Worst Justifications for Spending You Have Ever Heard

[Caoineag]

Okay, for the sake of curiousity and humor. I know I have heard some whoppers and would love to hear yours.

A big one for me that I will never forget, said by someone who could just barely afford the house she had upgraded to, "I had to cash out my IRA to buy new furniture." She actually believed it too. Then she and her husband went and bought new cars.

Another said by a guy my age, going to college and making about the same as my husband, "Once you have had $2000 per bottle alcohol, you just can't stand the $200 stuff." You don't want to know my response at the time to that one.

Unfortunately said by my very dear friend about buying a car she really couldn't afford, "I just felt so grownup going and buying it on my own." (The only one of the three quotes where the person eventually realized why that was a very bad justification.)

So what are yours? Given the peer pressure some of you experience to spend, I am betting that some of you have some pretty bad ones.

[AmbitiousSaver]

The worst ones probably came from me myself... having to learn the hard way

Although one of my good friends said once "My Dad told me you'll always have a car payment so you might as well just account for it."

This was the same person who sold her condo for a 100K profit and then bought a brand new home on an interest only loan cause she was going to sell it in 3 years and the value would go up..... she said this in early Jan 2006

As you can see I need to work on hanging out with a financial saavy crowd

[moneybags]

We can't afford for one of us to be a stay-at-home parent....driving away in her new BMW.

[gamecock43]

I have heard plenty (read my long ass rant). However, I am my own worst justificator. I was so sick of feeling 'pressured' to buy that I slammed on the breaks and shouted to the world "I say NO!" and then once my long ass rant was over and I had written down how smart I am to rent over buying I felt better about my station in life, felt better about my financial savvyness, and promtly typed in realtor.com to look at some listings.

Yes- I am a complex person. Seems I talked myself into believing that I am smart enough to buy a house because I am smart enough to realize I should not buy a house. Talk about a 'worst justification you ever heard' LOL.

[disneysteve]

Originally Posted by moneybags

We can't afford for one of us to be a stay-at-home parent....driving away in her new BMW.

That's right up there with my friend who said, "I have to work or else we couldn't afford daycare."

[aevans1206]

my sister recently said regarding the gas crisis, "what are we going to have to do? use our credit cards to buy gas?" can you imagine? millions of people using credit and getting into debt TO BUY GAS!!! my opinion: move closer to where you work; carpool; buy a cheaper, smaller car.

[disneysteve]

Just this past weekend, my sister-in-law, who just got back from a 10-day vacation at an all-inclusive resort in Mexico, said that as soon as they pay off this trip, they'll go into debt again to take another because "if we waited until we could afford it, we'd never get there."

[pearlieq]

The one that nauseates me the most is "I work hard, I deserve it".

No one "deserves" to buy something they can't afford. If anything you "deserve" to have the peaceful sleep of someone who lives within their means.

[poundwise]

I think the number one statement, in some form or another, is:

"Live a little!"

aka

"Life is short!"

I'm not sure how either equals "spend, spend, spend like you don't have a care" but somehow it seems to for some people.

[MonkeyMama]

Originally Posted by moneybags

We can't afford for one of us to be a stay-at-home parent....driving away in her new BMW.

That reminds me, I often have the one-income talk with my friends. Where I sit down and show them without daycare, taxes on a second income, working expenses, etc., they could afford to stay home (even if just for a short while). Anyway, so the result of "I am miserable because I can't stay home with my kids" often end up, "Well, I couldn't do that, because I'd have to give up my tax refund!" I've heard that one too many time to bother any more...

Along the same lines, someone who had a planned pregnancy but worked for the state told me once she couldn't afford one day of maternity leave because she didn't get disability. I Was lucky because I got state mandated disability insurance, and she had opted out. ???

Believe me, if I planned a pregnancy and worked for the state, I would have signed up for disability insurance. Doh! Almost as if someone held a knife to her throat and made her opt out of disability insurance. She told me I was "lucky."

Anyway, the double edge sword on that is I lived on no income for a time with my maternity leaves - my spouse did not work. She was merely the second income as her spouse was the main breadwinner. So I didn't understand her excuses in any way shape or form. (My 2 leaves were both longer than disability).

Kind of sad, really.

A little off topic, but just reminded me, as far as stupid things people say...

[disneysteve]

Originally Posted by poundwise

"Life is short!"

Also, "The kids are only young once."

[rob62521]

I've heard the "I deserve it because I work hard" more times than I could count, but along with that is "I had a hard childhood and so I deserve to treat myself."

Or, my all time favorite, "Well, it was on sale and I couldn't pass it up." or "I got a really good deal." Hmmm, getting a good deal and going into debt?

[sweeps]

Playing the lottery: "You gotta play to win!"

Taking out a home equity loan: "It's a tax deduction!"

"I'm expecting a big inheritance from my parents."

[pearlieq]

Originally Posted by MonkeyMama

She told me I was "lucky."

Yes!

It's not strictly a justification for spending, but it drives me bonkers when people attribute financial success to luck. I suppose it plays a certain part (I wasn't struck by lightning today--what luck!) but it has so much more to do with choices and hard work.

[LivingAlmostLarge]

I deserve it. I hear it from DH enough, but I have to admit I don't think he says it as much as others.

[LuxLiving]

"It makes me happy!"

You're happy about sweating how the CC is going to get paid next month????

[FrugalFish]

Years ago, before the era of super easy credit, a friend of mine had accumulated over $100K in CC debt. This did not include any car payments, no house payments, and no student loans. She was not even sure what kind of junk they spent it on- guessing things like clothes and eating out, or whatever she desired in the moment. She always said:

"You can't take it with you, so get as much as you can while you are here."

We always wondered if they would reach "critical mass" on their finances- when the credit was all gone and they could not maintain their lifestyle. It never seemed to happen though. I don't know what her finances are like now- don't care, but I suspect her mindset is still one of max-it-out and get as much as you can.

[poundwise]

Similar to Frugal Fish's friend, I recently heard someone state that if they have a purchase balance on a credit card and then die, they win. (i.e. - Having had the benefit of the purchase(s) without having paid for it.)

Pathetic.

[PrincessPerky]

"It was only X amount, how could I pass that up?"

even a penny on something useless is still a waste IMO, my MIL uses that line all the time when she buys something that doesn't fit...though in her defense she has the money to waste.

On the constant car payment, my FIL believes that as well, he figures once you pay off a car (or if you buy in cash) you should be saving the same car payment for the next one, and/or for repairs...but he isn't talking about always buying a new car or anything.

[Caoineag]

Ah yes, one I forgot "But it was on sale!"

Try explaining to them that it would be cheaper to pay full price than to buy on sale when you only make the min payment...