I did the stupidest thing and bought $10k worth of gift cards to a mall.

[TorontoGirl]

I bought $10k worth of GC at Yorkdale today because I was overcome with FOMO. It was the Thursday before Black Friday deal, and they were giving $100/$1000 spent. Though I 'made' $1k from it, after coming home and (mostly) being justifiably berated by my parents, I feel the dread sink into my stomach really hard.

I can spend that money at a couple of malls here in Toronto, but I just don't know what I could possibly spend $10k on...

I don't have any question but I guess it's true about the saying 'misery loves company'. Did anyone else do a really bone-headed thing like me?

[RWD]

Can you sell the gift cards? Is there anything you can buy with the gift cards that could be sold for little to no loss?

[Frankies Girl]

I'm not sure why you were even at the mall, why you thought buying more things would solve any problems (you said yourself in previous posts you have a serious problem using shopping as therapy). What you did is akin to a raging alcoholic strolling through a liquor store.

Spending a few hundred on gift cards is a stupid mistake. Spending TEN THOUSAND DOLLARS on gift cards to a department store is delusional-level disconnect and a serious, scary giant red flag that you're out of control.

You need to try to sell off those cards ASAP for as close to face value as you can/whatever you can get for them, and stop blowing money on retail therapy and get actual, real therapy. It would be a better value for your money, and likely help you deal with your problems much better than relapsing like this.

[marty998]

I can't fathom how insane this is.

Go back to the store right now and ask for refunds.

How did you pay for these anyway? You need to cut off easy access to that level of funds.

[soccerluvof4]

WOW! I have never heard of someone doing something like this before but don't get consumed with what you did wrong go figure out away how to fix it and get rid of those cards asap! and hopefully learn from it.

[ElleFiji]

TO girl... I don't think this was stupidity. Can you call your doctor and therapist for emergency appointments? And if not, go to a walk in. This is serious as hell. I'd also call the mall and ask about their refund policy on gift cards and how to navigate a refund for medical reasons.

I'm 99% sure that you will get a full refund. I have friends who've gone through similar binges and found solutions.

I'm also pretty sure that setting up a business to cover up the affects of binge shopping is not a healthy solution for you.

It's incredibly sad and heartbreaking when medical conditions affect your ability to earn or save. It has been a struggle for me to understand how my health affects my ability to FIRE.

[Omy]

You got them for a 10% discount...won't somebody buy them from you for a 5% discount?

[FireEngineer]

I will second [third] the refund suggestion.

 I want to compliment your strength, TorontoGirl. It requires great strength to admit you have a problem and ands for help. Right now you are in "oh shit"-panic mode, and you worked through it and asked for help.

I also want to compliment this community. What a great group of people. Helping each other out and helping others work through problems. You Rock!

[Dicey]

Hi everyone,

I'm a 33 year old female living in the Toronto suburbs and am new to FI and am really interested in building up my wealth. I currently live at home and have about 55k saved (this includes TFSA amount). I don't want to move out since I'd rather pay my parents' mortgage than the landlord's mortgage. I'm looking to move to SV as soon as I get a job and want to continue living the frugal way.

Full disclosure: I went through depression and anxiety and shopping and eating out was my biggest coping mechanism. Right now, after over a year's worth of treatment, I've stopped shopping and am starting to cut down on eating out. I still have about 40 dresses, multiple skirts, tops and light 'fashion' jackets (read: impractical) with their tags on them and am trying to unload or wear them.

I'm going through the standard: closet full of clothes but nothing to wear.

I'm currently working in the corporate world and would like to buy some high quality neutral staples that'll last me a long time. I watched a Toronto YouTuber who stated that she only gets her income from YouTubing and that she gets tax deduction on her clothing purchases. Would that also apply to me if I buy something and review it on YouTube?

Thanks in advance,

We are either bring seriously trolled, or TG has problems far beyond the scope of this forum. The only one who can save TG is TG and she seems to be lacking the motivation to do so.

ETA: The post quoted above is TG's very first forum post. One month ago. Ahem.

[CrustyBadger]

I bought $10k worth of GC at Yorkdale today because I was overcome with FOMO. It was the Thursday before Black Friday deal, and they were giving $100/$1000 spent. Though I 'made' $1k from it, after coming home and (mostly) being justifiably berated by my parents, I feel the dread sink into my stomach really hard.

