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    April 20, 2008

    Beware of BUI: Buying Under the Influence

    Filed in: Coaching Tips, Women and Money by Dr. Lois Frankel @ 3:27 am

    There was a great article in the Los Angeles Times, Shopping While Drinking: Retail Happy Hour.  I hadn’t realized how common it had become for women — particularly single, child-free women — to pour a glass of wine and shop online.  I’m sure I’m guilty of a few BUI’s, but I don’t make a habit of it and I don’t recommend you do it too often either.  As Donna Summer told us way back when, we work “hard for the money.” Rather than fritter away your hard-earned dollars here are a few tips for enjoying the fruits of your labors — now and in retirement.

    1. When you finish working on your home computer turn it off.  You’re less likely to power it up again just to online shop.
    2. Give yourself a monthly online shopping budget.  Of course this is from money left after you’ve funded your retirement and, as Liz Weston calls it, FU (forget you) accounts. 
    3. If you’re going to shop online, look for coupons and promo codes.  You’ve probably noticed these when you check out and wondered how to get them. Go to www.bradsdeals.com and you’ll find a link for coupons to some popular shopping sites.  I found a $25 off coupon for McCormick and Schmick that didn’t require you to sit through a pitch for a vacation timeshare. 
    4. Do your online shopping before you pour that drink.  Alcohol negatively impacts perception and self-control — a lethal combination for BUI. 
    5. If, like some of the women in the article, you find packages arriving at your home that you don’t remember ordering because you had one drink too many, you may have a drinking problem and shouldn’t be BUI at all.  Alcoholics Anonymous can help.  Similarly, there are 12 step groups for compulsive spenders and shoppers that you can learn more about online. 

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