CONFESSIONS OF A FRUGAL SPENDTHRIFT

[graci42]

CONFESSIONS OF A FRUGAL SPENDTHRIFT

I’ve spent most of my life as a frugal spendthrift. If it was on sale or marked down, I’d buy it and brag on my shopping savvy! The thrill was in the hunt. It didn’t matter if the item was an ugly turtleneck I never wore, I only paid .80 for it. No that wasn’t a type-o. I wasted 0.80 on a shirt I never wore. That’s just one example. Those little “bargains� add up. Just ten of those little deals would be enough to buy the ingredients for 2 maybe 3 frugal meals, if I planned carefully. Not only do they add up, they tend to pile up, too.

There have been times that I’ve purged my closet and cried. Items that still had price tags hung unloved in my overcrowded closet. The guilt weighed on my heart just as heavily as those clothes on the rung. The ones that hurt the most were the “too small� purchases that I just couldn’t pass up. You know what I mean. It was so cheap that you bought it as a “goal�…Yeah, right! What happened to that goal? Oh, right…that one! Ummmmm...Oooops!

What woke me up? Last week I thought I messed up my checking account. I sent out some bills and forgot to put them in my register. Then I wrote DH a check to help with house bills. Well, I checked my account balance via auto-teller and freaked out. I had $15.00 in my account, or so I thought. Thankfully, I found my problem before it became a bounced check! But what would have happened if I hadn’t checked? Would I have the money to cover the check and fees. Sadly, NO!

We had to use the money in the savings account last month when we found ourselves short on cash. DH had vacation time; consequently, he had a short pay. He gets paid for all vacation time in a lump sum earlier in the year. We had banked it, but hadn’t added significantly to the savings. So now there is a balance of 20.00 and change in the account.

Because I “messed up� or at least I thought I did, I was unable to do the grocery shopping as I normally would have. Thankfully, I do stockpile in a modest way. We had enough staples to get through. I cook from scratch, so my pantry is geared to that…Thank God!

Note the “I thought I had� ….lol After going through my account and checking the auto teller to make sure all checks, eft’s and debits are accounted for, it turns out that the monies were subtracted from the balance (eft/debit card with drawls), but not entered into the voice auto teller until Monday (after Thanksgiving…light bulb). The bank just hadn’t updated the computer. DAAAA! What did I discover? My stockpile!

I know that I can make the pantry work for me. Up ‘til now, I’ve just been working for it. Yes, I would rotate my stock but I hadn’t really made my stockpile work for me! So now, I guess it’s time to walk the walk. I’m going to start keeping a spending journal. I’m going to challenge myself to use up the pantry and only buy those items I am low on. The money I don’t spend will be put back to restock the pantry once a month. I’ll make sure I set back enough for really good loss leaders, but I’m going to put “excess money� into savings.

I never want to have that sick to my stomach feeling ever again! I also want to prove to myself that we can live comfortably and have security. Wish me luck!


Oh....need to update my siggy...
Graci

[Englishlady]

Oh, Graci, I am sure you are not alone in your little bargains turning into a closet full of clutter and wasted money we have all done it in the past ........... still at least you have realised where the problem lies...........I only ever buy clothes that fit me NOW, we'd all like to be smaller I am sure but, I think it is depressing to find that most of the stuff in your closet is for the "future you" rather than the "present you" and the "present you" is a gift so keep it wrapped in something nice and comfy and worry about the "future you" when you get there

Any one you can have a clothes swapping session with?

[hollyhill]

Thanks for sharing Graci.
You have learnt such a valuable lesson! It is a true light bulb (AHA) moment. 80 cents spent on a deal is still no deal if you can't use it, just 80 cents wasted. You learned so much.

A dollar is so easy to drop on a "bargain" but I have trained myself to think....yes Dd could use that nice thriftstore top BUT she doesn't NEED it. So I just pass it up hoping someone who could use it will buy it. I see that $1 as a one third of a gallon of milk or or half a pkg of rice or a pound of fruit and it becomes very precious.
I still shop for "bargains" but only those that are essential are purchased the rest are admired.

