The word “shopaholic” has been distorted, and in some cases even glorified. In many people’s minds it now describes a person who simply likes to shop rather than a person with a serious problem. In fact, with scenes like this, from the movie “Confessions of a Shopaholic,” where risky spending habits are touched on with humor, it can be easy to forget that unsafe spending habits can land you in a lot of trouble. So, with a real meaning of “shopaholic” in mind, here are some easy ways you can watch your spending and work towards living a debt-free and guilt-free lifestyle.
- Need vs. Want – There are in fact some things that we need in life. However, much of what people spend their money on are simply things they want. If you are really trying to pare down your spending then start asking your self this simple question. “Do I NEED this, or do I WANT this?” This is the first part of recognizing how you are spending your money. Once you separate your purchases into needs and wants, you can make better buying decisions by taking care of your needs first and then determining if your wants are worth the cash. [Read more...]