There are many reasons that people over – spend. After talking with so many people, by conducting surveys and helping people throughout the years, I have come across with the points I hear most often.
Take a look on the top 10 reasons–
People go crazy when they see that there is a season off sale, season starting the sale, all they know is that they can get the best clothes at best price, they even over-spend.
Keeping up an image
Many people over-shop keeping the image in mind like for example what will the neighbors think, the family members think, I don’t have different varieties to wear but maybe the neighbors are also thinking the same as you are.
The money is on its way
People get excited that the salary is coming even though there are 2-3 more days left. When they heard they were getting money, they spent it before the money even comes in hand.
Credit don’t feel the same
These days, so many people only use credit cards instead of debit cards or cash and tend to spend much more than they would if they have used cash instead.
When you go to a store, you like that thing and think I want this now, then get credit in 5 minutes you get the sense of accomplishment. You get what you want now and think later How I am going to pay this when you check the bill.
After a person has lived a nice and wealthy life, but suddenly the things get complicated like there comes the bad phase in your life financially, it is really hard to give up as from the beginning you were maintaining that lifestyle. They feel it will be maintained even if you are in debt.
Spending some money on a haircut, some money in the spa, some in shopping, facial every other week sounds outrageous to some people, but for most of them it makes them feel like they are someone, they are something to the world.
Poor as a child
Many people who are poor as a child feels to spend everything as soon as they can, there is a fear of someone taking the money from them. They must realize if the money is yours, then it’s only yours.
Sense of power
Spending money on anything makes many people feel more powerful as if they don’t know what they have done by spending. The simple act of spending a money gives them a false sense of power.
Just can’t say NO
The one which I have heard the most whether the child is asking for the toy from the parents or the spouse is asking for any gift. For them, saying NO is a very tough task even if it comes to a dead end.
Shopping is necessary, but one should not over the shop. If you have money, save them for so many other things. For more related articles, do visit the site and don’t forget to drop in your comments below.