Spending Leads to Spending

A couple of weeks after my girlfriend and I went shopping for a new bed, our furniture finally arrived. It was a very exciting moment which I didn’t have the chance to enjoy because I was rushing out the door to get to class.

When I got home our new bed was set up in the bedroom and everything seemed perfect.  Since we were in the market for a new mattress, we took advantage of a promotion in order to get the best deal.  If the purchase exceeded a certain dollar amount they would throw in a flat-screen television for free.  We weren’t in need of a replacement television, however, we did need a new bed so we decided that it would be a good opportunity to get something we needed and something we wanted.

What does all of this have to do with spending leading to more spending? 

Before we had even left the store we “needed” a bracket to mount the TV on the wall. One would think a piece of metal would be rather inexpensive; not so. That bracket cost over $100.  Ouch!!!

I figured that would be the end of the spending, but when the bed and TV arrived we now needed new sheets because this bed was larger than our old one. Off to the store I went.  I was able to find some sheets on clearance and was able to get them rather cheap.  They were even the color that my girlfriend had wanted.

The next issue was the television.  I didn’t have the proper tools to mount the bracket to the wall.  Now a stud sensor and a level were on my list; another $25.  Had we not purchased a new bed or TV, not only would we have been able to save a significant portion of money on the initial purchase, but we would not have had a need to purchase sheets, the bracket or the tools to mount it, saving an additional $125.

I am now running into spending leading to more spending with the purchase of my new bike.  I have a list of things that I could really use if I am going to pursue my new found passion for biking.  Some things are practically necessities like a helmet and headlight & tail light, but others are completely unnecessary like a speedometer and water bottle holder.

I now realize how I found myself in a pattern of spending and buying more and more.  After eliminating my credit card debt and dramatically reducing my spending, I am able to see this pattern, which I wasn’t able to see while I was caught in the habit of spending. 

It is so easy to find something else that is suddenly needed once you purchase something new.  If you buy a gaming system you need games.  Maybe those games require a special type of controller (Guitar Hero, anyone?).  The same concept can be applied to nearly any purchase a person makes.  You buy a new pair of jeans and suddenly a new shirt and some shoes would look so cute with them.

Being aware that spending leads to spending is an important step in overcoming impulsive spending.  Planning your purchases in advance will help you know what you will need as a result of having a new item in your life.  You can plan accordingly and not get blindsided by the cost of “the extras” you forgot to consider.