Are You Making Excuses for the Money You Spend?

spending too much money on shoppingYesterday was Black Friday.

Did you hit the stores at 4am?

Were you one of the million of folks out on Thanksgiving to shop the stores that opened in the evening?

Or maybe you are like me, you avoid stores on Black Friday (and the days surrounding it) like the plague!

I wasn’t always this way, there was a time when I hit the mall bright and early on Black Friday. I was armed with nothing more than my credit cards and a large cup of coffee.

The problem with my “plan” was that I didn’t have a list (and I surely wouldn’t have stuck to one if I had), I didn’t have a budget (I wouldn’t have been able to pay for things in cash if I had tried.). I didn’t have anything but an excuse.

“But, it was a great deal!”

I can’t tell you how many times I have said this over the years. Black Friday wasn’t the only day in the year that I shopped without being mindful of my finances.

25 boxes of dish-washing detergent. They will last me 10 years and be super heavy to carry when we move but it was a great deal!

2 copies of the same board game. The kids are too young to play it now and I’ll sell the extra on eBay, but it was a great deal!

4 different shirts at 90% off. They are a bit tight and I can’t wear them until I lose weight, but it was a great deal!

3 boxes of Tupperware type bowls. We have a bunch already but it was a great deal!

15 black picture frames. All of my walls are full of pictures now but it was a great deal!

I said this over and over again when I went out “bargain shopping.” I told my husband this when I came home with a bunch of shopping bags. When I described a purchase to a friend or my mom, I was always stating this phrase. What I am now able to recognize is that I was lying to myself.

I didn’t need 25 boxes of dish-washing detergent. 10 boxes would have been enough to last me a couple of years. I just couldn’t walk away from a “great deal” even when excess was more than we could afford.

I was lying to myself because so many things were purchased without being a need. They were on sale or I had a great coupon or the red clearance tag was screaming at me. I was making excuses about what I was spending and lying to myself about what my family actually needed.

So many of these times, I put things on a credit card and didn’t pay off the balance. Guess what, if you buy something on credit and have to pay interest on it…IT’S NOT A GREAT DEAL!

When you are out shopping and you need to justify a purchase, it probably isn’t a need. Put it back on the shelf, walk away and regroup. Take the time to figure out what you need and what you can do without. And make sure you have enough cash to pay for it without harming your budget.

Making excuses for how and why you spent your money is not going to get you anywhere but broke. It is not going to help you live the life you want to live. It is certainly not going to make you feel powerful. My guess is you are going to feel worse once that shopping “high” has worn off and you think about that purchase.

What’s your excuse?

Think about what is stopping you from taking the steps to get out of debt or achieve greater financial stability.

Why are you using excuses to justify your behavior? Are you lying to yourself to avoid something difficult? Most people do not go into debt by being honest with their spending and knowledgeable about their finances. Debt doesn’t sneak up on us after a weekend out shopping. It comes about gradually because we have adopted a behavior that is based on excuses. Those lines at all the big box stores are full of people buying things that are a “Great Deal!” If they are putting it on a credit card, it is no longer a great deal. If they are coming up with a reason why they “need” it, it isn’t a great deal.

I sincerely hope you were not one of those people. Think about what you purchased (any time you do so, not just on Black Friday). REALLY listen to what you are saying. If you hear an excuse, go return the item at once.

The power of taking control and doing right by your finances is far better than any high you can get from purchasing something just because it was a great deal!

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11 Responses to “Are You Making Excuses for the Money You Spend?”

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  1. Sara Broers says:

    Jessica- Great post! Everyone should read this. Your message is real

  2. Penny says:

    I applaud the way you’re able to be honest with yourself (and the world) about your excuses.

    I think my biggest excuse to get over is “if he/she can afford this, so can I”. It’s hard to live on a college budget, especially around my group of friends. The majority of my friends were either much more heavily financed than my parents than I was (I received enough to cover tuition, room, and board, but some friends got thousands of dollars in cash gifts each year) or participated in a co-op program where they worked full time every other semester and also worked part time during their working semesters. A lot of these friends also ran low on money on a regular basis and had to borrow from friends for grocery money until they got another cash payout from Mom or finished their class semester and started working full time again. It’s hard to look at those people eating out all the time and buying whatever new books and video games that come out and remind myself that I’m not in the same financial position that they are, and that I’m only setting myself up for failure if I follow their patterns. It’s easier now that I’m the only one still in school, because it’s easier for me to recognize that their paycheck is markedly bigger than mine. It’s still hard, though, because I’m ready to be done with graduate school and be in a situation where buying a movie ticket now won’t potentially lead to me eating ramen all month at the end of the semester.

    • Penny, the saying “honesty is the best policy” didn’t come from nowhere. I truly believe it is the case. It’s the basis for my personal blog. I have to be honest because when it comes down to it, I’m pretty sure I’m not alone. If we were all a bit more honest about our finances, then we wouldn’t have the debt crisis that we have in this country.

  3. The excuses I use most are related to grocery shopping. I’m always telling myself that I can’t save any more money that I do, and that I need everything I buy. But when I talk to others it seems like they’re spending a lot less on groceries than I do. Even writing this now it’s hard for me to see where I can cut back, but I’m going to at least try.

  4. You hit the nail right on the head Jessica – so many people make one of two mistakes on Black Friday – either a.) they just go wandering around looking for “deals” or b.) they rummage through the ads and convince themselves that they need the things they see.

    It’s NOT a sale if you buy something you weren’t planning on buying anyway!

    I don’t participate in the late night/early morning madness anymore either. Vonnie and I have the list of things we want to purchase for our kids. We then went through the ads and found a couple of those items and went out and got them – at 3:00pm in the afternoon.

    Stuck to our list, stuck to our budget, got a great night’s sleep. THAT’s a great sale.

    • I wish more people would treat BF like you and Vonnie did Travis. So many people told me they go because “it’s tradition” or that “it’s fun!” I fail to see the fun in it. I think there are good deals to be had but I also think those same deals can be found throughout the year (or at a more normal hour of the day!)

  5. Nate says:

    Good points here. I’d add that sometimes people have the best of intentions and think the sales will help them, but they can get into trouble because of the reasons you point out here. Have a plan, stick to it, make sure you are staying in your budget and stick to the plan.

    My wife did some shopping that day, but didn’t go crazy with it and stayed within her means…and got some good sleep.

  6. There will always be excuses for those people who do not realize their spending. I don’t believe that all great deals are sold on Black Friday sale. There will be more sales and better deals after Christmas and New Year as well as closing out and inventory sales of some stores. You get better deal without putting up with the crowd or getting brawled by the person beside you.

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