Header Ads

Spending Vices and Justifications....and a Giveaway!

One of the biggest financial issues that many people struggle with is overspending. The following article is writen as a guest post in conjunction with ZenithOptimedia and Natwest and details some of the key reasons why people make those damaging spontaneous purchases. ZenithOptimedia and Natwest have agreed to sponsor a giveaway at the bottom of the post. Enter to win £50 of John Lewis Vouchers below!!! It's so easy!

The majority of young people secure themselves a credit card in the event of an emergency; whether it’s in preparation for broken home appliances, food supply before payday or a last-minute train ticket home when the current account has run dry.  All first-time credit card owners’ intend on confining their spending to such circumstances, but then one day it arrives; the unplanned, irrational and crazy opportunity to spend large, and lead oneself into a period of repayments. It may be travel, shopping or luxury bargains that tickle your fancy, but whatever it is – we all have a weakness and a price. What’s really interesting is how we justify our own purchases when we’re standing with card in hand. Here are some impulse buys and their corresponding internal justifications.

1.      “It’s the opportunity of a lifetime”

For all adrenaline junkies, this usually comes in a form of an adventure. A group of friends plan on going skydiving, a mountain biking trip or heli-skiing expedition in Alaska and by the end of the day, the “emergency fund” is maxed out but travel, accommodation and sport equipment is all paid for. It’s an unforgettable opportunity, and this is why it’s a little easier to justify. After all, life is merely a series of experiences is it not, so therefore what better could I spend my money on, right? It’s almost difficult to dispute that.

2.      “It’s a ‘Must have’ Item”

Ah, it’s the definition that allows all justification. It’s a must-have therefore I can’t not-have, or that would be unfair. You’ll notice that when someone else owns that same item, it becomes all the more must-have, which is at least an indication to how fickle your own mind is with such desires. Whether it’s that pricey pair of shoes that you just can’t say no to, or it’s a new games console that your mates have all got, at that very moment in time – you just can’t afford NOT to. Incidentally, if you’re one who’s already ordered their PS4 or Xbox One, you probably belong to this group, having already secured the must-have item of the year for the highest price. And if you’ve whacked that on your credit card, make sure yours is 0% interest on purchases – as most of us would struggle to clear off £400 so easily.

3.      “I’m a Sucker for a Deal”

Groupon and Wowcher are experts at making the population go weak at the knees for a good bargain. This may not seem so crazy at first, but beware the power of a good deal. It starts with the birthday teeth whitening treat at 50% off, a girls’ day at the spa for an outrageous 80% discount, the knife kit with a needless selection or a dress making sowing class. How could anyone resist?

To all first- time card holders, be careful of the persuasive little voice that encourages the impulse to buy. A little spending once in a while never hurt anyone, but all in moderation. Don’t forget what defines an “emergency” and just remember to live within your means.

4.      “This is something I’ve ALWAYS wanted”

For some, a Mulberry handbag is not just something that they have admired through the shop window in passing. Oh no, that bag has been a lifelong desire of theirs, so deep routed that their eyes glaze over in wonder as they reach out to touch that which cannot be theirs. Or can it? With the credit card, it IS possible. And there’s the hook.

It omits a signal which compels them to walk toward the counter and request it from the shop assistant, who is only too happy to oblige. On their walk over, their credit card is in hand – though they don’t remember pulling it from their purse. The thought of securing the bag of all bags – the lifelong desire is about to be fulfilled. No other bag would ever suffice anyway. Not now.

At this point, you’d need a very strong friend to pull you out of the trance.

5. “I need to reward myself”

A real classic in the justification zone. The internal monologue goes something like this:

“I’ve been working really hard lately, and I’ve not treated myself in a long time. If I don’t treat myself now, I won’t feel like I’ve really got anything to show for all my efforts. If I don’t reward myself, who will? I earn money each month, I shouldn’t feel guilty about spoiling myself. And any rate, when was the last time I bought myself something over £300? Hardly ever.”

Hand card over to cashier. Pin. Receipt. Bag. Done.