I think this is the gift card company:


https://oxfordgiftcardplus.ca/faq/#3528

You can cancel the gift card purchase the same day you bought it, they say, but they can absolutely make an exception if they want to.  If you have a medical diagnosis that includes impulse buying, that may make it more likely they will be able to cancel your purchase.  Make sure you do not spend any funds from this gift card and retain the $1000 that you "earned".

 
Can I cancel or get a refund for the purchase of an Oxford Gift Card Plus?
Once you complete your order, you can only cancel or refund the purchase on the same day of your purchase. All funds must be present on the card, meaning the funds purchased are equivalent to the funds shown on your receipt. If you require further assistance, please call the number on the back of the card 1 (866) 414-8340.   

[partgypsy]

I would honestly see if you can get your money back. Explain that you have a shopping addiction. If you have proof like counseling etc provide it. Also talk to your credit card company to explain situation and whether charges can be reversed.

[TorontoGirl]

Hi everyone, thanks for all the replies. Though some of you have been nicer than others.

I'm going to try getting a refund, but if not, then I'll just chalk it up to a learning lesson.

I like the idea of getting my money out of sight so that it's not so accessible.

I went shopping today with my (still furious) parents. I bought a bag for $320 taxes included which was, unbelievably, my biggest splurge this entire year.

My dad needed some things from Home Depot, so we ended up exchanging $500 worth to Home Depot GC. We also exchanged another $500 worth into Visa gift card, which came to $517 including activation fee.

When I went to the bank yesterday to increase my limit on my debit and credit cards to purchase the gift cards, I saw my statements (I had been avoiding them prior to this) and I've been spending hundreds of dollars every month on eating out.


My mom has possession of the other cards and I told her that she can do whatever she wishes. She might turn that into visa GCs and pay the cable/misc bills with them or pay for my brother's graduate school books etc. I'm 100% OK with this as I feel that my family is an extension of me and my money is their money. Most of my money has been sitting in my chequing acct so it's not as if I'm missing out on a good investment.

I might use just one $500 GC to budget my spending for the next 4 months. You live an learn. I think this was a kicker to getting me to look at what's left in my account and put it away towards investment.

[Cassie]

You have a illness that you really need to address. If I was your parents I would never enable you like they are doing.    Very sad

[Freedomin5]

And can you please get rid of the money sitting in your chequing account? Put them into an index mutual fund. Then give that info to your parents so you can’t call up the bank/mutual fund company to sell off your funds.

Also, give your credit card and debit card to your parents to lock away, or freeze them in a block of ice, or whatever. Live off cash (or your $500 visa gift card).

And don’t go to Yorkdale anymore. Do not even set foot in it. Also avoid Sherway Gardens. Avoid all high end shopping malls. Avoid all malls. If you need clothing, go to a thrift store. The ones near Rosedale or up in a stouffville (depending on where you live) should have nice stuff for decent prices.

Good luck.

[Dgibs]

I went shopping today with my (still furious) parents. I bought a bag for $320 taxes included which was, unbelievably, my biggest splurge this entire year.

No, your biggest splurge was $10000 worth of gift cards.

I'm not sure buying a bag as a reward is healthy either?

It is however your money to do with as you please. I hope you get on top of this though, you're on a very stressful path at present and there is a better way!

[partgypsy]

Hi everyone, thanks for all the replies. Though some of you have been nicer than others.

I'm going to try getting a refund, but if not, then I'll just chalk it up to a learning lesson.

I like the idea of getting my money out of sight so that it's not so accessible.

I went shopping today with my (still furious) parents. I bought a bag for $320 taxes included which was, unbelievably, my biggest splurge this entire year.

My dad needed some things from Home Depot, so we ended up exchanging $500 worth to Home Depot GC. We also exchanged another $500 worth into Visa gift card, which came to $517 including activation fee.

When I went to the bank yesterday to increase my limit on my debit and credit cards to purchase the gift cards, I saw my statements (I had been avoiding them prior to this) and I've been spending hundreds of dollars every month on eating out.


My mom has possession of the other cards and I told her that she can do whatever she wishes. She might turn that into visa GCs and pay the cable/misc bills with them or pay for my brother's graduate school books etc. I'm 100% OK with this as I feel that my family is an extension of me and my money is their money. Most of my money has been sitting in my chequing acct so it's not as if I'm missing out on a good investment.

