domdavis.com

The outpourings of a deranged mind

Dom Economics

October 25th, 2007 | Category: Ramblings

So let me introduce you to what I call Dom economics. Please bear in mind that this is pre 2006 Dom economics, post 2006 Dom economics being [for the most part] really quite sensible, however, the old form does seem to be making a [limited] comeback.

Every so often (daily) I need to engage in retail therapy. This can range from a few pounds worth of stationary, a new book, some sweets and other small items all the way to £2000 cameras, £3000 hand made swords and £3500 monster rigs (gaming computers to the layman). We shall call this: The Impulse.

The Impulse defines the level of cash spent. Sub £100 impulses are quite common, £3000 impulses are rarer and, crucially, are slightly easier to ignore. Recently I had, courtesy of Heroes, a £100 or so Impulse which (due to the new Dom economics) I studiously ignored for a couple of days. This Impulse sat and festered for a few days until it managed to convince my brain that ‘what the hell, simply looking for the item won’t be a problem‘. So we looked. We are now on The Slippery Slope.

I found what I was looking for on the web and discovered that it was actually quite affordable (especially now new Dom economics has had the foresight to set up a toys account) and, yes, it would push back the purchase of my new Uber rig a bit more but then I’ve been waiting for that for over 2 years and I don’t even know if I believe I’ll get it any more. And hey, it’s under £100. Well, it was before delivery and everything else, and it’s not that much over £100. And since we’re here we’ll take a look at everything else too see if there is something better or…. ooooh. I like that too. [Now admittedly there was a period of a few hours where new Dom economics managed to sway me and keep me sensible but we'll ignore that as it was defeated quite quickly]. Hmmm, that’s a couple of hundred. But we’ve already spent over £100 and its not that much more [note how Dom economics runs cost in parallel, not counting it as a single £300 cost]. This can snowball and end up with ‘well, if I don’t get those two items I can get this uber model and it’s only £x more‘ until such point as The Fear is felt. The Fear is very much dependant on the size of The Impulse, my current bank balance, outstanding credit card balances (ironically enough the larger these get the more reckless I get) and proximity to payday.

There are complications though. For example, say one of the items purchased has a refund due to an unexpected  discount. Well, I’ve already spent that money so I may as well buy something else with it and spending just a little more wont hurt, after all, £300 didn’t hurt and we did get a nice refund [notice how we've gone from spending less than £100 to spending another £300+, in Dom economics the amount actually spent is still the original sum with 'a bit extra we don't need to worry about'].

Now we enter the dangerous phase. The bit that says ‘hell, we deserve a treat, we’ve been good, we’ve been restrained, lets look at the uber expensive items‘. So I then start looking at computers/cameras/swords/whatever that cost in excess of a grand and wondering if slamming it on my credit card will really hurt me that much in the grand scheme of things. And while we’re spending, for example, £3000 on something, lashing out another £250 on an accessory isn’t really that much of an issue.

So, we’ve gone from spending less than £100 to spending in excess of £4000 in anything between 1 hour an 1 week (depending on The Fear again), however, Dom economics says we’ve only actually spent £100 + ‘a bit’ + £3000 + ‘a bit more’ - lets call it £3250ish. We then brace ourselves the next time we look at the bank balance… and breath a sigh of relief. ‘Of course, only the first £100 went on the cash card, the rest was on credit cards, I’ve got masses of money to last me until the end of the week. Hmmm,… there was a nice computer on the Alienware website… I wonder if I could afford that….‘. Once again we’re back to having only spent £100 and we’re free to act on the next Impulse.  :D

OK, so this time The Fear
kicked in around the £500 mark and we did put it all on our cash card with full knowledge that the toys account (which is there specifically for this kind of eventuality) can bail the main account out should I have over-stretched myself just a wee bit, new Dom economics being borne out of the fact that credit card bills in excess of £15,000 isn’t fun and extending the mortgage to pay for it isn’t really a good idea. I did come perilously close to splashing another £3000 (actually £3300 if we’re being honest) but I have had the foresight to stop any of my credit cards from actually being able to fund that kind of purchase and I need to know I’m getting a bonus this year before I make any large spends…. well, large spends over and above the iPhone… and the swords… and the glass… I think the toys account is going to be a little empty come the end of the year… I just hope there is enough in it to cover everything :D

10 Comments so far

  1. cataclismical October 26th, 2007 12:37 pm

    STEP AWAY FROM THE COMPUTER - before you bankrupt yourself! However if you are intent on spending money .. I have a few things I’d like .. ;)

  2. Dom October 26th, 2007 1:30 pm

    Oh - I’ve already nearly bankrupted myself in the past, hance the new Dom economics and the toys account. I’m a lot more sensible than I was :)

  3. ms20 October 26th, 2007 2:23 pm

    blimey! :) cataclismical is right - STEP.AWAY.

    Although I do need a few things at the moment:
    1. New georgian fireplace - install, fit and find - £1000
    2. New bad ass TV £650
    3. Media centre: who knows.
    4. Holiday: £3500

    ARGH!

  4. Perpetual October 26th, 2007 2:52 pm

    I like your economic style a lot.

  5. Nanook of the North October 26th, 2007 3:45 pm

    I’m sure you could now do a series of half hour TV programmes on the new Domenomics proving to people that they can actually really really afford loadsa stuff. You could be sponsored by those daytime TV loan companies (oh its so cheap to borrow £25,000 as long as we just repay £43,000 and lose your house in the process whilst fallng over the kid’s skateboard).

    I’ve just persuaded myself, using the new Domenomics, that I can now really really afford a piece of carrot cake from the cafe.

  6. Dom October 26th, 2007 4:24 pm

    The cafe at work? You’re kidding right? Even at my most extravagant I couldn’t afford that kind of money :D

    Ms20 - £650 does not buy you a bad ass TV - it simply buys you a TV :) £650 doesn’t even buy you the stand for a bad ass TV :D

  7. Des October 30th, 2007 2:38 pm

    Oooh, now spending money on toys is one thing, my objection is the spending of money on repairing the things I already have. Given the TT, roof, Suspension on the Pontiac I seem to be $10k down without actualy having anything I want*

    Oh to be young, free single and able to buy toys once more.

    * Yes, Yes, I know, at the current exchange rate that’s about 3.5 of your damned UK ‘pounds’

  8. Dom October 30th, 2007 2:44 pm

    I’m no longer young and single isn’t all it’s cracked up to be… plus my toy buying habits have actually gone down since I left Zoe :D

    I know about the TT - when did you get the Pontiac? Sounds like a toy to me :)

  9. Bathgirl October 31st, 2007 5:17 pm

    #shoots Dom a sideways look# Step away from the credit card Dom… #grins# - and yes I know it’s shiny :D

  10. Dom October 31st, 2007 6:48 pm

    Shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny shiny

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