My husband deployed shortly after our wedding, leaving me behind with a partially-furnished house and many weekends to do some major damage decorating it in his absence. I worked such long hours during the week that when Friday night came around, I’d unwind with a cocktail and visit my favorite online shops to “browse” all the pretty eye candy.
In less than two weeks, I’d racked up what was, for me, a pretty hefty credit card balance. Despite having only purchased items that were on sale or clearance, I’d still managed to spend a pretty penny on picture frames, glass drawer pulls, a bathroom mirror, brand new bedding for our guest room and much more. Now, I’ve always prided myself on being frugal, paying my credit card off in full every month and deliberating forever before making most purchases, so I was shocked when I opened my credit card statement the following month. I reasoned that my income was substantial enough to cover it, that I worked hard and deserved a little frivolity, not to mention the fact that my husband and I were saving mad cash while he was overseas. I’ve since come to learn this is a very common mistake many military wives make.
Having worked in finance for so long, I’ve seen firsthand the devastation that spending and maxing out credit cards can bring. Granted, $1000 is far from major financial devastation, however, it can certainly lead to it if not curbed early on. My husband and I were always very diligent about saving but at that time had not set a budget for monthly spending. So I figured, with my husband away, there was never a better time to set a budget for myself and work towards staying within it every month.
I know it’s difficult to stick to a budget when your husband is away, especially when his paychecks are tax-free, but ask yourself this: which would make you happier-tons of stuff or the swell in your bank account every two weeks? Setting a budget can be fun, mostly because it causes you to be creative in how you spend your money. Believe it or not, setting a budget completely changed my shopping habits. Check out how:
24-hour rule. I learned this from David Bach’s Smart Women Finish Rich: before making a purchase for anything with a price tag of more than $100, give yourself 24 hours to decide if you really need it. This worked especially well for me when I wanted another pair of Citizen jeans. Did I really need them? No. Did I cut back on other purchases, namely eating and drinking out, for a few weeks to justify them? Definitely. Sometimes a larger, unnecessary purchase can be justified if it’s within your budget and you find ways to cut back in other places.
Look for discounts. Discounts are everywhere, you just need to know where to look. Wherever I go, I always ask if there is a military discount. You’d be surprised who is willing to give you 10 or 20% off your purchase. Case in point: I was in the Outer Banks this summer at a small boutique for pets. As the cashier, who was also the owner, was ringing me up, he saw my military ID and gave me 10% off my purchase then and there.
TJMaxx, Home Goods and Marshalls are great places to find designer clothes, shoes, cooking and decorative items at discounted prices. I’m a big do-it-yourselfer and love to refinish furniture, so when I see a piece that is banged up and could use some distressing and a coat of paint, I ask for the discounted price. They are more than happy to get rid of damaged inventory and usually make a hefty price slash.
Become a member. Hugely popular websites like Haute Look and One Kings Lane are members-only shopping sites that offer wholesale and drastically discounted prices on fashion and interior decor. Items are for sale for 24-72 hours before stock is refreshed.
Get free shipping. Shoe sites like Endless.com and Zappos.com offer free overnight shipping and returns on all their inventory. If you don’t live close to a metropolitan area with decent shopping, this is a great way to get fabulous footwear at reduced prices and free shipping!