I might use just one $500 GC to budget my spending for the next 4 months. You live an learn. I think this was a kicker to getting me to look at what's left in my account and put it away towards investment.

There are a bunch of flags here, including with your parents. Saying your parents can do whatever they want with the cards. Also "Most of my money has been sitting in my chequing account so it's not as if I'm missing out on a good investment".
Hear me out, many people who over spend do so not because they feel they are rich but because they have the mentality of being poor. The moneys not really theirs and if you don't spend the money now it's going to be spent or gone anyways, either on bills or by other people. I don't know if you are still going to counseling but you need to do some visualization exercises of what you want from your life, a year, 5 10 years from now. At the very least you are in an ideal position to salt away money for your future you, so you don't have to work until 67 years old at jobs you may dislike, or at some point only work part time.
Other than 3-6 months emergency fund, you should not have your money in a checking account. It should be in investments.
Do you have a budget? A budget doesn't mean 0 money for personal expenses. It means you know how much goes to bills, how much to debt (if any) how much to savings, and also a certain percentage for personal use. Get and stick to a budget.
As far as all those credit cards, you might be one of those people you need to just have a debit card, and a credit card for emergencies (pick the one you've had the longest). And literally cancel and cut up all those other cards. Nobody should have those cards, not you or your parents. 

[Bucksandreds]

I saw op say that she could convert $517 in the gift cards that she bought to a $500 Visa gift card. That’s a 3.4% loss but getting a free $100 for a purchase of $1000 is a 9% gain. Sounds like that’s a free 5.6% if you converted all the cards to Visa gift cards. You could then just use the visa gift cards over the next year to pay regular expenses. Best I can do on regular purchases is 2% cash back so if play correctly, this could be a good purchase.

[CrustyBadger]

This doesn't sound good to me.  I can't understand why your parents would even have gone back to the mall with you, if they were so shocked that you spent $10,000 on gift cards. 

It sounds like you are trying to find ways to now spend this $10,000 which before was just sitting in a bank account.  Did you actually mean to spend that $10,000 before you turned it into gift cards?   Did you intend to use that money to help your dad repair the house and your brother pay for his education?

I'm not someone who tries to churn credit cards or buy gift cards because I know I don't have a budget yet or firm control over my (over) spending.  It would be playing with fire in my case.

If your goal is to build wealth (as you say on a different thread) I urge you to stop trying to do complicated things (like trying to deduct the cost of clothing you buy from your taxes by starting a Youtube business) and just do the plain boring things (budget, plan, cook at home, make do with clothes you have or buy very cheaply) and build up your savings that way.

[Dicey]

I saw op say that she could convert $517 in the gift cards that she bought to a $500 Visa gift card. That’s a 3.4% loss but getting a free $100 for a purchase of $1000 is a 9% gain. Sounds like that’s a free 5.6% if you converted all the cards to Visa gift cards. You could then just use the visa gift cards over the next year to pay regular expenses. Best I can do on regular purchases is 2% cash back so if play correctly, this could be a good purchase.

This might work for a mustachian, who then used them frugally, not like free money. Alas, it's clear that TG is not yet one of those people, nor are her parents.

Also, by not requesting a refund immediately and then using the cards, she has manipulated her way into a position where she is not likely to be granted a refund, which she will then blame on the evil company's unfair policies.

Of course tough love doesn't feel "nice". I'm sure TG knew she could count on receiving plenty of it by posting on this forum, so why act hurt that she got it? This is the home of the Original Facepunch, and this thread is more deserving of that treatment than anything I've read in a long while.

[Milizard]

This is one of the stupidest things I've ever heard of.  Often those kind of gift cards,  and even generic visa giftcards, have significant monthly fees attached.  You'd better study the fine print.

[lexde]

The $320 purse was your biggest splurge this year?

...except $10,000.00 in gift cards... and then handing out those gift cards like free candy...

You need to find out where you can convert these to visa gift cards, and then where you can use the Visa cards as “debit” cards to purchase money orders and pay your damn credit card bill.

In the interim, you need to physically cut up your credit cards. You do not need to have any access to money you don’t actually have.

