Impulse Control

There was a great article today on MSN.com called "Middle Class Reality Check: The 'Essential ' Indulgences." (Link at bottom of post)

It talks about how a lot of us consider nonessential items to be essential now. I am bad about this. Nonessential items for me that have become essential are eating out, buying wine, going to school when I can't afford it, buying skincare products I can't afford, etc., etc.

Someone in the article commented that she knows she shouldn't do this, but it makes her feel better.

I commiserate with her. I do a lot of things too that I can't afford to make myself feel better. I am single and sometimes I have to treat myself. Sometimes buying something is the only way to make yourself feel better. I know that sounds lame, but if you need a new piece of clothing so you won't look fat, you just have to get it!

The problem for me is that my splurges would not be a big deal if I were not in debt. I don't spend that much on things--it's just that I don't have much wiggle room with my money.

As soon as I get out of school in August, I am going to damp down my debt and save my emergency fund. I actually can't wait.

I guess the good thing for me is that I can see the light at the end of the tunnel. At least when school is out, I will free up a huge piece of cash each month to pay off bills. And I won't have taken out more debt for school. That is probably different from those who have debt, continue to overspend, and will not have a break like that coming up.

I will get out of debt and save. I will get out of debt and save. I will! I will!
The article talks about how so many Americans live on the edge with debt now and I have been one of them. But not for much longer.

http//articles.moneycentral.msn.com/Investing/HomeMortgageSavings/MiddleClassRealityEssentials.aspx#pageTopAchor