Are You an Obsessive Spender?
- Thread starter jello_1955
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I totally agree with this..!
Hmm, wonder what is the "right" percentage then... 2-3%?!
ush: 
I personally feel that as long as we can manage our finances well, we can buy as we like..! Some people spend like crazy on other stuffs (cars, IT gadgets, games, etc), why is it that spending for fashion is the only thing that seems wasteful? Everyone prioritize differently, so as long as we have a balance and healthy finances with no unnecessary debts, it should be ok. JMHO...
Some people spend like crazy on other stuffs (cars, IT gadgets, games, etc), why is it that spending for fashion is the only thing that seems wasteful? Everyone prioritize differently, so as long as we have a balance and healthy finances with no unnecessary debts, it should be ok. JMHO... 
I am an OBSESSIVE spender! lol Shopping is like a drug for me! Unless I dont have money to pay bills then Ill think my shopping is a problem til then I will shop away...
I agree with putting some money into savings so you don't spend all of your salary. A wise budget is good too. If I'm spending within my budget for the month, I'm happy. If I don't, then I'll cut down on next month's purchases, or wait until I get my bonus.
Oh yes, then I am most definitately an obsessive spender! 5-10% is sooooo little! Can you imagine, if you made $100K a year, that's only $5-$10K a year, so $2500-$5000 a season. With the prices of handbags around $2000, shoes $500+, what can you get?
(By the way, I am making no reference to how much I make. I just used $100K because that's an amount some would think is a pretty good salary.)
(By the way, I am making no reference to how much I make. I just used $100K because that's an amount some would think is a pretty good salary.)
:true: :true: My name is Lisa and I have a problem.....
Weelll! I look around my home and notice all the things I bought that truly derived me pleasure - some for minutes, some for hours, days, weeks. However, I have "simplified" my life into three categories now (after many yard sales and giving things to the housekeeper)..Needs/Wants/Wants that will make me happy for a long time. The latter are: Expensive classic timeless treasures that I can leave in my will. Little everyday stupid impulse purchases have seen my self imposed ban and thus my home is becoming a little less cluttered. My poor closet and jewelry chest however.....
Weelll! I look around my home and notice all the things I bought that truly derived me pleasure - some for minutes, some for hours, days, weeks. However, I have "simplified" my life into three categories now (after many yard sales and giving things to the housekeeper)..Needs/Wants/Wants that will make me happy for a long time. The latter are: Expensive classic timeless treasures that I can leave in my will. Little everyday stupid impulse purchases have seen my self imposed ban and thus my home is becoming a little less cluttered. My poor closet and jewelry chest however.....
I think I need a support group then. This forum does not help because I see people with tonnes handbags and I think well I am not that bad. My taste and my budget do not go together so, I try to get things on sale and if I really love a handbag I save for a number of months and do not go out to dinner or buy other things. Regardless of your size your handbag will always look good so, it is a long term item. The site makes me realize that there are bags that I love but, could simply not afford without going into major debt. Therefore I drool over other peoples handbags and kind of share in the excitement. When someone gets a gorgeous new handbag for a brief moment I live vicariously through them...ohhh...this saves me from going bankrupt. Handbags are my weakness and if I do not keep myself in line I will have to get another job income evening/weekends. Those celebs are so lucky great clothes, handbags and shoes...what a dream. i feel guilty when I do get a nice handbag because I think I should pay off some more important things but, I just love nice handbags. I have no clue where I get this from because I did not grow up with designer anything in fact I had hand me downs and I think that really bothered me. Now I over compensate by buying high end handbags because I was teased growing up. I think I just had a moment and figured out my handbag addiction. The prided of having an excellent crafted item that is high end is so exhilirating.
I just read an article in the Washington Post on budgeting. In the article they quoted a spokesperson for Money Management International - a nonprofit consumer counseling organization.
The list of budget allocations MMI recommends - along with comfortable or affordable ranges:
personal debt (credit cards, personal loans), 14%, range 10-20%
housing, 27%, range 20-35
food, 21%, range 15-30
transportation (including car loans, insurance, gas), 8%, range 6-20
ultilities, 6%, range 4-7%
clothing, 4%, range 3-10%
miscellaneous (travel, entertainment), 1%, range 1-4%
savings, 7%, ragne 5-9
insurance, 6%, range 4-6
personal care, 3%, range 2-4
health, 3%, range 2-8
If you want to spend more in one area they recommend cutting back in another. I thought the savings and travel ranges were rather low IMO, but overall this shows that 10% isn't really horrible according to some, its just a matter of balancing it with your other expenses.
The list of budget allocations MMI recommends - along with comfortable or affordable ranges:
personal debt (credit cards, personal loans), 14%, range 10-20%
housing, 27%, range 20-35
food, 21%, range 15-30
transportation (including car loans, insurance, gas), 8%, range 6-20
ultilities, 6%, range 4-7%
clothing, 4%, range 3-10%
miscellaneous (travel, entertainment), 1%, range 1-4%
savings, 7%, ragne 5-9
insurance, 6%, range 4-6
personal care, 3%, range 2-4
health, 3%, range 2-8
If you want to spend more in one area they recommend cutting back in another. I thought the savings and travel ranges were rather low IMO, but overall this shows that 10% isn't really horrible according to some, its just a matter of balancing it with your other expenses.
This is why a 100k salary isn't so much anymore. I know lots of people making over 100k and they don't buy handbags that cost 2k or shoes that cost $500.
Oh and my above percentages were after tax. So with a 100k income you'd be looking at less.
I know. It's quite sad because the average American makes much less than $100K. If you are talking $100K after tax ... isn't that like $140K?
This is exactly why so many of friends are going into finance, so they can make $200-$300K out of business school and be able to "afford" London or New York.
I remember when I was in college (not that long ago either) when you could buy Prada shoes for $300 and there were even nice Gucci purses (not the monogram styles) for $500. Now even Miu Miu shoes are $500 when I remember they were like $200-$250.... It's only recently that designer clothing prices have skyrocketed.
Sometimes I wish I was back in college when I could afford head to toe Prada.