[ElleFiji]

Toronto girl...have you called your doctor and therapist yet? I'm worried that you are talking to internet strangers and your family about money, when you are in a health crisis. But only your medical team can assess that

[TorontoGirl]

The $320 purse was your biggest splurge this year?

...except $10,000.00 in gift cards... and then handing out those gift cards like free candy...

You need to find out where you can convert these to visa gift cards, and then where you can use the Visa cards as “debit” cards to purchase money orders and pay your damn credit card bill.

In the interim, you need to physically cut up your credit cards. You do not need to have any access to money you don’t actually have.

FWIW. I purchased $5k worth using debit and $5k worth using CC because of points. My CC has $5k limit.
I have more than enough money in my chequeing (it was around $55k or $56k, and obviously it's $10k that amount now since I've already paid off my CC for the gift cards and the rest to pay for the other gift cards.

[TorontoGirl]

I saw op say that she could convert $517 in the gift cards that she bought to a $500 Visa gift card. That’s a 3.4% loss but getting a free $100 for a purchase of $1000 is a 9% gain. Sounds like that’s a free 5.6% if you converted all the cards to Visa gift cards. You could then just use the visa gift cards over the next year to pay regular expenses. Best I can do on regular purchases is 2% cash back so if play correctly, this could be a good purchase.

This might work for a mustachian, who then used them frugally, not like free money. Alas, it's clear that TG is not yet one of those people, nor are her parents.

Also, by not requesting a refund immediately and then using the cards, she has manipulated her way into a position where she is not likely to be granted a refund, which she will then blame on the evil company's unfair policies.

Of course tough love doesn't feel "nice". I'm sure TG knew she could count on receiving plenty of it by posting on this forum, so why act hurt that she got it? This is the home of the Original Facepunch, and this thread is more deserving of that treatment than anything I've read in a long while.

Tough love is one thing and I appreciate all the posters who gave me a reality check. But you, sanctimonious one, you didn't contribute anything aside from calling me a 'troll' and then accusing me of potentially blaming the 'evil company's unfair policies'--something which I didn't nor would do. Who's the troll, now?

[TorontoGirl]

You have a illness that you really need to address. If I was your parents I would never enable you like they are doing.    Very sad

Don't blame my parents. They're more shocked than anyone on this forum. Justifiably so.

They went to the mall because they wanted to see if I was telling the truth about being able to convert my GCs to visa gift cards.
I also took a vacation day (Mind you, a legit vacation day as I have some left until end of year. No, I didn't call in sick) to go see Black Friday deals, and so they accompanied me in case I did anything else, equally stupid.

My dad was going to spend $1k on Home Depot anyway for renovations, and I was able to convert $500 to HD gift cards, which has no fee.
I was also able to convert $500 to visa gift cards, paying for two $250 cards with $7.95 activation fee and tax.
Visa GC has no additional fees besides the activation fee, unless you're exchanging foreign currency.


I bought a bag from Roots. Roots bags never go on sale, but there was a Black Friday deal where the entire store was 30% off. I spent $315 there. Then, I bought food for us, which amounted to $15. I'm not lying when I wrote that the bag was my biggest splurge this year. If I tally everything correctly, this entire year I had bought a work blouse for $40+ tax, a pair of black pants for $30+ tax, and two Banana Republic blazers totaling $85 for both(which I purchased at an outlet in Niagara Falls). I also bought two jeans ($7.5 and $5) and a top ($4.5) from Value Village.

I honestly thought this was a good deal, and even though this money won't go into investing, the ability to exchange to visa GCs without a net loss is not so bad.

Additionally, to the other poster who said that I'm giving out this GC as free candy. Umm....it's my parents, whose house I live in, and it's only fair that I support them to pay the bills. Dad will use the visa GCs to pay for gas and groceries. We're also going to convert more GCs to Rogers pay card and pay the cable and phone bill and/or the outstanding mortgage on my parent's 'investment' property.


I know that in my original post I put credit 'cards' in plural, but I have only one card--my student rewards card that I had since I was 19 years old.


I'll take all of your feedback regarding putting money away into investment. I'm going to do that as well as transfer the rest to my parents so they don't struggle with the bills.