The guilt will come later so enjoy the absence of it while it lasts.

The Giveaway!

We want to hear what your credit card guilty pleasure purchase. NatWest and I have teamed up to bring you A £50 John Lewis Voucher for the winner in the below competition. For the chance to win the competition, please use the widget and tweet us with your answer, or complete one of the other two tasks. Good luck!
a Rafflecopter giveaway

264 comments

1 – 200 of 264   Newer›   Newest»
Phoebe Landon said...
This comment has been removed by the author.
Phoebe Landon said...

Right, I figured it out! For anyone else that was confused with how to enter, after answering the question, tweeting and following @millionairer0ad, I pressed the big green button to confirm I have made the entries. It should come up with 'done' afterwards.

Tracey Peach said...

Lottery tickets I dont seem able to only buy one a week

Sarah-Louise Bailey said...

Beauty Products and then I think they are too lovely to even use ekk! x

Elaine Savage said...
This comment has been removed by the author.
Emma Nixon said...

A mad expensive moment in hotel chocolat

Gemma Snell said...

Dresses :) i have sooo many that still have the tags on lol

Mr. Moneybanks said...

Brilliant Tracey! You should join a syndicate - it's far cheaper!

Mr. Moneybanks said...

Sarah-Louise! You've bought them so you might as well use them! Don't feel bad!

Mr. Moneybanks said...

Gemma - you can't be expected to wear the same dress twice!!!!

Mr. Moneybanks said...

Hey Emma, there's a 50% off End of Season sale on right now!!! Tempted?

Mary Chez said...

Cadbury Creme Eggs :-)

twannywun said...

Things for the cat!

tabbaz123 said...

Whatever the children (now young adults) need. I know I spoil them but …..

laura banks said...

dvds is my downfall

Alison said...

Kitchen gadgets just can't help myself lol

Megan said...

SHOES!!

PAULA BURNSIDE said...

The sales - especially the Next sale. I just cant resist a bargain!

Jakki Bradshaw said...

Radley handbags :)

anthony harrington said...

technology, always have to try everything techy!

Anonymous said...

I have bought over 300 worth of kit kats as there was a competition on the front to win a nexus 7 & I won 4 :) :) (@bexallum on twitter)

Caroline said...

I'm not a big spender but I just cannot resist nail polish. I fI see a new one that I like, I've just got to have it.

Emma Walters said...

children's clothes, my boys are spoilt & i have holes in my jeans lol

Ane S said...

Beauty products, especially new releases

Anonymous said...

I find John Lewis irresistible! I go in there for my free hot drink and cake, but then get lured in by the luxury toiletries and the lovely homewares! My credit card hates it in there!

@rachiegr

Beth said...

New shoes!! (Especially ones that I can't walk in! Which then results in me wearing them once for a night out, taking them off after about an hour, walking around in my bare feet and then never wearing them again! - but this doesn't stop me from buying another pair the next time I go out!)

Kay Braisher said...

craft items...that I then don't use as I'm scared to waste them!

(my biggest ever splurge on card was 8 yrs ago when i was meant to go out and buy new tyres but instead bought a new car across 2 cards...oops!)

Sarah-Louise Bailey said...

But they can be so pretty! ;) x

kelli flanagan said...

Pandora charms for my bracelet

saurus said...

Handbags and shoes!

Hotrod mum said...

gemstone beads

di dilly said...

Children's clothes are my vice. They have enough already but I just can't resist buying more

Mr. Moneybanks said...

Stock up now before they're taken off the shelves!

Mr. Moneybanks said...

That's one lucky moggy

Mr. Moneybanks said...

...they're you're kids so it's fine!

Mr. Moneybanks said...

What's you're favourite?

Mr. Moneybanks said...

Nothing better than a brand new tin opener!

Mr. Moneybanks said...

Jimmy Choo I assume?

Mr. Moneybanks said...

Really sorry to break this to you..but it's finished :(

Mr. Moneybanks said...

For the bag or the dog?

Mr. Moneybanks said...

Inspector Gadget!

Mr. Moneybanks said...

