A few weeks ago I began collaborating with my mother on our debt-conquering gameplan.  Early off, we decided to "sponsor" eachother (Not so much in the endorsement sense as it is in the 12-step sense).  We've gotten into the habit of calling each other when we are about to make a purchase that has not been budgeted for.  The idea is to eliminate impulse-spending, or at the very least curb it.  So far it is working very well.

I recently got a hand-me-down TV from my Uncle that is larger and much nicer than the one I was using.  Only thing is, the "new" TV does not have a DVD player (My old one had one built in so there was no need to ever buy a separate unit).

So, last night, I decided that I wanted to buy one.  With that, I called my Mother to discuss this purchase.  I told her the story, and that I had recalled that Best Buy and Target tend to have cheap players with few features under $40.  After she heard my "case," she handed the phone over to my older brother to explain to him (Earlier in the day he had been briefed on the arrangement my mother and I have).

Now, unbeknownst to me, they both were hosting some family friends for a poker night.  After hearing my case, my brother then told me he would "confer with the committee," as in, EVERYONE there, and they would call me back with a decision.

Fifteen minutes later they called back and "approved" a purchase of a DVD player in the price range of $20-$30.  Shortly after I found one for $26.49!!!!!

I thought the whole experience was cool.  I'm not embarrassed to be broke, and to really take into considerations all the fators that may keep me from buying a $27 DVD player.  I liked the fact that EVERYONE was supportive of the concept and debated amongst themselves over if it was a good idea, and how much it was worth.  I really like the idea of money/debt management going beyond an individual issue and into one of community support.

Not sure where I was going with this, but it was neat to me and I thought I'd share.

What a great concept!  That is certainly a bargain for a DVD player.  Maybe part of the committee can be this forum for any purchases folks are debating on.

I am still using a 5-disc dvd player that I picked up at CompUSA on clearance. Since it didn't have a remote with it, I talked them down to around 35-40. That was 2 years ago and it is still running with no problems.

What a great idea.  I am going to run this idea by my co-workers.  I think we would all benefit from having to get "approval" from a committee before making a purchase.

The more accountability the better there is strength and power in numbers. Way to go!

:DGreat concept!  I would never buy anything again! LOL . . .

That is a wonderful idea! My mother and I tend to confer on our major purchases as well, though she tends not to listen to me as much as I listen to her, but that's okay. It has saved me a few times though, and I think it is very much worthwhile to have a support system when it comes to spending!