I also realized that I eat out way, way too much upon seeing my CC bill for the first time in months (I stopped the bank from sending CC bills to my home) and I think that having a $500 GC and stretching the funds it contains for shopping and eating out for 4 (or even 6) months will help me with budgeting. I always excuse away my gluttony as 'it's food and I need to eat, right?'

Overall, thanks for the invaluable feedback everyone!


Edit: Don't get me wrong, though. I should've invested that money...I just think that a lot of people suddenly jump to a lot of conclusions (i.e. I made the purchase with money I 'didn't' have and that I'm a serial shopper). I was a serial shopper, but I've phased out most of it. I still have a lot of dresses with tags on, but most of those purchases were from between 2011 to 2013 when I had a really bad case of depression.

[TorontoGirl]

The $320 purse was your biggest splurge this year?

...except $10,000.00 in gift cards... and then handing out those gift cards like free candy...

You need to find out where you can convert these to visa gift cards, and then where you can use the Visa cards as “debit” cards to purchase money orders and pay your damn credit card bill.

In the interim, you need to physically cut up your credit cards. You do not need to have any access to money you don’t actually have.

I bought $5k using CC and $5k using debit. I used CC for the cash-back. I then promptly paid it off. I had more than enough money in my chequing acct for the purchase.

[Dicey]

I saw op say that she could convert $517 in the gift cards that she bought to a $500 Visa gift card. That’s a 3.4% loss but getting a free $100 for a purchase of $1000 is a 9% gain. Sounds like that’s a free 5.6% if you converted all the cards to Visa gift cards. You could then just use the visa gift cards over the next year to pay regular expenses. Best I can do on regular purchases is 2% cash back so if play correctly, this could be a good purchase.

This might work for a mustachian, who then used them frugally, not like free money. Alas, it's clear that TG is not yet one of those people, nor are her parents.

Also, by not requesting a refund immediately and then using the cards, she has manipulated her way into a position where she is not likely to be granted a refund, which she will then blame on the evil company's unfair policies.

Of course tough love doesn't feel "nice". I'm sure TG knew she could count on receiving plenty of it by posting on this forum, so why act hurt that she got it? This is the home of the Original Facepunch, and this thread is more deserving of that treatment than anything I've read in a long while.

Tough love is one thing and I appreciate all the posters who gave me a reality check. But you, sanctimonious one, you didn't contribute anything aside from calling me a 'troll' and then accusing me of potentially blaming the 'evil company's unfair policies'--something which I didn't nor would do. Who's the troll, now?

Sometimes the truth really, really, really hurts. You have to expect in this setting you are going to get feedback you don't like. I'm pretty comfortable with everything I've posted on this thread. Sorry you don't like it, but that's not surprising. No one will be happier than I will to see my words proved wrong, except possibly your future self and your parents. As to your troll question - meh, it certainly isn't me. I think my history here is of sufficient length to dispel that notion post haste.

And please try to avoid name calling. The Forum Rules are here:

https://forum.mrmoneymustache.com/forum-information-faqs/forum-rules/

[soccerluvof4]

Overtime if you stick around at MMM i think you will learn to be more precise in your message and get more calloused to responses. When i first came here I'd guess 5 years ago it seemed like whenever I posted I'd walk away with a black eye.  But stick around and learn from it. In the long run you will get a lot more out of being here than not.

[lexde]

The $320 purse was your biggest splurge this year?

...except $10,000.00 in gift cards... and then handing out those gift cards like free candy...

You need to find out where you can convert these to visa gift cards, and then where you can use the Visa cards as “debit” cards to purchase money orders and pay your damn credit card bill.

In the interim, you need to physically cut up your credit cards. You do not need to have any access to money you don’t actually have.

I bought $5k using CC and $5k using debit. I used CC for the cash-back. I then promptly paid it off. I had more than enough money in my chequing acct for the purchase.

Woooosh.

[partgypsy]

OK for the 10K in gift cards, you were able to:
convert $500 to HD gift cards, given to parents
$500 to visa gift cards, that you will use for eating out.
And spent an additional 330 in mall.

What is your plan for the remaining $8370 gift cards?
Can you exchange them for visa gift cards and possibly re-sell? If you can do at a 90% loss that is not bad. For you I think it is dangerous to keep them in gift cards.

[undercover]

The $320 purse was your biggest splurge this year?

...except $10,000.00 in gift cards... and then handing out those gift cards like free candy...

