Death to the $20 Purchase

March 03, 2016 3 min read

I’ve used this line before, but it deserves repeating, because things that are $20 and under are so. easy. to. buy. They are like the silent killer of your bank account or credit card bill, IF you’re not paying attention.

Photo: Whipping Post

I ran a booth once for dignify at a big Christmas market, and right across from us was a candle seller. Here I was, with these beautiful, hand-crafted items that were colorful and rich with an amazing story behind them. “People online love our blankets!” I thought to myself. “So many people purchase them as gifts; selling them here is going to be fun & easy!”

While I was setting up our booth, I glanced over at the candle shop. Jars of candles. Candles shaped like a banana loaf with 3 wicks. No special scent. No interesting story. Just simple, $15 candles. “Will people buy these things?” I wondered.

The answer, it became clear, was a resounding YES.

Over the next 9 days (over 3 weekends) as I twiddled my thumbs and re-folded blankets and talked about our story, I saw LINE-UPS across the hall of people buying candles.

What I realized is that $20 is very, very easy to spend. It wasn’t that these items were extraordinary; exactly the contrary: many people were looking for a simple, decent, ordinary gift that they could give to a co-worker, mother-in-law, host, or include in a gift exchange. And, at the very ordinary price of $15, it was a very low barrier for buy-in.

But what do all of those $15-$20 purchases add up to?

You may have had this experience when you’ve looked at a month’s credit card bill; the total has your eyes bulging, but the detailed list doesn’t seem to show anything very notable. As a young married gal, I would look at our bill and think, “I don’t even have anything in the triple digits – how does this all total to $2000?!”



But, imagine a fairly regular day: you treat a friend or your daughter (& yourself) to drinks & pastries at a coffee shop in the morning. After you part, you swing by the mall where you pick up your latest book club read at the bookstore, grab some organizational containers that you’ve meant to pick up, then see a darling bowl on the sale table at West Elm before you go. Tonight, your family’s activities go a bit late, so while you’re waiting for piano lessons to wrap up, you pop in and buy a prepared meal from the grocery store.

Boom! That was a $100 day!

Nothing expensive, nothing too extraordinary, and certainly could all be worthy ways to spend money (books are edifying; house needs arranging, sanity-saving meal shortcut, etc.).

Maybe in your life, the $20 at Starbucks is no big deal. Your version could be $80 at IKEA or The Container Store, or $200 at Costco. But, any time that money seems to disappear without any satisfaction to show for it… these are the places that we need to re-examine and think about. What else might you get with the disappearing $20, $100, $200? A framed art print? A date night out? An upgrade at a hotel? A gift to a person or organization in need?

When you begin to ask these questions, the answer may be that you wouldn’t change a thing. If so: Great! What matters is that you begin to ask, look, think, and make more informed decisions.

Then, you will have the confidence to purchase when a great opportunity arises. You will feel the satisfaction of money well spent, instead of bewilderment over the disappearing act of money seeming to fly out of your wallet.

 


Leave a comment


Also in Shop Good Blog

Learning to Have Fun Again in 2021

June 11, 2021 5 min read 1 Comment

"More Fun in 2021"


This is a motto I've been replaying lately in my mind.

For me, one of the *necessities* to sustain energy for this work is to embrace joy, celebration, & fun. But this year, those things have felt pretty elusive. The past 16 months have enriched the depth of my close friendships and have brought maturation & focus to my time; these have been invaluable gifts!

But... I feel like I need to learn all over again how to have fun!

Here are some of the ways I've been thinking about, or practicing, fun lately. I would also love to hear about how you find joy & energy to recharge for everything else that life brings at us!

Read More
10 Years of Basha

May 07, 2021 3 min read 1 Comment

Basha Boutique is the name of the organization in Bangladesh where all of our beautiful products are made.

Yes, *all* of our products, every item of kantha we sell. This was... ill-advised by our banker. But, a personal working relationship, excellent partnership, and the literal best quality products have kept us together for nearly 9 years! dignify is yoked to Basha, and we have zero regrets.

If you've been around dignify for a while, you've heard plenty about Basha and likely have a good familiarity with how they (and we) operate. But, if not, here is a bit more context!

Read More
Habits of Spending... Interrupted

April 30, 2021 2 min read

 

I’ve written before about taking the time to think about our spending habitsWe are in a particularly unique situation in this current moment; in March 2020, there was a dramatic interruption to our everyday spending and consumption habits!

Some patterns have remained interrupted over the year. Some rhythms are, or will be soon, returning to a closer resemblance to pre-covid. Regardless of our specific situation, interruptions make great opportunities to re-assess! Do my choices reflect my desires, my values, my priorities?

Read More