How To: Avoid Reckless Spending

Written by Clove Morgan

Do you remember that bag you got from Target with the jammed zipper? Or the pack of multi-colored hair clips you thought would go with that one outfit? Or even the makeup you swore you’d experiment with but is now expired on your bathroom counter? We’ve all wasted a chunk of our wallets on something we thought we wanted in the moment. Whether it’s a miscellaneous top or accessory, a treat on a day out, or jewelry we know will ultimately turn our skin green with a splash of water, there are some days we look back on our purchases and think “Why did I get that?” Well, there are ways to train your brain into recognizing when shopping is the smart choice or a reckless impulse buy.

When you’re trying to decide whether or not something is worth dropping some money on, it might not be enough to ask yourself if it’s a want or a need. That line of thinking isn’t fool-proof and can lead to some confusion when faced with an item of debate. A want is often described as something that isn’t a necessity, often associated with luxury such as eating out or designer items. A need is associated with basics to survive like clothes to keep you covered, food to keep you alive, and maintaining a stable household. The lines blur, though, when you think about what distinguishes the two from each other.

I really love going out and spending money on experiences with friends and family. Not only does it offer some entertainment or lasting memories, but just simple happiness as well. To me, happiness is worth spending money on. I would consider that a need. Without taking the time to treat myself, my life isn’t really worth living because I won’t be able to step away from the stresses of real life. I need that break in routine in order to take care of my mental well-being. There might be something similar in your own life that helps you keep up with mental health, like a favorite irresistible snack at the grocery store or latte in the morning from a coffee shop or even buying a little trinket while you’re out.

You have to account for “want-spending” because it is an inevitability. It’s unrealistic, especially as a young adult, to go without a fun purchase once in a while. Not only are we actively shaping ourselves, but also what our lives will look like and adopting a regular fun purchase will leave a positive impact on your day-to-day life. It also helps you recognize when something is a genuine want versus an impulse. Believe it or not, the two aren’t the same. Want-spending can be a budgeted means of fun, think of it like getting twenty dollars as a kid to spend on a new toy of choice at Toys R Us. Go in with a game plan, maybe with a little wiggle room for an extra buck or two, and ask yourself a series of questions to determine if the purchase is a smart investment.

I went to Target with my mom recently and, like most people, immediately found way too many things that I wanted. A hot pink fanny pack, a new bikini top, some claw clips, and an eye shadow palette just to name a few. I slowed myself down, though, and thought it through. There were some things I went there with the intention of picking up: moisturizer, new blush, and deodorant. I went to those destinations first and managed to find all that I needed (with a delightful shock that my moisturizer was half-off, score). I figured there was no harm in picking up two fun things, especially since I saved thirteen dollars from my need-spending.

I ended up going with the bikini top and a different fanny pack, but let me walk you through my thought process. First, I looked at my recent history of spending. Over the course of the summer, I’ve picked up a ton of extra shifts at my job in an effort to make some extra money. Since my birthday, I haven’t really made any big purchases–successfully avoiding buying concert tickets, new shoes, and meals out while with friends.

On the other hand, I did buy some tickets to recent movie theater releases, a Taylor Swift crewneck (can you blame me?), and a new formal dress for upcoming senior year events. Not bad considering I spent the rest of the month making money. On the whole, I’ve made some great financial moves lately. If you have been on a spending spree and can acknowledge a pattern, maybe it’s best to put back your item of choice and save it for another day.

The next step is looking to the future. What can you use the items for? How long will they be useful? Can you think of specific examples? Looking at the eye shadow palette and claw clip pack, I knew I wouldn’t get much use. First of all, I barely do my makeup in this southern summer heat since it ends up melting off anyway. When I actually do my eyes, I have a tried and true palette that I always use without fail. Claw clips, while a great hair accessory for hot days, are already mass stocked in my bathroom drawer. The bikini top, though, would be great for the pool and would work for beach trips and, honestly, I don’t have very many swimsuits to begin with. The hot pink fanny pack is a nice, small bag for outings that I don’t necessarily feel like carrying a purse along for, and pink just in time for Barbie season. Then again, how much would hot pink go with year-round? My wardrobe changes with the seasons and I don’t see myself really wearing a bright pink like that in the fall or winter–so I checked their other colors and fell in love with their white and beige (cute and will go with anything, totally worth it). 

Do you see how I managed to direct my line of thinking from aesthetics toward practicality? You should always enjoy your purchase while considering how it will be used in the long-run. This includes experiences too, will the memories and time spent building relationships with others make you happier? Go for it! With enough practice, avoiding a reckless purchase will become second nature. I use it nearly every day now that I can see the distinction between a “want” and a “reckless” because, really, those are the two to look out for. Stay smart when shopping!