You need to find out where you can convert these to visa gift cards, and then where you can use the Visa cards as “debit” cards to purchase money orders and pay your damn credit card bill.

In the interim, you need to physically cut up your credit cards. You do not need to have any access to money you don’t actually have.

I bought $5k using CC and $5k using debit. I used CC for the cash-back. I then promptly paid it off. I had more than enough money in my chequing acct for the purchase.

Woooosh.

How is that woosh? She had the money.

[lexde]

The $320 purse was your biggest splurge this year?

...except $10,000.00 in gift cards... and then handing out those gift cards like free candy...

You need to find out where you can convert these to visa gift cards, and then where you can use the Visa cards as “debit” cards to purchase money orders and pay your damn credit card bill.

In the interim, you need to physically cut up your credit cards. You do not need to have any access to money you don’t actually have.

I bought $5k using CC and $5k using debit. I used CC for the cash-back. I then promptly paid it off. I had more than enough money in my chequing acct for the purchase.

Woooosh.

How is that woosh? She had the money.

If you buy TEN THOUSAND DOLLARS worth of mall gift cards and hand them out like candy, a $320 purchase is NOT your biggest splurge of the year. This is way beyond MMM. This is a psychological issue for sure, which has already been discussed at length in this thread so I won't beat a dead horse, but then TG is making all sorts of excuses as to why purchasing TEN THOUSAND DOLLARS in gift cards was not a splurge and she actually had the money to pay for them. She should have (1) immediately tried to return them, having acknowledged that she did a stupid thing and has psych issues that may garner some sympathy and allow a return, or at the very least (2) try to liquidate them and pay off the credit card to mitigate the damage. Instead, she said "Hey I did a really stupid thing, which was a result of my psychological issues (again, not delving into that because it's been addressed and it's a real problem that I am not trying to downplay)" and then CONTINUED to hand them out to her parents, make stupid purchases, and does not appear to have any interest in undoing the incredibly stupid thing she did, even now that she has admitted it was a very stupid thing.

If you mess up, and acknowledge it and try to fix it, cool. It's a lesson to be learned.
If you mess up, acknowledge it, and say "well it's already done, looks like I have some spending to do! Let's FIND WAYS TO SPEND THIS," then TG is far beyond any help that we can offer and I don't really see the point of her posting in this thread to justify continuing olympic-level-facepunch-worthy behavior.

[LadyMuMu]

TorontoGirl, from your own description, it appears that you have a serious impulse spending problem. In my experience, when it gets this severe, it takes serious, concerted effort to recover--like cognitive behavioral therapy plus support groups at least once or twice a week. It is absolutely doable, but there are no short cuts. First step is to stop the spending and address underlying issues. Then you can come back here and pursue FI.

This forum may not be the best fit for your right now as its custom of truth-telling facepunching may trigger more shame/anxiety which will create mental agitation and then lead you to more impulsive spending. It's called the cycle of compulsive behavior. Let me repeat: THIS SITE MAY BE DANGEROUS FOR YOU RIGHT NOW.

Please look into this:
https://www.debtorsanonymous.ca/meetings/

[I'm a red panda]

Toronto Girl, what do you hope to get out of posting this?
Posters have tried to help with advice to return them, to seek medical help etc. You are only justify your purchase in response.

Did you only post to brag about your spending? That doesn't make sense here.

[undercover]

The $320 purse was your biggest splurge this year?

...except $10,000.00 in gift cards... and then handing out those gift cards like free candy...

You need to find out where you can convert these to visa gift cards, and then where you can use the Visa cards as “debit” cards to purchase money orders and pay your damn credit card bill.

In the interim, you need to physically cut up your credit cards. You do not need to have any access to money you don’t actually have.

I bought $5k using CC and $5k using debit. I used CC for the cash-back. I then promptly paid it off. I had more than enough money in my chequing acct for the purchase.

Woooosh.

How is that woosh? She had the money.

