Monday, September 2, 2013

Hey, Big Spender!

oh hey! Yes, you. i'm talking to u~

Do we realise that we are buying things that we did not need?
so why are we buying so much?
We fall for the marketer trap that make everything so fancy, that turns 'want' to 'needs'.
Promises made through advertisement....

'Improve Your Quality of LIfe' - Messages about all our desires. Better health, security, relief from stress, closer friendship..... can be achieved by making the right purchase.
Do we actually need this things?

'Gain Status and Prestige' - few people will admit that they buy to impress others. Sometimes we buy somethings simply due to competing behaviour. We wan to have something our friends have, our rival have, our neighbour have.... Something that we don't really need it.
*comparison with others creates a never ending cycle of dissatisfaction.

'Define Your Identity' - a common way we tell others who we are, with display of material possessions.  You care much about what others see you as, your image. By buying the product brand, you adopt the brand's identity as part of ur own.
*No product can change who we really are or give us admirable qualities.


WIth all the product attraction, how do we control our spending?
can we do that in real life? other than watching from movie (confession of a shopaholic), read stories from magazine.

  1. Resist Impulse Buying. Everyone enjoy the excitement of shopping and finding a bargain. If u tend to purchase on impulse, slow down and think realistically about the long term-consequences of owning it. One thing i always do is, i will take few days of 'cool down period' to think about the product, after few days if i still wan to buy it, i will buy it. If the purchasing desire is gone, is good then. 
  2. Avoid Shopping to Alter Your Mood. Shopping can temporarily lift ur mood, but when negative feelings return, u will have stronger urge to seek relief through spending. Instead of shopping to improve ur mood, try some other healthy path. seek few supportive friends to talk about or engage in some physical activities such as taking a walk, jogging, outdoor activites. 
  3. Do Not Shop For Recreation. Although you may visit a mall to browse the internet, much of what you see is designed to stimulate your desire to buy. Shop only when you have a specific purchase in mind and stick to ur plan.
  4. Choose Your Associations Carefully. Your friends' lifestyle and conversation greatly influence your desires. you might overspend to keep pac with your friends, choose friends who place less emphasis on money and material things. Lucky for me, i have bunch of frens that live simple, not over dress when we meet up or luxury meal. I never wore make up when i go out, do u believe that? 
  5. Use Credit Cards Wisely. With credit cards, things get easy to buy ignoring the consequences. For those who own credit cards, try to pay credit card balances full each month besides knowing your cards' interest rates and fees. Compare credit offers to get the most affordable cards. 
  6. Know Your Financial Status. It is easy to spend excessively if you are not sure about your financial status. keep records of ur spending and know ur financial situation. Track ur spending and compare it with ur plan. Ask a trusted friend for help in understanding financial matters that are unfamiliar to u. 


Sources are from JW magazine.

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