Money Do's and Don'ts

I am a frequent retail therapy shopper. I know it’s not one of my best habits, and yet, I still partake in it. Naturally, with coronavirus and quarantine being a stressor on my life, I have found myself with the frequent urge to shop. However, the more logical side of me has thankfully kept those urges at bay as I figure out how to manage my money during these times.

These are my personal dos and don’ts:

Do shop local. Whether it is clothing, food, or entertainment, I have been trying to keep in mind the importance of supporting smaller businesses. My family has been trying to get takeout from local restaurants owned by families in our area as a way to not only support the local economy but also allow ourselves a night off from cooking dinner at home. Many local businesses are running promotions and sales as a way to encourage consumerism and keep their companies afloat. This makes shopping local all the more beneficial for both parties.

Don’t shop for future plans just yet. There is still a lot of uncertainty surrounding the near future, so I personally find it’s best to hold off on buying that trendy top that would be great for a night out with friends. It can be hard not to get sucked in by all the advertisements, sales, and promotional emails, but I try to remind myself that I have enough clothing, and trends change quickly. 

Do invest in yourself. Rather than spending money on items that you may not be using frequently during quarantine (like trendy clothes), spend money on books, classes, exercise equipment, or even smaller pieces such as blue light glasses. These types of products are better suited to keep your mind and body occupied and healthy.

Don’t spend too much on trendy lounge wear. I am as much a fan as every Tik Tok influencer of brightly colored tie-dye sweat suits, trust me. While it may be easier to purchase a premade set from a store, the prices on such pieces can be astounding. Meanwhile, the materials themselves are relatively inexpensive. Purchasing the materials and then spending an afternoon making your own trendy sweat suit can be a fun way to utilize time without putting too much pressure on yourself to be productive.

Overall, I think it is most important to simply be mindful and intentional with my purchases during this time. I find it important to think about the impacts of my money and how I spend it especially considering shifting plans and uncertain economic futures. Many—including myself—have had to shift their summer plans with the cancelation of planned jobs and internships. However, while it is also important to make intentional and mindful purchases, it is equally important to listen to yourself and still sometimes get your favorite iced coffee or the perfect pair of jeans you found on sale. 

By Lilly Delehanty

Duke Student, pink purveyor and resident expert on surviving and thriving.

Illustrations by Cristina Thorson, Coventern