Investing in bargains pays off
By Beth Teitell
Thursday, January 5, 2006
Which is the wiser investment: my retirement or children’s turtlenecks? Such are the complicated fiscal conundra facing a personal-finance whiz such as myself.
I was at Talbots Kids’ “famous semi-annual sale” yesterday, loading up on a years’ worth of tops and pants for my sons and feeling super smart for bingeing on overpriced clothes at normal prices, when fear hit me: Maybe I should keep my assets liquid, not tied up in cotton and corduroy. “Do you know what interest rates the banks are paying?” I asked a passing customer. She did not.
But with so many other sales beckoning throughout the mall, there was no time to try to figure out if inflation would outpace Talbots’ prices (the Twill Index), so I pulled out my credit card and charged away. “Mail it to me,” I added, figuring the $6 fee was surely a tax-deductible retail transportation cost.
That little wearable nest egg squirreled away, I hustled over to a few other stores, as giddy as a euro-packing Frenchman heading for America. But it only took a few moments’ pawing through drastically reduced cashmere tops and designer bags for sadness to mark down my mood. Not only was there nothing I wanted for myself, I didn’t even owe anyone a present.
Unless . . . I shop now for next year. I pulled out my cellphone and called a friend with whom IExchange. “Do you want a striped Lacoste shirt?” I asked.
“You just got me a present,” she said. “No, I mean for next year. You’re not planning on losing or gaining weight, are you?”
She took a moment to consider. “Just to be safe you better give it to me soon. How about if I started celebrating Chinese New Year? It’s in February.”
Ka-ching! Yes, I was spending, but in truth? I felt as if I’d hit the supply/demand jackpot.
Jonesing for another score, I got off the phone and flipped through my little black book. Well, well, well, look who has a birthday coming up. A friend from California I haven’t spoken to in a few years. What could be nicer than buying her a little half-priced trinket (and hopefully triggering a reciprocal gift when my birthday rolls around? Not a bad little investment, considering she’ll have to pay full retail at that time of year.)
Keeping my credit card out and ready for flashing, I headed into the Saks sale, recalling the wisdom I received from a friend’s mom: “You have to spend money to save money.”
Now that’s my kind of financial planner.
