For those of you who are not familiar with the term, gazingus pin is a term coined by the authors of Your Money or Your Life. They define a gazingus pin as something you think you have to have. Something that when you see it at the store you think, "I don't have it in that color," or "That looks just a little different than the other ones I have." The point being, it is something very, very hard to resist buying, almost a guilty pleasure. Gazingus pins are an enemy to thrift and financial independence and they need to be dealt with.
As I spent this afternoon washing, ironing and folding yards and yards of fabric, I mused about my spending habits. I clearly have enough fabric. I have an entire seven foot bookshelf brimming full and now I've started to spill over into a second bookshelf. It is obvious fabric has become my gazingus pin.
Back when Jeff and I first read Your Money or Your Life, in the early 1990s, my gazingus pin was athletic shoes. I used to buy them constantly and my closet was filled with them. Now, clearly, fabric has replaced athletic shoes... Oh well, and I did very well last winter working on busting my stash, but clearly fabric sales are my downfall. I must get off of these fabric mailing lists and I must find the motivation to start sewing again. I have several projects waiting in the queue.
Our long-term goal is financial independence. In 2007, we thought we were close, then the stock market crashed 40% and we lost significant process. But, of course, that doesn't mean we should give up. We're in a wonderful situation financially right now and we need to do what we can to save more towards our retirement.
Do any of you have a gazingus pin? What do you buy to help yourself feel better?