Brilliant! My friend won a Mini in a KtiKat competition

Mr. Moneybanks said...

I hear Brights are all the range this Spring!

Mr. Moneybanks said...

They can't be seen in anything but the best!

Mr. Moneybanks said...

You don't need them! As we can see from your picture, you're beautiful already!

Mr. Moneybanks said...

Get yourself a Waitrose card for free coffee there as well. You'll be buzzing by the end of your shopping trip

Mr. Moneybanks said...

Maybe try flats next time?

Mr. Moneybanks said...

I hope you got your cashback/ airmiles?

Mr. Moneybanks said...

Have you thought of checking out eBay - some come from Auction Houses as are therefore cheaper

Mr. Moneybanks said...

A girls best friend

Mr. Moneybanks said...

go for gold jewellery in the future. It'll hold it's value better!

Mr. Moneybanks said...

What are they for if you can't spoil them!

Mr. Moneybanks said...

MAC is definitely a good investment...so I hear (I'm a guy!)

anthony harrington said...

indeed! Lol

Hilda Hazel Wright said...

My spending is completely under control even with a credit card. My indulgence is probably M&S food (smoked haddock yum) and Waitrose ready meal currys! Normally we cook from scratch from cheaper supermarkets but we like quality!

tamalyn said...

mine is books, i just love them, but i tend to go mad on amazong downloading lots if i find one i want ha ha

Mr. Moneybanks said...

Never knock an Lydl shop! You walk away with so much food for £5

Kathy Cakebread said...

that figure hugging dress i can't walk away from

dumplingiow said...

more itunes than i should :)

EmmaH said...

I buy more clothes than I need.

Mr. Moneybanks said...

morph suit?

Mr. Moneybanks said...

Sounds...great

Mr. Moneybanks said...
This comment has been removed by the author.
Mr. Moneybanks said...

Whatever happened to borrowing from a friend??? :(

julie laing said...

shoes

Paul said...

Gadgets for my guitar

Anonymous said...

Children !

elisha said...

My vice is groupon deals! I will never have the experience to try them at normal prices!

natalie Eveleigh said...

I spend loads of money on make up....especially nail varnishes :)

Steve Ash said...

Clothing for hiking. I have 5 coats! all for different weathers and activities.

liz ferguson said...

Shoes

piggy11 said...

Make up! Always looking for something better! Never makes me more youthful.

Anonymous said...

Food, I love to eat out as a treat. Though cut back recently due to finances.

Rachel Craig

carowood said...

Holidays

Deborah said...

New workout clothes!

maci234 said...

cars

kate kathurima said...

underware

Angel said...

CDs & records.

Anonymous said...

Lindt creation praline chocolate bars
(kim neville)

Keshia Esgate said...

Clothes!

samj said...

Clothes I never have enough

charlotte clavier said...

Bags & chocolate in that order :)

Debbie Burfoot said...

stationary...I have a real fetish for it i think;)

elaine dale said...

buy one, get one free, even if I don't need it

LynneH said...

Chocolate

Nathan Webb said...

I simply cannot go without a good blu-ray, must have atleast 1 a month! Preferably 3D!!

Karen Cowley said...

typical woman, SHOES, from cheap 1.99 croc style to expensive hotter shoes , just love them . have had to slow down now though . and purses, but never have any money to keep in them lol x

Katharine said...

Clothes for my little one

Anonymous said...

Handbags and shoes

Karen K said...

It's really sad, but nail varnish!

Anita said...

Clothes, it just leads to more clothes and complete outfits. Retail therapy is so much fun

Mr. Moneybanks said...

A common theme in the comments

Mr. Moneybanks said...

Le boutons?

Mr. Moneybanks said...

That's possible???!!

Mr. Moneybanks said...

...an investment in your future retirement!

Mr. Moneybanks said...

Let us know any good deals at the moment?

Mr. Moneybanks said...

I hear metallics are in!

Mr. Moneybanks said...

One for swimming?

Mr. Moneybanks said...

Another one for shoes!!!

Mr. Moneybanks said...

Such a shame! Plenty of sleep and water is the fountain of youth!

