All opinions are mine and mine alone.
Being in debt can feel as if it’s the most restrictive label in the world. Every purchase is considered, and every penny is counted to ensure you aren’t spending money frivolously. Sometimes, you want to splurge and go on a spending spree without the immediate guilt that follows. Aside from the therapeutic nature of shopping, there is a principle involved. You desire the freedom to do what you want to like any other adult would. So, you probably ask yourself every day, “is it okay to splash the cash when I have debts?”
The answer is yes. Although it might surprise you, spending money isn’t irresponsible under these circumstances.
The Purchase Is Offset
If you’re not sure what this means, it concerns the art of buying items with a backup plan in mind. Usually, credit card purchases aren’t too damaging if you plan on paying off your arrears by the end of the month. That way, you get an extra thirty days to find the funds, and you might get paid in a week. Don’t worry if your credit score is low, either, as the likes of ChooseMyCar have your back. They’ll finance a vehicle for the worst-hit ratings, and they aren’t the only companies that accept people with bad credit scores.
You’ve Found New Revenue Streams
Thankfully, increasing your earning potential isn’t as tough as it was in the past. Now, you can sell your old junk and make a lot of money if you have the right business model. And, you can do it from the comfort of your living room with an internet connection and eBay account. Other alternatives exist, too, from claiming benefits to getting help with bills. When you stop leaving money on the table, you’ll have a higher disposable income to spend on things other than necessities.
It Makes You Feel Better
There several ways shopping makes you feel better, and CareerGirlDaily outlines the main ones. However, the point stands that retail therapy is cathartic, which means it’s an avenue to help people get over mental health issues that occur because of debts. Yes, it can seem counterproductive, but sometimes the boost is a necessary evil, especially if you’ve been frugal for a long time. Let’s face it – how big of an effect will $50 have on your finances? It might be minimal in the grand scheme of things, yet a product or service could boost your mental health dramatically.
A Payment Plan Is In Place
Of course, you can’t splurge and add to your already existing arrears. It’s irresponsible as there is no miracle cure. To get out of debt, you have to work hard, cut back, and chip away at it one step at a time. LifeHacker has inspiration for those who require it the most. Still, the fact that you have a plan and are sticking to it proves you’re not immature or waiting for a knight in shining armor. Therefore, the odds are high that you’ll have a way to pay off one more small purchase.
Would you find it worth it if you did all of the above? Or would you prefer to wait until you were debt-free?
Speak Your Mind