72459337With the economy in a full-blown recession and our wallets in a full blown depression, many smart fashion mavens are going the recessionista route. These savvy sophisticates are finding ways to look their best for less, opting to hunt for secret sample sales, vintage vestments, and online discounts. Some of us, however, continue to live in financial denial in a never-ending quest to keep up with the Joneses. Draped in the latest haute couture, they’re spending money like it’s going out of style trying to stay in fashion at the expense of the security of well-padded savings account. Dressed to kill and broker than the U.S. economy, the retail slaves show no signs of letting up, just like the recession.

While a trip to the mall can be fun and exhilarating, especially when there’s a killer sale going on, the retail slave takes things to the extreme, spending every last dime in the name of appearances. And while they might be doing their part to jumpstart the economy, doing so at the risk of handling their b.i. is plain irresponsible. What’s the point of owning the best gear, when you don’t have a place to live because you chose Prada over su casa?

Signs you or someone you love may be living on the edge…of financial ruin.

If you exhibit any of these signs, it might just be time for you to cut up the credit cards and make an honest assessment of your spending habits.

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  • This article is so on point! It’s time everyone did a re-evaluation of the difference between “want” and “need.”

  • Rilu

    Need I say “Confessions of A Shopaholic” redux? They need to rent or find it and watch the film. Maybe starts their road to self-discovery. I used to spend money I didn’t have (at least it was all debit) but after awhile I learned the benefit in being money-savvy.

  • Kei

    After reading the article, i think that it is true that there are SOME women that may shop with this mentality. I have no problems waiting until a cute pair of shoes is marked down from 89 to $15 so that i can afford them. Like another reader mentioned, you need to set limits on wants and needs. I own a home, no car note and have some money in the bank but at the same time, I love being a woman and feeling pretty. However, not to say that i dont make sacrifices. I dont buy from the vending machines at work, cut coupons and dont spend money on liquor or cigarettes. I think everyone has a vice, the important thing is knowing your limits. ;)

  • lexibugg

    i am a shopahaulic, but mom didn’t raise no fool!!!! beside my husband helps me keep my spending in check,he runs the budgeting, he’s great at that, if it was up to me we would be in trouble.