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201p

For people addicted to spending.

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For people addicted to spending. And can't save, or buy stuff that doesn't appreciate in value. This is a mental force that I think cannot be stopped. This is why people get into debt. When people are bored they search for the next thing that they must have. Whether it be another pair of shoes, a handbag, a watch, a gadget, it is endless. People rack up credit card bills, loans, but still the urge to buy the next thing is strong.

I suggest if you have these traits, that is to divert your energies into ventures that cost little money but maybe profitable and keep you occupied.

Maybe you have a huge collection of something, and you know yourself, you should not buy any more. Maybe divert your energies into videoing or blogging about it on YouTube or a blog so you can monetise what you have. Create something that you can be proud of. Create something out of nothing, which has value. Each video or blog becomes a passive income producing asset, which earns you money. At worst case, you spend another day not spending money.

(This is probably not relevant to people on this forum)

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7 minutes ago, 201p said:

I suggest if you have these traits, that is to divert your energies into ventures that cost little money but maybe profitable and keep you occupied.

Extreme exercise like going out every evening running, cycling, gyming, swimming or any other ing etc for two hours means that you will be too knackered to bother shopping and more interested in eating good stuff.

* Just thought of another ing that is a form of exercise but takes two minutes rahter than 2 hours so scratch that one.

Edited by Chewing Grass
another ing

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When people buy something they want they get a buzz from it. It doesn't last though and very soon the desire to buy something else manifests.

Compulsive spending is an addiction. Sufferers need to recognise that thousands of purchases of stuff they don't need will not solve their life problems, whatever they may be. At best such people will have less financial security than they could have at worst they will get into debt.

If a person recognises they have a compulsive spending problem one approach to start tackling such an addiction is to try and distinguish wants from needs!

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I honestly think I have the opposite. I can't actually remember the last time I spent money on something for myself. I have fancied a slow cooker for a couple of years now but just can't bring myself to spend the money.

I am Feck all use to the consumer economy. 

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I vacillate between the two extremes. I absolutely love going for long periods without spending and chucking the money into my investments instead, but I also obtain pleasure from buying motorbike-related stuff as it definitely improves my experience, and biking is a big part of my life.

Recently I've bought some mirror extenders, a replacement ECU, some replacement heated grips and some more luggage. Every single one of these things will make my life more enjoyable, and none were on credit.

I am also toying with the idea of buying the second pair of trousers in three years.

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2 minutes ago, Inoperational Bumblebee said:

I vacillate between the two extremes. I absolutely love going for long periods without spending and chucking the money into my investments instead, but I also obtain pleasure from buying motorbike-related stuff as it definitely improves my experience, and biking is a big part of my life.

Recently I've bought some mirror extenders, a replacement ECU, some replacement heated grips and some more luggage. Every single one of these things will make my life more enjoyable, and none were on credit.

I am also toying with the idea of buying the second pair of trousers in three years.

Why would you need two pairs of trousers?

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17 minutes ago, Cunning Plan said:

I honestly think I have the opposite. I can't actually remember the last time I spent money on something for myself. I have fancied a slow cooker for a couple of years now but just can't bring myself to spend the money.

I am Feck all use to the consumer economy. 

I've been a slow cooker fan for many years. I use mine most days. They're very cheap to buy.

Examples....today I cooked eight chicken thighs for my dogs to give them meat with their mixer for the next four days. Tomorrow I'm making tandoori chicken for tea so I'll get my accompanying curry sauce made then stick it in the slow cooker on low and it'll be ready to serve.

Other things I do in it are stewing steak, mince for mince and tatties, bolognaise sauce, beef chilli, brisket and some soups.

I find it really handy and good for meat, sauces etc that benefit from long slow cooking times. Prepare it, chuck in slow cooker on low and its ready to serve at tea time.

I'm no use to the consumer economy either because I'm thrifty. For over a year I've been buying decent quality (scotch) meat/fish from Aldi at thirty to fifty percent off.

Quality clothing is usually bought from eBay or charity shops. Anything else needed or admittedly sometimes just wanted is bought in sales.

I never buy anything for the house unless it's actually needed and if I do I'm happy to buy second hand apart from a mattress.

Occassionly I buy a coffee to sit outside a coffee shop but apart from that I mainly eat and drink only what I make myself.

Anyway, I would recommend purchasing a slow cooker for the type of stuff I mentioned. Just makes life easier IMO.....and they don't use much electricity which is a big plus for me!

 

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9 hours ago, 201p said:

This is probably not relevant to people on this forum

This!

My brother actually bought a watch case in which to store his watches.  I have a watch, a decent non-flash one but still just a watch.  Which I bought when my last one broke.

As I don't understand why you would want a second watch I am not going to understand why he feels he needs as many as he has, probably more than a dozen these days.

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27 minutes ago, Frank Hovis said:

This!

My brother actually bought a watch case in which to store his watches.  I have a watch, a decent non-flash one but still just a watch.  Which I bought when my last one broke.

As I don't understand why you would want a second watch I am not going to understand why he feels he needs as many as he has, probably more than a dozen these days.

I have the same addiction,and I currently own three Watches down from five.

It doesn't make any sense and they are expensive to service every 5-7 years.

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7 minutes ago, sleepwello'nights said:

What are you going to do with all the money you're not spending?

We're only here once, ok reincarnation may occur but we don't seem to recall our previous life(s), why not spend and enjoy?

