It's been 27 days since I committed to shopping in my closet only. And in the spirit of transparency, I have to admit that I bought a red dress using a gift card that one of my close friends had given me and found that I had to pay the difference between the cost of the dress and the value of the card. I paid $18 for a Calvin Klein red sheath dress that fits me well, which I plan to wear as soon as the weather permits. Yum!
What made me feel not so bad about the $18 purchase (even though I did deviate from my initial SMART goal) was that I spent a larger part of my time in department stores during on the onset of 2011 on a "returning spree." Let me be the first to coin this phrase. The "returning spree" is the inverse of the "shopping spree". Instead of going to stores with the single-minded focus of spending money and cluttering your home with unnecessary items, a "returning spree" seeks to increase your income and remove unwanted, unneeded items that clutter your home and possibly your spirit.
Preparing For Your Returning Spree
1. Don't Discriminate: Do not limit the focus of your returning spree to apparel, services such as internet, cable, Netflix, and the like are also fair game. Think about electronics, houseware, and insurance that you have left untouched or do not suit your needs as well. Also, be open to returning everything possible,(assuming that cost of returning an item is not greater than the actual value of it) every little bit helps.
2. Receipts and Return Policies: If you do not do so already, hold on to the receipts of your purchases for as long as the return policy states. If you have buyer's remorse, your receipts and knowledge of your rights as a consumer, will neutralize that feeling in addition to raising your cash flow.
3. Be Prepared For Resistance: Luckily, the Duane Read cashier said nothing to me when I approached her register, took out my crinkled receipt, smoothed it out along the edge of the counter, and asked that the full $5.87 be credited to my credit card account, patiently waited for her complete the transaction, and check my new receipt before exiting. Perhaps she knew the value of money, perhaps she was thinking about her lunch break, perhaps she was thinking about a possible ringing in her left ear. Either way, it was not my problem to justify my money moves or shift my financial thinking to be more aligned with hers.
4. Have a Plan B: Maybe you lost your receipt or a tag is missing. Ask to speak to the manager to see if store credit or partial refund could be arranged.
5. Leave the Store, Do not Browse: Your purpose for entering a store is to return an item in order to increase your income. That means that you should not find yourself walking around the store, looking to purchase something. Though tempting, it will sabotage your financial bottomline.
Post-Returning Spree Decisions
Earmark the Savings for Paying Down Debt or Increasing Emergency Fund: Try to conduct all post-returning spree payoffs within 2 days of the big event as not to lose momentum or "nickel and dime" yourself back into the red.
Involve Your Friends: Tell your friends how easily you were able to jump-start your journey toward financial fitness. You can also barter items that you were unable to return with groups of friends. This makes saving not only financially rewarding, but socially responsible as well.
All Good Things Come to An End
I will be happy when I no longer have to rely on "returning sprees" to increase my income. When my financial decisions are clearly aligned with my priorities, I will not have to return several impulse buys or reconsider a service because I would have done the financial thinking beforehand.
