 |
| This is just wrong! |
All the ads seen on television are so
attractive. That is what product marketing does, it attracts you to want what you do not need. This dilemma feeds a spending
habit and can contribute to debt quickly if one is not careful about his or her
spending. Here are methods in regulating a spending frenzy and helps the buyer
spend only on needs and not the wants.
Resist it
first: Many times the person will
see an item and buy it without thinking of the needs over wants. This is called impulse
buying and the shopper in not thinking of long-term as much as he or she is
thinking of an item as a have to own fad. Contemplate your last few purchases before jumping
into another. Ask yourself, “Do I really need this or is it just something I
want?” Walk away and think about whether you will regret spending the money or
where will it go after it loses the charm creating the want. Consider this time
as a cool off phase.
Avoid
spending to alter your temper: Are
you down? Do you need a pick-me-up? Well, do not waste your money on a purchase you
will regret later when you are happier. Later, this hasty purchase may cause
another crash in one’s mood after realizing what he or she has done. Ask a
mature and supportive family member or friend, go workout at the gym, or walk
on the beach. A nice alone time with a camera may be all one needs to get over
a situation. This allows you to overcome the mood that spurs on crazy spending.
Avoid
recreational spending: Do not
entertain yourself with a trip to the mall or car dealership. Many people surf
the web or see what is available and that is all one needs to satisfy the
hunger. Going to the mall needs planning. This planning will ensure a
successful visit without a costly mistake. I like to make a list of essentials
or create a plan of action before visiting the stores. This is the best
medicine for a recreational shopping virus. One should take the time to figure
out what he or she needs sometimes that can be just as fun without the headache.
Be
selective with associations: Desires
are fueled by
friends and lifestyles. Do not try to keep up with the Joneses; just be the
influence that
others are attracted to. So you say to yourself, “I don’t want to be the
leader!” But the
moment one makes a decision, he or she is a leader. Largely because people look
at what you do and try to follow the same behavior. If you emphasis what you
will be smart within your spending, your friends, and family will follow your lead. This
is not a bad thing, so do not overspend to keep tempo with others, be selective
on what you buy, and others will follow the same path.
Use credit
only as an emergency: Cards are
to gain credit scores not for ignoring your spending habits. The consequence
for thoughtless credit card charging is spending more than one can repay
comfortably. This thoughtless act creates animosity among couples and can drive
a wedge between even the best of us. Only charge for emergencies, and only
spend what you can payoff within that month. This will increase your credit
without damaging your pocketbooks or your relationship. If you do spend for
fun, realize you are paying up to 25% over what you purchased that item for as
you are charged
interest over the initial cost. Ask yourself” Is it worth it if you
cannot afford the item in the first place?”
Recognize
your financials: Knowing what
you have to spend is easier than spending too much and later realizing you made
a mistake. Balance your checkbook, but if this is too much to ask, make a point
to round up your purchase amounts and know what you have in the bank as a
ballpark figure. This will help in developing a record of purchases and
leftover funds.
Develop a list what you need and what you have in the bank to spend. If you get a
manila folder or envelope, and write your spending totals on the cover, it is
easy to add up your spending as you go. You also have the information on your
spending in one area so you do not have missing costs surprise you later.
Again, ask a mature and trusted individual for financial matters that you may
not be familiar within your accounting.
There you have it; methods in regulating a
spending dilemma. This should help the buyer manage his or her spending habits
for the needs and not the wants in the home. On another note, if
the individual does a good job, and he or she saves some money in the process
than by
all means buy that something special if you want, but only after a success as a
reward for a job well spent.
