Time to buy more or less toys?
I read a fellow toy blogger, Kenny’s recent posting about how the current financial crisis is not sparing toy collecting. So is now a time to buy more or less toys?
If you have been setting aside a monthly ”Play” account like me, you have a few options:
1) Continue to spend within your monthly “Play” account to ’satisfy’ your toy collecting hobby and unceasing craving for more new toys that you collect.
2) Stop buying new toys for now and keep all of your monthly accumulated ”Play” account funds as another form of savings to ride out this financial crisis. No one knows how long this recession will last. It may be a year, 3 years or more. Cash is king now.
3) Spend only half or less from your monthly “Play” account, and roll over the remaining amounts as another form of savings. To do this, you’ve got to buy your toys at sales and discounts as much as possible.
4) Cut down on buying “impulse” toys - toys that you obviously don’t collect but you have a tendency to buy them because they look ‘interesting’ at the point of purchase. Your home will end up looking like a ‘toy shop’ cluttered with all sorts of miscellaneous toys you probably don’t love as much as the main toylines you collect.
Whatever you buy, avoid using your credit card to pay for your toys and many other expenditures during these difficult times. I’ll share more about this in tomorrow’s post.
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The bottom line, I think, is becareful with your money.
Thanks for sharing your money saving advice, very useful!!
You’re both welcome! I’m glad to be able to share my current thoughts on personal finance with my readers