Do you have a confession to make about a purchase you shouldn’t have made? Whether it’s the $600 treadmill you use as a really expensive clothes hanger or that collection of pricey handbags you just had to have, is the place to bare your frivolous soul.
A new site from the National Endowment for Financial Education, is intended to give people a place where they can admit their poor spending habits as a step toward developing better ones. Posted videos range from walks with a shaky hand-held camera through an apartment loaded with unused appliances and sporting equipment to a slickly produced visit with a woman whose penchant for new shoes threatens her dream trip to Italy.
Beyond the entertainment of sharing in other people’s spending mistakes, offers users a chance to calculate how much they spent on their own junk. But more important, they can compare how much it would have cost if they put it on a credit card compared with how much they could have earned if the money was invested or put in a savings account.
