There’s that one voice in the back of your head that’s the voice of reason, echoing the advice given in money saving conferences, or by a family member or friend. Basically you need to save something, maybe invest, and you plan too. However as the months go by there’s always something you ‘need’ to purchase, you see it and instantly you couldn’t imagine your life without it. All you can think about is how amazing it would be once it’s in your life. Before you know it, you start your month off budget, and fall wayward the rest of that month thinking about how you can make up for the money you lost. If this sounds like you, you may have a bit of a spending problem, but if that’s not enough to convince you, here are a few other signs that may show you the light;
You sacrifice something important for irrelevant valuables; you purchase something slightly above your price range, and as your cashing it in, you’re thinking about how you could maintain whatever money remains. Even if it means ignoring anyone who you’re in debt to, or maybe not buying particular textbooks for the lectures you attend. After all it’s never that serious, you’ll have enough money to do all that in a few weeks anyway.
Buying stuff de-stresses You; you’re sad, so you decide to go shopping, you’re angry, and once again shopping is the first thing on your mind. You rely on buying material things to keep you leveled emotionally. Once you get those items into your home, you feel a slight wave of happiness wash over you. Problem is you might need that money you’re spending later on, which may cause you to struggle financially during that time, find a better way to channel your negative energy, rather than constantly spending.
You buy it because its on sale, not because you need it; its 50% off, and it wouldn’t look too bad on you, so why not. After all, those percentages make it look like you’re saving a ton. Then you take it home, and mostly it just sits in your closet. When you do acknowledge it from time to time, you realize you just bought it because the price was fantastically fair. When you’re buying outfits or anything that is sold during a sale, think about if you’d ever really use it. If not, then don’t buy it.
If this is you, ensure there’s always a little money that’s kept safe somewhere, you never know, you may need it for a rainy day. While purchasing a few valuables here and there is exciting, it’s always wiser to exercise some financial control.