Personal Finance

I Found More Than 50 Bags In My Closet, Some I Forgot I Had Purchased Them

While cleaning my closet recently, I found 51 bags and purses. I was shocked as I usually only carry the same bags and hardly change them.My bag closet: 22 handbags bags 12 evening purses 4 backpacks 8 small bags 5 casual weekend bags About 10 handbags and evening purses are still in their packaging and I forgot when I had bought them! Other than bags, there were also so many new clothes I forgot I had bought that were still in packaging.  I was thinking of the amount of money I could have saved up instead of my impulse shopping habits. It’s a wasteful spending habit to buy things that I don’t really need or even appreciate.   The problem also happens when I buy the items and they are left forgotten in the closet. I realised that I need to curb my shopping impulses from then on and not buy things on a whim because they are pretty. Luckily most of the bags are not trend sensitive and I can either use them or give them away.  Imagine how much I could have saved and used the money to invest and grow my wealth instead. Although I did not get into debt due to the purchases, it was a much needed wake-up call.This article is part of TSS Confessions, a weekly column where we delve into personal finance topics that are unscripted and genuine real accounts from people.