Lately, I've been trying to resist summer spending. And I've found a tactic that works pretty well to deter me from a purchase.
Really, I need to give my mother the credit. See, when I was younger and would beg incessantly for something, a frequent response from mom was, "Barbara, it would take me X hours of work to pay for that." It always got my little mind thinking.
And once you start making your own money, it makes you think even more.
In my opinion, one of my generation's 
biggest struggles is really considering the value of something before you purchase it. We tend to just throw our money down instead of evaluating what it will actually take to buy the item.
Implementing my mom's logic has helped me get my arms around what an item will really cost me. Next time you're out shopping, try it! Make $10 an hour? You'll need to work five hours for those $50 jeans — or a whole day for that $80 to buy a couple new video games.
Kind of puts it in perspective.
Recently, I've been searching for a new dress to wear to summer weddings. After browsing online and selecting some options , I ran the numbers. Turns out, some of my favorites would cost upwards of a whole day at work! A new dress isn't worth that much to me!
Looks like I need to adjust my price range to around two or three hours…or not buy a new dress at all. As Staci just reminded me after popping into my cube, I already bought a dress quite suitable for summer weddings.
Drat! Why does she always have to be so practical?
See, thinking of it as "I'd have to work a day to buy that" wouldn't work so well for me; I could easily work a day if at the end of it someone would say "And here's a nice suit for your hard work."
But a friend of mine in college had a really good idea when it came to buying frivolities. He would save until he had *three times* what it cost to buy the game/gadget/whatever, and then decide if he still wanted it or if he could think of a better use for the money.
That one works pretty well for me. Even when I do decide to go out and indulge, I still don't feel bad because I have twice the indulgence's cost in the bank.
I also know a couple who every week give themselves $20 each of entirely discretionary money; money for which they don't have to account to the other in any way. One tends to spend it on lunch out and other things, but the other tends to bring lunch to work and hoards the money. He says he likes seeing the money grow and knowing that eventually he can buy something really spiffy without having to worry about anyone (including himself) questioning the purchase. The rest of their money they combine and are pretty frugal about it.
Here's a thought for all of you just getting out of college: start being frugal *now.* Just as with an IRA or 401(k), the earlier you start saving, the better off you'll be in the long run. If I'd learned to be as frugal, say, ten or twenty years ago, as I am today, our financial situation would be *very* much different.
/lecture...
This post made me really sad. The cheerful manner in which you describe denying yourself reminds me of an awful story a friend from high school once told me about how her mom taught her to "taste the ice cream, and then spit it out" to save calories. Splurge, live, enjoy. You are only young for a little while, no matter how much money you make, so look as good as you possibly can, and enjoy your life.
@ Rob -- I like the tip, thanks for sharing. I'll have to try that the next time I'm looking at buying an item and end up with some savings, too!
@ Bo -- It's not about denial, it's about living within my means. Splurging is ok now and again, but shouldn't be the norm. You don't always need to spend to live and enjoy. P.S. I must confess that I did buy a new dress. But instead of $150 I spent $50 and I made sure it was something I'd be able to wear to work after the wedding ... and I looked good! :)
Bo-
Your post actually made ME really sad. Our society is very engrained with the "instant gratification" mindset. Why wait? Put it on the credit card and enjoy your life. THAT is why so many college kids get out of control with their student loans. They buy iPhones with the extra money they have leftover...and then struggle when they graduate to repay their huge debt. Splurging now can lead to restrictive lifestyle later. I completely agree with Barbara- live within your means. Learn the difference between "want" and "need"- you may WANT a $250 pair of shoes, but do you actually NEED them? You can look as good as you possibly can and enjoy life WITHIN your means. There is absolutely no reason those two can't coincide. I refuse to believe that living an enjoyable life requires me to spend more money than I have. Rather, I like to think that by being responsible now, I'm setting myself up for a pretty nice adulthood and retirement.
"Hey Big Spender" - I couldn't agree more!!!