Mr. Moneybanks said...

I hope you're getting your two-for-one on Taste Card with those meals? Well worth it if you eat often

Mr. Moneybanks said...

well deserved, I'm sure!

Mr. Moneybanks said...

for that all important expensive monthly gym - you've got to give yourself some time to de-stress!

Mr. Moneybanks said...

How often are these purchases!!!!

Mr. Moneybanks said...

I'm pretty sure that the older you get the more you like to spend on your own underwear. There must be some research out there. I like to treat myself too in that department. Nothing worse than uncomfortable underwear!

Mr. Moneybanks said...

CDs still exist??! Seriously, good on you for sticking them out!

Mr. Moneybanks said...

I've got a cheap solution for you Kim. Fly to New York. They give Lindt chocolates out free in the Lindt store on 5th Avenue.

Mr. Moneybanks said...

Clothes!!! What ever for?

Mr. Moneybanks said...

When you've got a set for every day of the year...,then you've got enough

Mr. Moneybanks said...

Even better: A Prada bag full of Dairy Milk

Mr. Moneybanks said...

Understandable. Nothing better than a big sexy stapler

Mr. Moneybanks said...

You're speaking my language!

Mr. Moneybanks said...

What type?

Mr. Moneybanks said...

I really didn't think anyone actually owned a 3D TV

Mr. Moneybanks said...

Not typical at all - no other woman has said that so far!

Mr. Moneybanks said...

awwwww

Mr. Moneybanks said...

Is Anonymous a girls name by any chance?

Mr. Moneybanks said...

Not sad at all. Nail varnish is a happy thing

Mr. Moneybanks said...

That's why they call it therapy!

lazarus007 said...

Blu-ray's!

Kate Mo Edwards said...

my downfall is dresses i love buying them even though i don't go out much to wear them!

Jadea said...

Underwear...I keep trying to find sexy underwear for the Mr...but then fail to find something I like so buy cheaper every day sets...thus I have to go shopping for the sexy stuff again at a later date...vicious circle.

Sara said...

'I'll regret it if I don't buy it!'

Phyllis Ellett said...

It has to be books, if I go into a book shop for a book, I have been known to come out with 10 or so, I normally end up buying 5 at once.

fozia Akhtar said...

Cute stationery is my downfall!

Mandy Cove said...

anything thats a bargain, then it sits in a box or bag and never gets used, I justify it to my husband with things like "it was half price" or "it was in the sale" @mandsmanc

Garry said...

Holidays, now that I have retired I just cannot resist the internet discounted holiday offers.

Lucia Jefferson said...

Shoes! Even if they are far too painful to actually wear!

Charlotte Ingham said...

Clothes. Clothes. Clothes.

My wardrobe is just overflowing but I always feel like I have nothing to wear...so I go and buy more!

Emma Franklin said...

I spend far too much on the dog

Mr. Moneybanks said...

the fish?

Mr. Moneybanks said...

I'm sure you enjoy wearing them around the house instead

Mr. Moneybanks said...

Lesson for Life: Don't buy cheap underwear. It's not worth the chaffing

Mr. Moneybanks said...

Even a dinosaur?

Mr. Moneybanks said...

Like a real bookshop with real books? Not an ebook from online

Mr. Moneybanks said...

A beautiful looking pencil

Mr. Moneybanks said...

Fair enough if it was on sale! ;)

Mr. Moneybanks said...

If you can't go on holiday in your retirement then when can you go

Mr. Moneybanks said...

Manolo Blahniks?

Mr. Moneybanks said...

I'm thinking you like clothes?

Mr. Moneybanks said...

I'm not sure your partner would approve of this!

Louise Fairweather said...

Children's clothes - they have far too many

Mr. Moneybanks said...

Moneysaving Tip: Have more kids then the clothes will be reused!

caroline kelly said...

Clothes for my daughter! Even when she doesn't need them!

Zoe R said...

Hand wash soap I stock up on it every month because we all use it in my house but I use loads of the stuff

Lowri earith said...

childrens furniture

Phyllis Ellett said...

an ebook is just a large text file, it has no heart or sole.

