Delayed Web Gratification

You could say I live on a fixed income. I receive Social Security Disability and while I am a freelance writer, those checks aren’t regular enough to get me out the “fixed income” zone. As I’ve chronicled over the past few years on this blog, I’ve been working very hard to become better with my finances. But a few years ago, I had a real problem living within the confines of this under $1,200/month income: I was (almost) an online spendaholic.

I looked into Spenders Anonymous where I learned to reign in my penchant for buying gourmet chocolates for Christmas presents and other sumptuous, out of my reach birthday gifts from the web. I might have even surfed the Internet to buy a new couch, new stereo equipment or other large household items. The UPS truck knew its way to my door by heart! In short, I was hooked.

My advice is to delay, delay, de-lay buying any stuff. Give yourself time to think it over. If you really want to get out of debt and make do on Disability, your goal should be to save, save, save and stay ahead of your monthly bills, maintain your car as required and pay down your credit card (singular in my case). Then see what’s left over. Don’t blow it. On Disability, or any fixed income, the last days of the month are the hardest financially.

So why did I overbuy? Buying on the Internet filled an emotional need for me for a moment. I felt more well off than I truly was. This spending high was squelched when I saw my bank account dwindle. It was no win. I stopped cold turkey.

Today I buy what I need (not often what I want) which is a budgeted modicum of clothing, groceries, gas, rent, and utilities. With the occasional indulgence of dining out somewhere nice for lunch once a month or so. You gotta splurge now and then.

But basically, now I only spend what my banking website says I have in my debit account by not letting the balance go below a certain amount each month. I feel better about my finances when I do without what at the time seemed so enticing online.

As I wrote in a previous blog, I email friends before clicking that last Purchase Item Now button on Internet sites like Amazon.com (books) or Overstock.com (gifts). Simply getting off the site and checking with a sponsor or financially-sensible friend can help me avoid another unnecessary debit card depletion.

Delay gratification when web surfing and you’ll necessarily speed up your savings. At the end of the month, when you assess your savings, you and your bank account will be glad you did - without.

Cindy

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Cindy Battles is a freelance writer based in Rutland, VT, winner of the National Disability Institute’s 2008 Blog Contest and a regular contributor here on the Real Economic Impact blog.