Wednesday, June 10, 2009
Shopaholic
10-JUNE-2009:
A while ago when someone recommended me Sophie Kinsella's Shopaholic series, I picked up 'Shopaholic & Baby' from the library, which is the 5th and last book in the series, because that was the only one I could find in the library. It was a good book and very entertaining, but it didn't go much into the 'shopaholic' bit of the story. Last week, I finally got hold of the 1st book, i.e. 'The Secret Dreamworld of a Shopaholic', and I find it realistic and enlightening, apart from being hilarious and extremely fun.
At one point, my dad owed more than RM40,000 to his credit card. I'm actually very ashamed to tell you this and I could never understand how he did it. Apart from that, when he reached the eligible age, he took out all of his EPF money (which should be around 100k) and he spent it all AND STILL didn't manage to pay off his credit card debt. At this point, I didn't want to know anything anymore about his financial situation. I couldn't understand how anybody can be so careless with money, but after reading this book, I now do, although my dad is not a shopaholic ... he just ... I don't know where he spent his money.
The leading character in the book is Rebecca Bloomwood who works as a financial journalist, i.e. writing articles teaching people how to manage and invest their money. She earns �21,000 a year, which is the average income for a fresh graduate in London (I think). She hates her job and has no idea what she's writing (she attends press conference for new financial product launches, such as a new unit trust, a new investment scheme, etc and she writes her articles by copying from the press pack), and her favourite past time of all is shopping! In fact, she can't help buying stuffs. �90 for a pair of contact lense is essential, she would say. You can't expect anyone to walk around in a blur. Note: Normally, a pair of contact lense will only cost about �20 if I'm not mistaken. She would buy something on sale even though she doesn't really like it because she says, it's actually "saving money". She would buy 3 bottles of moisturizers instead of just 1 (although she doesn't need any) just because there is "double points for every moisturizer purchased". It's investment, she says, because eventually she will need to buy moisturizers anyway. Do all these sound familiar to you?
There was one scene that really gripped me. It was a bad day for Rebecca and she feel a little bit down. So what does she do when feels down? She shops, of course. But what would she buy? There isn't really anything she needs. I know, she says, I'll get a lipstick and off she goes. But wait a minute, Clarins is having a promotion - buy two skincare products and get a beauty bag FREE! And what's even more fabulous is that included in the beauty bag is a lipstick! Didn't she want to buy a lipstick in the 1st place? Hahaha ... so she bought two skincare products that she doesn't really need and got a free lipstick, which she doesn't even like the color of. Let me tell you that this pomotion (i.e. buy 2 skincare and get a beauty bag free) is very common here. Everyone does it all the time - Clinique, Estee Lauder, etc. I see it all the time in the newspapers.
Rebecca's debts are mounting and the banks are after her. So she decides to 'Cut Back'. First, she buys a self-help book on cutting back her spending - investment. From the book, she learns that instead of buying coffee, she can make it at home and bring it to the office in a flask - good idea. And she sets out to buy a really nice posh flask - investment, a coffee blender - investment and a nice bag of coffee beans. She also learns that instead of ordering take-out curries (which she usually does with her flat mate), she can cook her own curry - it only costs �5 a meal for 4 persons, says the book. But first, she needs to buy a pan - investment, an apron - investment, an electric grinder to grind spice - investment and all the various spices - coriander seeds, fennel seeds, cumin seeds, etc, etc. Actually, this part was hilarious. After all her "one-time investments", she decides that 'Cutting Back' is not her answer and she should try 'Making More Money'.
Meanwhile, her debts are mounting and she gets more and more depressed. And when that happens, she goes shopping and buys more stuffs because retail therapy is her answer to everything. I realize that people like her really do exist. People with multiple credit cards and owing tonnes to all of them. People who dress in Armanis and look really posh but are living on overdrafts. I used to hang out with this girl friend who earned about half of my salary but boy, I always felt poor when I was with her. I'm not saying she lived in debts but I guess she just didn't save much. Anyway, the year I got pregnant with Dom, she got a new job and has ever since been a high-flying career woman. Never mind that she didn't save, because she could make more money.
Finally, after I've finished the book, the most profound conclusion I got is that 'Cutting Back' never works. The only solution is to 'Make More Money' - whichever way you do it.
