Wednesday, September 17, 2008

Money, Money, Money, Mo-ney: We are in an economic catastrophe but guess who’s still shopping?


FALL MEANS BACK-TO-SCHOOL SHOPPING! Don't believe the hype...

Okay, so I didn’t plan to blog on this topic until the weekend when I had a moment to flesh out my thoughts but I gotta get some stuff off my chest. In light of the recent ish that has gone down in the finance world, I needed to post now and find out what others were feeling. In hindsight, maybe my boy Ans was a catalyst for this post. First off, I must admit my knowledge of the financial industry is quite limited. However, one of my friends who traveled with me to South Africa is an auditor and over dinner one night she attempted to explain the significance of the recent Freddie Mac and Fannie Mae events. I still don’t understand most of it but I know that basically, ish is really effed up. And then the news of Lehman Brothers on Monday and AIG yesterday just put alcohol on an open wound. (And am I crazy for wondering where our country got $85 bill from?)

And I’m sure there is more to come.

Hey, I have no right to criticize how other folks spend their dough because my own financial house is not completely in order. I’m trying but I certainly have my moments. C’mon, do I really need a Freakum Dress? (Btw, I am going to find one for much less than $200 now.) I believe in balance and moderation. You know, working hard and playing hard. But folks who break their necks to get spanking new outfits for themselves or their children to wear on September 2nd is bananas to me. In most parts of the country, it is still hot when kids return to school. Who made the mandate that "summer clothes" couldn’t be worn after Labor Day? Said person should be fired! I plan to wear my summer threads well into October and will transition in fall pieces as necessary. Sure I already have my eye on a couple pairs of boots and a coat or two but I know those items will probably be on sale in a few weeks. Most retailers will be aiming to get their holiday merchandise out by mid/late October. And because of the disappointing year most have had in terms of sales, they will be trying even harder than usual to make up for it last quarter.

Perhaps because I wore a uniform to school from first through eighth grade, I don’t get the desire to wear something new the first time a little chill hits the air. Especially since I’m not a trust-fund kid. Truth be told, old money is rarely pressed to show off new wares every season anyway. It is the rest of us (and the new money having peeps) who have accepted that role.

I realize how important image is to most of our careers but as my mother says, I can’t let my wardrobe get on my dinner table. (Leave me a comment if you don’t get that.) In a couple of weeks, I am gonna try to make another trip out to Beacon’s Closet. And I’m keeping my rule of waiting at least 24 hours before I buy something - if it is meant for me, it will still be available the next day. Although I don’t have children of my own, I am not buying any of my nieces or godchildren clothes for a minute. Books, savings bonds, dance/piano lessons are much less depreciating.

How are you trying to save money in our current grim economy but still stay fly? Have recent events with the stock market and such made you rethink dropping a G on that new purse?


Happy Born Day BLB, Sr.!
I miss you much.

1 comment:

evmc said...

I've been spending too too much lately, putting some impulsive purchases on the credit card: a Kindle and an Ipod, in particular. I also made a couple of necessary clothing purchases, but only because I really DID need them: two new pairs of fall pants - because of a recent weight loss my only pants were jeans. Anyway, I have pulled myself together and stopped using the plastic. I do believe that clothes can be a good investment, especially if you need them for your job and if you choose classic pieces, but you can do that wisely and without using credit.

I'm going into "cash-only" mode for the forseeable future - my 401K is suffering terribly from the last year's up and (mostly) down in the market. I DO need to be able to retire in a few years.

Thanks for writing about your trip!
Ev