With 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.