If you buy TEN THOUSAND DOLLARS worth of mall gift cards and hand them out like candy, a $320 purchase is NOT your biggest splurge of the year. This is way beyond MMM. This is a psychological issue for sure, which has already been discussed at length in this thread so I won't beat a dead horse, but then TG is making all sorts of excuses as to why purchasing TEN THOUSAND DOLLARS in gift cards was not a splurge and she actually had the money to pay for them. She should have (1) immediately tried to return them, having acknowledged that she did a stupid thing and has psych issues that may garner some sympathy and allow a return, or at the very least (2) try to liquidate them and pay off the credit card to mitigate the damage. Instead, she said "Hey I did a really stupid thing, which was a result of my psychological issues (again, not delving into that because it's been addressed and it's a real problem that I am not trying to downplay)" and then CONTINUED to hand them out to her parents, make stupid purchases, and does not appear to have any interest in undoing the incredibly stupid thing she did, even now that she has admitted it was a very stupid thing.

If you mess up, and acknowledge it and try to fix it, cool. It's a lesson to be learned.
If you mess up, acknowledge it, and say "well it's already done, looks like I have some spending to do! Let's FIND WAYS TO SPEND THIS," then TG is far beyond any help that we can offer and I don't really see the point of her posting in this thread to justify continuing olympic-level-facepunch-worthy behavior.

Eh she was just responding to you specifically stating she was spending money she didn't have. She clearly has the money, whether it was a wise decision to spend it is up for debate. For sure she needs help beyond the powers of this forum. And I mean, worse case scenario, she coverts the remaining $8k to Visa gift cards and pays a 3% fee which is still less than the 10% she saved on the purchase of all the gift cards. So, if anything, she can actually make money doing this. The $10k is a cash equivalent...especially since it can be converted to Visas.

All of this is to say that this post should be treated a little different than the run of the mill facepunch worthy posts here. There is more at play here than bad decision making. It's a mental health issue.

[wenchsenior]

My impression is there is a serious mental illness happening here, which requires ongoing professional treatment.  I agree that this is not a good place for the OP to post b/c of the face-punch nature of the site.  I also agree that the OP seems in a mile deep hole of denial about their problem right now.  Torontogirl, please seek professional help, rather than advice here.

[Dicey]

My impression is there is a serious mental illness happening here, which requires ongoing professional treatment.  I agree that this is not a good place for the OP to post b/c of the face-punch nature of the site.  I also agree that the OP seems in a mile deep hole of denial about their problem right now.  Torontogirl, please seek professional help, rather than advice here.

^^This^^

[GuitarStv]

Holy fuck.

Yorkdale is an expensive mall to begin with.  It's cheaper to buy damned near anything in it somewhere else.  That's why they can afford to offer "deals" on gift cards like this one.  What the hell were you even doing there?

[mrmoonymartian]

I think we all need reminders now and again that half the population is below average intelligence. It doesnt necessarily mean there is a diagnosable mental health problem, or deliberate trolling. Just people trying to work things out as best they can, and reacting emotionally instead of logically.

If the OP is prone to doing stupid things, then she can try getting counselling on coping strategies. Delaying important decisions, seeking advice from people she can trust, building up her strength of focus through meditation or CBT, writing options down and working through costs and benefits, etc. It would take effort, but what worthwhile thing doesn't?

[EnjoyIt]

You know, if I made the following post I would get a congrats instead of face punches:

Today I went out and bought $10K in gift cards for $9k
I converted those $10k into visa gift cards for $139 in fees.
I then took the $10k visa gift cards and used them to pay down my school loans paying a 3% or $300 fee.
Total fees is $439
Total profit is $561.

Not bad in a days work.

OP was so close.

[Cali]

You know, if I made the following post I would get a congrats instead of face punches:

Today I went out and bought $10K in gift cards for $9k
I converted those $10k into visa gift cards for $139 in fees.
I then took the $10k visa gift cards and used them to pay down my school loans paying a 3% or $300 fee.
Total fees is $439
Total profit is $561.

Not bad in a days work.

OP was so close.

An excellent point.

Personally, I was just amazed that anyone would ever want to spend enough time in a mall to buy 10k worth of stuff.

[trollwithamustache]

so what are the rules on this in Canada? I live in a US state where its illegal for gift cards to expire. It would seem there is still some room to leg out of the arbitrage slightly ahead on this one?

[Omy]

I was thinking the same thing, Enjoyit. It was a brilliant GC hack that was presented as a mistake.

[I'm a red panda]

so what are the rules on this in Canada? I live in a US state where its illegal for gift cards to expire. It would seem there is still some room to leg out of the arbitrage slightly ahead on this one?

