more money.