I even thought that way when Dh was working but I didn't apply it to food like that, instead I might have purchased that top if I knew someone who NEEDED it or I would save the $1 and think how much good it could do put with other $$$ twords a charity or to help someone. I always thought how can I use that $ so it would be used well.


You have stepped off the save money by spending treadmill. Congratulatios!

[pkellyc]

Wishing you luck Graci. You can do it! It just takes a little practice and some effort.

[Katybird]

Kudos to you for realizing that bargains are not always bargains. You did great by cooking from your stockpile. Doesn't it feel great to be able to do that? I love the challenge of using just the stockpile occassionally.

[alabamagirl]

Sorry for that scary little moment - oh boy have I been there! I'm so glad you caught it in time.

I have become a minimalist over the last few years just from the standpoint I don't care for lots of "things" and "clutter." If only DH would get on my Feng Shui bandwagon! LOL.

Now that you've recognized that the bargains are not true bargains, you've accomplished a great deal.

[AmyBoz]

Thanks for sharing your story, Graci!

[Telephus44]

Thanks for helping me realize I'm not alone! I tend to do that with couponing - but even if I can get a jar of artichoke hearts for $.25 after sales and coupons, it does me NO GOOD because we don't eat them! I don't know how many things I have in my pantry because they were a good deal.

I think I'll challenge myself to use some of them up!

[Early Bird]

Can you write up your story for The Dollar Stretcher? That way, more people could benefit from this new insight.

There is one point though: sometimes a splurge is worthwhile. And an $0.80 thrift store splurge is preferable to an $80 mall splurge.

[Michele Annette]

Thanks Graci for that. I'm glad you discovered that moment. It kind of happened that way for me too when I first joined the Village. I would find great deals, or do I really need it? Hmmmm...

For the past year I have been going through my closet every season and have gotten rid of more and more stuff. I couldn't believe how much was in there, yet when I look in there now everything is clean, neat and orderly. I have been following Karen's advice on organizational skills in a small living space. Our apartment is 500 Sq Ft.

Keep it up Graci!

[graci42]

Thanks for listening, ladies! I felt better (stronger) for having written it all down.

"...the "present you" is a gift so keep it wrapped in something nice and comfy and worry about the "future you" when you get there."--Karen

I will remember this the next time I see a "goal" item! Thanks!!!

"You have stepped off the save money by spending treadmill. Congratulatios!"--Hollyhill

When I read this, I got an image of me w/ wiskers running on a hamster treadmill...lol NO MORE FOR ME!!

Again, thank you all!

Hugs,
Graci

PS. I'll mull over the Dollar Stretcher idea...Funnily enough, I spoke w/ Gary Foreman about 2 weeks ago. I wanted to copy part of his newsletter and called him to ask permission...We talked for about 15 minutes. He's a very nice man!

[kaykwilts]

I am learning that lesson myself. I walked out of a thrift shop on spending a couple of dollars for a pair of jeans for the daughter and a 25 cent item that a really needed. I saw a bunch of stuff that was great deal but it's not a great deal if you don't really need it or if it's going to just be clutter that you will turn around and give away in a couple of years. I only get clothes that flatter me now. I don't get ones just because they are cheap.

[ironmaiden]

We donate to the food pantry at church weekly, but when the town one happens with their once a year collection by the post office, I lfill an entire bag by looking through all my cabinets and finding all the stuff that I'll realistically never use. Someone will.

[Darlene]

Good for you Graci! In updating your siggy line... my fav part is that you've been ciggy free for so long, that's a habit I'm glad you broke free from! Keep on being good to you no matter if it's your health, money...

[graci42]

Darlene...thanks for the thumbs up! Here's the sad part. I think I replaced the smoking addiction with my spending. Think about it.

Had I banked all the money I used to burn, I would have $1560.oo saved. Never too late to start saving