The ROI for someone with self control could likely come out ahead.

The OP is a serial shopper with a documented mental health issue that causes impulse buying. Utilizing these effectively seems unlikely. Returning them in the time frame was the best solution

[Milizard]

This wasn't done to be richer in the end, but poorer in the end. That is the difference.

[Omy]

I'm new to the forum and don't know the history, but spending $9,000 to get $10,000 is not a catastrophe - especially when they can cheaply be converted to VISA gift cards (as long as they don't expire). They could even be sold for a 5% discount if having them in hand presents too much of a spending temptation...and OP would still be ahead.

I didn't get the impression that OP did this with the intention of being poorer in the end. Is that the case? It feels like there is more than "tough love" going on in this thread.

[charis]

I'm new to the forum and don't know the history, but spending $9,000 to get $10,000 is not a catastrophe - especially when they
can cheaply be converted to VISA gift cards (as long as they don't expire). They could even be sold for a 5% discount if having them in hand presents too much of a spending temptation...and OP would still be ahead.

I didn't get the impression that OP did this with the intention of being poorer in the end. Is that the case? It feels like there is more than "tough love" going on in this thread.

Nah. The OP already blew a good chunk of the profits on a purse, has a history of shopping addiction, and is planning to give almost 10k in cards to her parents so she doesn't waste it. Does it sound like she did this with the intention of gifting her parents almost 10k? Anyone who thinks so has reading comprehension issues or willful ignorance.

[Dicey]

I'm new to the forum and don't know the history, but spending $9,000 to get $10,000 is not a catastrophe - especially when they can cheaply be converted to VISA gift cards (as long as they don't expire). They could even be sold for a 5% discount if having them in hand presents too much of a spending temptation...and OP would still be ahead.

I didn't get the impression that OP did this with the intention of being poorer in the end. Is that the case? It feels like there is more than "tough love" going on in this thread.

Welcome, Omy. You may want to scroll up to my first post on this thread and read the copy TorontoGirl's very first post on this Forum. When I saw this thread, I took the time to look her up and read every post she had made since she joined last month. I then shared her first post here, because it's totally relevant to the topic.

This is a scary situation because of what she has told us of her past. Without that history, this could have been a decent hack, but in TG's case, it spells T-r-o-u-b-l-e.

Finally, please try not to chastise people who are attempting to help without thoroughly reviewing the original post and the comments before you lay judgement. We really do try to be helpful here.

[Omy]

How welcoming! If the OP chooses to do so, she can still come out way ahead.

There are a number of ways to read this thread. These two were my first thoughts:

1) OP is trolling. If that's the case, OP is triggering some posters here (and its probably best not to respond when triggered.)

Or

2) OP saw an opportunity for "free" money - then panicked because she realized she had slipped into bad past behavior and tried to figure out how to fix the problem. I agree that buying a purse is not a mustachian fix, but bartering with family (cards for rent) might be. Turning them into Visa cards to use on necessities and bills might be a good solution as well. Both of these options can net OP up to a 10% return on her money. Returning the cards might have been a good option as well, but OP would lose the 10% ROI.

Another possibility is that she intended to go on a $10k shopping spree at the mall. If that's the case, this is probably not the best forum for OP. But without knowing her or her intentions, I assumed one of the first two options was more likely.

Some posters seem genuinely helpful in this thread, others seem to be in attack mode. If OP is a troll, she is relishing the attention. If not, she's probably feeling bullied - which would not be helpful for somebody with depression/anxiety.

[remizidae]

I also took a vacation day (Mind you, a legit vacation day as I have some left until end of year. No, I didn't call in sick) to go see Black Friday deals, and so they accompanied me in case I did anything else, equally stupid...

I was a serial shopper, but I've phased out most of it. I still have a lot of dresses with tags on, but most of those purchases were from between 2011 to 2013 when I had a really bad case of depression.

Do you think it's a good idea for someone with a buying addiction to be spending time in a shopping mall? You know most people don't take a vacation from work in order to have more time to shop, right?

If you're still reading, I would challenge you to institute a shopping-mall ban. No more malls (or other clothing stores) for the rest of this year and the next. If you really need socks or underwear, you can buy them online or at Walmart. Just as a person with a drinking problem might need to stay out of bars, you need to stay out of shopping malls.