Shopping for new clothes and shoes can be so much fun in the moment. But what about the long term effects?
My many years of working in retail I saw so many people addicted to shopping. It can definitely be a form of escape with long term consequences such as paying high interest on your credits if you can’t pay your entire bill when due. With most credit cards having an average of 21-24% interest rates it can add up.
So here are my 3 rules for shopping:
check in with your feelings. How are you emotionally? Stressed, anxious, perhaps wanting to create an image to feel good?
Wait a while before you click on the purchase button or walk to the register. No matter what the sale price. I recommend several hours and up to 24 hours.
Can you pay for it without sacrificing something else? Will you be able to pay for your other bills. Or if using a credit card can you pay for it when the bill comes? Keeping in mind if you are late with bills it can harm your credit score.
I hope these tips can help :).
Written by,
Sherry Ellingson
Finance. Money FUN
Money mindset Coach
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