You're making the assumption that spending money upon possessions brings pleasure and that by not doing it one is denying oneself that pleasure.

I happily spend on experiences, meals but possessions - I just don't want them. My long term goal (I think it will take five years) is to empty the bigger of my two wardrobes and the sheer joy when I can stand back and look at an empty wardrobe will be tremendous.

There is no self-denial going on, in my case (can't speak for everyone) it has nothing to do with saving money and everything to do with simplifying my life so I spend more time doing what I want.

There was a blog of someone who had got down to 100 possessions.  I find that awesome but accept that you can't do that with a house.

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32 minutes ago, Frank Hovis said:

You're making the assumption that spending money upon possessions brings pleasure and that by not doing it one is denying oneself that pleasure.

I happily spend on experiences, meals but possessions - I just don't want them.

There is no self-denial going on, in my case (can't speak for everyone) it has nothing to do with saving money and everything to do with simplifying my life so I spend more time doing what I want.

Fine, its whatever floats your boat. I do know people whose only pleasure is seeing the numbers on their bank account or value of their investments getting bigger. My sister for one, lives like a bag lady, doesn't go out, doesn't have holidays. 

She wants to save so she can leave something to her children! At the moment it looks as if they're in line for a million or so each, as will HMRC, will any of them be grateful, I doubt it. Before then it was saving for her retirement, well she's retired now and has enough to live on for far longer than she'll live, she still wants to live frugally so she can save!

I enjoy the pleasure of experiences, new clothes, good food, nice cars, I don't feel the need to live like a hermit. I spend within my means and am still able to save. I have no idea how long I will live but I'm sure my spending will decrease in future years, so while I can I'll spend on what gives me pleasure. 

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52 minutes ago, Frank Hovis said:

There was a blog of someone who had got down to 100 possessions.  I find that awesome but accept that you can't do that with a house.

Trying to get down to 100 possessions is just as nutty as constantly buying tat.

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1 hour ago, sleepwello'nights said:

What are you going to do with all the money you're not spending?

We're only here once, ok reincarnation may occur but we don't seem to recall our previous life(s), why not spend and enjoy?

In my case, spend it on not working. When I was in the rat race I converted the price of anything significant I thought about buying into time spent at work in order to decide if I really wanted it or not. Usually I prefered to retire that bit earlier.

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Someone on here (can't remember who, sorry) said it succinctly on another thread. No point living like a skinflint for X years, to retire as a skinflint with little money and willingly live on the breadline just to prove a point.

By all means renounce needless materialism but I'd always have a safety net. Particularly if you have dependents.

Personally I enjoy working. People who hate their jobs find that very strange, but I've always loved Monday mornings. I'd hate to have nothing to keep the mind occupied, and retirement  I'd imagine is fucking tedious after a few months. Even worse if you have no money.

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3 hours ago, gibbon said:

Trying to get down to 100 possessions is just as nutty as constantly buying tat.

I totted up and soon realised I couldn't get close; you're allowed to ignore things for the house like cutlery, tools for the garden or car etc. that go with having a house / car / garden and you wouldn't have otherwise.

The guy who was doing it was doing short term rents so had nothing for the house and no car or bike.  He eventually buckled to something like 160.

I like the minimalist concept and these days, because I am focused upon reducing what I own, when I do buy something I know that I will get considerable use out of it so buy (within reason) the top quality item.

It was a couple of years ago but I think I arrived at 300 possessions as being a realistic aim. Might take thirty years to get there though!

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3 hours ago, spunko2010 said:

Someone on here (can't remember who, sorry) said it succinctly on another thread. No point living like a skinflint for X years, to retire as a skinflint with little money and willingly live on the breadline just to prove a point.

By all means renounce needless materialism but I'd always have a safety net. Particularly if you have dependents.

Personally I enjoy working. People who hate their jobs find that very strange, but I've always loved Monday mornings. I'd hate to have nothing to keep the mind occupied, and retirement  I'd imagine is fucking tedious after a few months. Even worse if you have no money.

I've retired twice (at 40 and 45) and each time my enjoyment of being retired lasted as long as the good weather and light evenings as each time I'd retired with no clear plan of what I intended to do.  So I'm still working, and perfectly happy with it.

I do now have such a plan, and am confident that it will be sufficiently fulfilling even through the dark winter months, but am no longer in any rush to retire.

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I spent £3.99 today in a charity shop on a perfect condition 100% wool black watch tartan dressing gown made by Lloyd Attree & Smith. 

It's fabulous! Sometimes it's worth splashing out. This dressing gown will outlast me xD.

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4 minutes ago, Economic Exile said:

I spent £3.99 today in a charity shop on a perfect condition 100% wool black watch tartan dressing gown made by Lloyd Attree & Smith. 

It's fabulous! Sometimes it's worth splashing out. This dressing gown will outlast me xD.

It is the sheer joy of being able to say:

  • I have a dressing gown I really like
  • I will never need to buy another one
  • It has cost me four quid

That is the trick.  No need to keep buying, no need to keep searching and spending. dressing gown - sorted forever.

It just makes things so simple when you do that; less time concerned with " acquiring things". more time concerned with "doing things".

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8 minutes ago, MrPin said:

I do no have a dressing gown as I go out leather clad when the sun goes down.

I always pictured you as an pale Huggy Bear rather than a leather clad vampire.

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