Isabel O'Brien said...

I buy clothes and promise myself I'll pay it off next month, I rarely do.

Becky Shorting said...

treats and toys for my lil puppy dog!

Graeme Macmillan said...

All reason is blinded by new gadgets for my computer

Vivienne Wilkes said...

Anything for my pets!!

Anonymous said...

Dresses!
Helen booth

Mr. Moneybanks said...

She deserves it!

Mr. Moneybanks said...

Original Source is my favourite!

Mr. Moneybanks said...

little chairs and tables!

Mr. Moneybanks said...

Bad Isabel!

Mr. Moneybanks said...

Sweet!

Mr. Moneybanks said...

I didn't even know that was possible!

Mr. Moneybanks said...

Pets! Multiple??!!!

Mr. Moneybanks said...

Thanks Helen! Treat yourself!

Mr. Moneybanks said...

hahahah! so true

jessica cook said...

Nail varnishes, especially when superdrug does 3 for 2! X

twinlay06 said...

Anywhere there are bargains

Alix said...

Gadgets! totally addicted.

faye huntington said...

Designer purses (for coins, not the American term). I know, stupid. Even more stupid at starting prices of £250 arghhhhhh. AND YOU ONLY NEED ONE PURSE which makes matters even worse. Hopeless! with love, faye xx

Mr. Moneybanks said...

It's so tempting even I might go and get some!

Gillian Holmes said...

Nothing really - having no money is quite liberating that way

Mr. Moneybanks said...

Good on you!

Mr. Moneybanks said...

Somebody call Agent Q!

Mr. Moneybanks said...

Hi Faye, don't worry! All that money's got to go somewhere!

Gwyn Sharps said...

Clothes, clothes, clothes!

Saran Benjamin said...

Clothes because all mine are too big after losing 5 stone

Alexandra Byford-Scott said...

Kitchen gadgets & accessories. We are actually about to put a new kitchen in, to give us more space to home all of the fabulous kitchen bits that we have been amassing!

Gemma Clark said...

Definitely things for my daughter, or gifts for my friends!

Mr. Moneybanks said...

The perils of losing weight! Good on you Saran

Solange said...

Shoes

Philip Cooke said...

Lottery Tickets!

deaddogsmoking said...

Stationary, dull but true!

Katie Walker said...

Bed sheets and arts and crafts stuff

rebecca nisbet said...

my daughter! clothes, clothes, peppa pig comic, clothes clothes

Mr. Moneybanks said...

So you got the new kitchen just to fit your gadgets in!!!

Mr. Moneybanks said...

I hope I'm thought of as a friend :P

Mr. Moneybanks said...

What type Solange? I'm assuming flipflops right?

Mr. Moneybanks said...

I'm writing a post on the secrets to win (well kinda!) the lottery next week!

Mr. Moneybanks said...

You are not alone!

Mr. Moneybanks said...

I should really get into art! I used to love painting

Mr. Moneybanks said...

Who doesn't love Peppa pig!

Mr. Moneybanks said...

I'm a big socks man!

Mr. Moneybanks said...

Aw Gillian. Sorry to burden you if you win the John Lewis Vouchers :(

Pam Francis Gregory said...

Shoes - a girl can never have too many shoes!

Kate ONeill said...

Shoes, because it doens't matter if you're having a fat day or a bad haor day, shoes still fit and still look pretty!

Natalie White said...

Scarves! Can't walk past one...

Steve Smith said...

Clothes for our young daughter.

Christina Jarrett said...

Shoes! I'm awful! :)

Marion Paddock said...

Vinyl records. I am a Vinyl junkie :-)

Rebecca Gransden said...

New Music

olivia280177 said...

Wine, champagne, cocktail bits and pieces.

Kirsty Partridge said...

Shoes or Bags. Love them :)

Mr. Moneybanks said...

one for every day of the year?

Mr. Moneybanks said...

All women are pretty. no need for shoes

«Oldest ‹Older   1 – 200 of 264   Newer› Newest»