*This is a repost from my old blog*
My parents always worry that I might get myself in a debt since I have this tendency to splurge regularly, and I’m pretty much an impulsive shopper. If I find that I want something and I have enough money in my wallet or ATM card, I buy whatever it is that I want at that moment. The good thing about me is, I never regret my buys, so that’s okay I guess.
I’m not saying that impulsive shopping is good. It’s not. You might end up buying for a lot more than you should and you will that you have to borrow money from someone in order to sustain yourself until your next paycheck, or in my case, allowance.
You see, if it’s all the money you have, that’s all the money you can spend. Never spend the money you don’t have. For instance, borrowing money from your friend in order to pay for your dinner, then for fare, and then before you know it, the amount of money you owe that person becomes too big that you will have a hard time paying it off. And your next paycheck will be for the ones you owe money to, and then you will have to borrow money again. It’s a tough cycle.
My parents always remind me to never live above my means. They meant that in terms of material things that I buy on impulse, and the lifestyle in general. If I can’t afford it, I shouldn’t buy it. If I can’t live it, I should just stay in my zone. I should not depend on my friends to sustain me, or pay for me when we go out because let’s face it, we’re all students (or young professionals) and we are not really financially independent yet. Even my friends who already have jobs.
And there goes the reminder again that small things do count. For a lot.
Because even the things that are very slightly out of your budget just might be the reason why you end up having an empty wallet or bank account before the date due. And if your friends have more money than you do and you’re with them a lot, then don’t get used to their lifestyles because when you get back to your real world, you’d go looking for a lifestyle that you honestly cannot afford, and that’s not good.
I’m not saying you can’t borrow money, ever. There are instances that you can’t help but do so. But if you do have debts, then pay for it in due time. Don’t make your debts bigger by spending for unnecessary things. Don’t go for something out of your reach, settle for what you can manage.
And if you really want that seemingly better, more expensive lifestyle, then work for it. Hard.
So there you go. I’m glad my parents instilled this on me. I basically have no savings right now, but hey, I am still starting to learn how to budget properly, so give me a break. =D
Class isn’t about having expensive things. Class does not necessarily mean rich. Being classy in this aspect is about you, accepting yourself as you are, and accepting that no, you can’t live an expensive lifestyle. It’s accepting that your wallet has a limit, and frankly, it is classier to admit that you can’t afford something rather than be in debt because of luxuries you can’t afford.
Keep it classy, and remember that class is a lifestyle, not a pricetag.