Are you an emotional spender?
How do you spend your money?
Are you a penny pincher? Free
spirit? Both? Most of us are a combination of the two. Today’s society has promoted an” I want it
now” attitude. Credit cards are at the
base of that attitude. The average
American household with at least one credit card has nearly $10,700 in credit
card debt. Cities, states and even countries are going
broke because they haven’t managed their finances. By being able to buy what you can’t afford,
we feed the ability to not pay attention to the money we spend. If we are not paying attention mentally then
we will be lead by our emotions. Who is an “emotional “spender? Basically it’s the person who is spending
money impulsively on things they don’t necessarily want or need.
that an emotional shopper might say:
don’t have time to look for sales. I shop
have to have it! I deserve it because…
Christmas (Valentine’s Day
etc) and I have to provide gifts like everyone else does. If not, I will be a “bad” parent, friend or
selfish. How? You might say but I’m
buying FOR someone else! Not myself. I’m giving to others so how could I be
selfish? Well if you don’t have the money
you are spending, you are not thinking of your future and maybe putting it in jeopardy
by putting yourself in debt. You are important in this equation.
need and want you have to exercise discipline. Ask yourself – Do I (or my family/ friend) need this
thing I’m going to buy or do they just want it? Do I have the money (best way is cash) to
purchase it or am I setting myself back trying to please someone else?
generation and we are naturally somewhat emotional at times, we need to THINK
about our money not FEEL our purchases. The benefit of managing your money is that
you will get what you need and want and we
will help the next generation reach prosperity.
later thought about and regretted?
Share your experiences so we can helpeach other.