Today I Learn… I make a point of learning something new everyday. This is what I learn each day

1, Jul 7, 2011

Overspending, Debt and Impulse-Control, Part II

Filed under: Money — admin @ 12:50 am

Continued from yesterday.

(2) “People will like me more: Overspenders may believe that a purchase will make it easier for them to connect with others. One woman in the study wanted to buy a house so that she could entertain and be more social, and thus find more friends.”
People attract others with their strong character, nice personality, wit and humor, and tons of success traits, not by with what they possess.

(3) “I’ll be more fun: Some believe that a purchase will make them more fun and fulfilled. A man in the study wanted a mountain bike because then, he figured, he’d become more adventuresome and interesting.”
It is so pitiful that people cannot create fun from what they have. Think of the moment when you go broke, unable to pay rent and bills or to put food on the table, and go homeless in the bitter cold winter night. Is that more fun?

(4) “It’ll make me more effective: The typical overspender believes that a purchase will make them better at a certain pursuit. Several in the study said that a new car would make them more independent and self-reliant.”
Independence and self-reliance are the qualities that one cultivate over time, not any purchase can accomplish this.

By the end of the day, if people cannot control their buying impulses, they can always find excuses to lie to themselves and to others until they go deep into debts and end up being as miserable as you can think of.

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