Costs of Retail Therapy
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 Management a useful addition to your library.
Peter Mulraney is the author of the Everyday Business Skills series.