Confessions of a Shopaholic was the fourth book I read for my book challenge. It was absolutely hilarious. I just could not believe what the main character, Rebecca Bloomwood got herself into. Rebecca is a recent graduate and a financial writer for a a company called Successful Savings. You would think she was an expert on financial matters, right? Well, she does know her stuff but her love for shopping and her love for the finer things in life seem to overpower her common sense.
When Rebecca shops, she is exhilarated. No matter what emotion she is feeling at the time, it leads her to shopping. The problem is,she doesn't have the paycheck to cover her expenses. Instead of fixing the problem responsibly, she ignores it until of her accounts have been frozen. What happens next? Well you will have to read the book.
Interestingly, I learned a lot from reading this book.Some of the lessons weren't new, but this book reinforced why they are so important. Here is what Rebecca taught me:
1. Always be prepared. Becky's problem only catches up with her when she looses her job. Up until then, she managed. This is where I am reminded to have an emergency fund and to focus on paying back debt. That way, if circumstances change, I have the resources to get from one day to the next.
2. Owe up to your expenses. Don't pretend that you haven't spent money. Keep a log of everything you buy and set a budget. This will keep you on track and warn you if you are falling off of it.
3. Don't let interest pile up. If you don't pay back debts in a timely fashion, they accrue interest. This can add up quickly, even to the point where sometimes it makes the debt almost impossible to pay off. Always pay more than the minimum payment.
4. Have debt integrity. Rebecca constantly covers up her debts, even to the point of lying to people. If you owe money, make the changes you need to to pay it off. Don't beat around the bush.
5. Don't rationalize. Expenses are expenses and twisting the math doesn't make a difference. Determine what your needs are and what your wants are and keep them separate. This will help you priorize your spending and make sure you don't buy things you can't afford and don't absolutely need.
This book was an awesome reminder of what not to do. I really enjoyed reading it and I can't help but want to read the entire series by Sophie Kinsella. In fact, I have already started on the second one.
Miss T has written 579 articles on this blog. Hi, I am Miss T and I am the owner and head writer of PrairieEcoThrifter. Each and every day I am working to live a money savvy, healthy, and green life.While you're here, consider signing up for the RSS feed or email subscription . Both deliver the latest articles directly to you everyday. Have a Twitter , Facebook, Reddit, Stumble Upon, or Digg account? Then follow me for all of the latest posts or to send any comments or questions.
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