Today, Sui Ling is going to talk about how she was managing her money really well but ended up revenge shopping like as if money grows on trees.
When the Movement Control Order (MCO) was implemented due to the rise in Covid19 cases, many shops and businesses were forced to shut down. This meant my favourite past-time of unnecessary spending money couldn’t happen anymore. In a way, this was a blessing in disguise.
The first few weeks of MCO felt like I was purging from an addiction that was shopping. Except for that one time I spent around RM269 on Animal Crossing (Nintendo Switch Game), that was strike one of my “revenge spending spree”. But, I had to get it because everyone had it and I was going through FOMO being stuck at home.
We could still shop online during the MCO, but the downside of it all was not knowing when the goodies will arrive (I am a very impatient person) because deliveries were delayed. The stress and frustration I felt throughout the MCO while browsing for things (I didn’t necessarily need) were unbearable. But the good outcome of this all was I was actually saving a lot of money.
Fast forward to when MCO was slowly being lifted. Shoppers rejoiced!!! Businesses and shops started to operate as usual, which meant shopping malls were reopening too! It was at that very moment I knew, my bank account was f***ed because I could finally go window shopping and spend my money.
I had a terrible case of “revenge spending”, I admit. The second strike of my revenge spending was when I visited my favourite makeup store. I felt like a kid in a candy store with its variety of makeup and skincare. I came out of the store, with a bag filled with new makeup and skincare that I will most probably not use, unsure if I should be feeling happy or beat myself up, but oh well the deed is done.
My third and last strike of revenge spending was spent on my hair. When the government announced that hair salons could reopen, I was ecstatic. I quickly made an appointment with my hair dresser because I was starting to look like an unkempt (homeless?) person with my overgrown hair shape and dried ends. For privacy reasons (and because my bosses read this), I will not disclose how much I spent that appointment (later boss will think I have lots of money, which I don’t).
Looking at my bank account, I was stunned and shocked at how much I could spend in such a short span of time. I could have spent that money on things I really needed like new tyres for my car (and maybe an iWatch).
Revenge spending is a dangerous behavior I do not wish upon anyone. Please save your money guys, don’t be like Sui Ling. Do not chase for temporary happiness with material things and fancy hair treatments. IT’S NOT WORTH IT. Instead, why not revenge spend it on investments and such to grow your wealth.