You probably do, even if you don’t know it!
Do you have harmful shopping influences?
This is probably one of the most difficult but rather interesting areas about spending money – but as you will appreciate that it is really essential that we look at it carefully.
Do you ever feel as though you are spending money based on the desires of others that influence you? Do you always feel in control about how, when and where you are spending your money? Could you possibly be under the “silent manipulation” of others when it comes to handling your money?
If you answered “yes” to any of these questions, then you likely are being promoted into spending your money in ways that are not aligned with what YOU want and need.
This is a prevailing problem for many individuals as they see themselves never achieving what they want from their money, while others seem not to have this difficulty.
Let’s explore this.
Are You Being influenced by Others When Spending Your Money?
Let’s be clear that we are not talking about advertisers and all of their tactics. We are speaking here about people close to you, as in family and friends, that have behaviours and expectations that are impacting you.
There are several ways you may be influenced by others that can often result in a less than advantageous outcome for you:
- You are around person(s) that have similar money challenges that you do.
- You feel the pressure to spend money when others are doing likewise.
Let’s look at these separately.
Shopping with Person(s) with Similar Money Challenges as You
People that have similar money habits as you will not be equipped to watch out for your best spending interests as they have those same oversights. This is often not because they don’t want what is good for you, it’s simply they just don’t know any better. Also, since they don’t know how to behave differently to change their situation, it doesn’t occur to them it may be unfit for both of you.
What to Do?
- Don’t take this person along on any major shopping occasions! They will have you thinking and acting in ways that are not always advantageous to your spending goals. If you really value their opinion, talk to them in advance and show them what you wish to purchase, but don’t have them accompany you on the actual buying. They may tend to steer you towards spending more than you want or need to.
- Regular shopping – always take a list and stay with it! Don’t allow anyone that you go with to take you off course with your purchases. Buy only what you have determined beforehand and enjoy that persons company not their spending advice!
- Budget, budget, budget – always have a predetermined amount that you plan to spend and don’t sway from it. If someone else tries to encourage you to spend more, than say that you have set this amount aside and that’s it.
- Take cash – if you use cash for your purchases and leave your credit cards and/or bank cards at home, then you can only spend what you physically have with you.
You Feel the Pressure to Spend Money When Others are Doing Likewise.
You will always be around some people who not only like to spend money but they have more money to spend. It’s a fact there is just more money available for some individuals than others.
This shouldn’t intimidate you or make you feel as though you need to keep up.
What to Do?
- This can be difficult in certain social situations. However,before you go out, be sure you know exactly what you will be doing so that you may estimate how much money that you will potentially need in order to partake in the occasion the way you want to – therefore, no surprises!
- Learn how to handle these situations with comments like “I have enough,” “I feel good and don’t wish to buy more,” “I have all I need” you get the idea. Anything to delicately get through the situation in a way that lets other(s) buy what they want without them feeling that you are losing out.
- Any person(s) that you are spending time with should respect you and should value the time you have together, not how much money that you are willing/able to spend. Spending more money does not mean a better time out!
- Remember this all becomes easier overtime if you go out or are spending time and money around the same people – they get to know you and will not question your ways of behaving.
Have an “accountability partner” someone that helps to keep you in line with the importance of properly managing your money. It is important for you to realize the need for you to manage your money in a way that is good for you.
Also, have a budget or “money plan” in order to successfully navigate the multitude of choices and options available for your money and to decide what is in your best interests.
As a final note . . .
DON’T GIVE IN!
It is your money, you worked for it – so control it!
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