Up again

What's a story without a little drama? We get to ask ourselves, will she make it? At this point the answer is still out there.

My debt has increased in the last month or so. I was on the road from June 10 until about July 20, which created quite a strain on my financial resources. Then I moved into my new place, assumed a huge debt, and went out to buy new stuff.

Oddly, I don't feel awful about it. I don't expect to be buying stuff for the house constantly. I still am going out there to fill in some gaps (yesterday a new hose and hand-held vacuum) but the spending has slowed and I expect it to get down to a trickle. More importantly, I am okay.

I was determined, when I moved to my new house, to make a fresh start. This meant not taking old furniture with me, not even taking old plates and glasses. I did bring a lot of stuff with me (there is still a storage building waiting to be emptied) but most of the furniture is new.

My vision was that I would accumulate enough savings to be able to furnish the house without taking on further debt. That didn't happen. But neither have I been recklessly extravagant. At this point I have enough to live. I am no longer feeling pressure to run out for sheets or towels or cleaning supplies. So I can take breaths and look for what I want in a more leisurely fashion and even buy some things from thrift shops. I'm looking for mirrors.

Sunk Costs and Regret

The book, The Paradox of Choice: Why More Is Less, has invaded my brain. In a good way. The discussion of regret and of "sunk costs" in particular are concepts that are well worth thinking about.

"Sunk costs" are those costs you have already paid for an item or service. People in this country have a tendency to pay too much attention to sunk costs as a determinant for future actions. For example, if you bought a ticket to a concert you will likely feel compelled to go to the concert because you paid for it. The better way is to make the decision to go or not go based on what you actually want to do. The money is gone either way.

Yesterday I paid for new lenses for my current eyeglass frames. I paid a lot for these lenses and as soon as I left the store I started to regret it. But it is done. Regret serves no purpose, unless it is to use it to decide how I will approach such purchases in the future.

I have a rule about not buying an item from someone over the phone or at the door the first time that person calls or comes by. That rule has served me well. It gets me out of having to make a decision until I have given it more thought. I simply tell the person, "I have a rule...". That person usually says, "Yes, but if you buy now you'll get this deal. If you put it off you lose the deal." I shrug and say, "Well, that's too bad but that's my rule."

I can now make a rule about such things as these glasses that when the purchase is some amount over what I expect that I will delay the purchase. I may still buy them, but I'll feel better about it. As for this time, I refuse to dwell now on the negative aspects. I have simply created a new rule that will help me in the future and I will enjoy those new lenses.