Sensible Advice for Anyone Who Wants
Better Control of their Money Spending
by www.Sedona.com People spend money for many reasons. Once the basic necessities are covered, you may find yourself splurging on a new summer suit because you deserve it, or buying a fancy car to show that you’ve made your way in the world. Perhaps you spend to send your kids to a top-notch college, or give in to a late-night infomercial and find yourself with the latest ab machine on the market (so you can finally get in shape). It’s not surprising that Americans are so good at spending, especially when you consider that the average consumer is exposed to more than 3,000 marketing messages every day, according to Bankrate.com. What is surprising, or at least concerning, is that 40 percent of American families spend more than they earn each year. Emotional Money Spending Triggers Indeed, some of the money that Americans are spending is going toward paying rising health care costs, exorbitant college tuitions and, of course, for gas. However, a portion of it is likely also being spent because of these top emotional triggers that drive people to overspend: • Feeling “overworked and underpaid.” You’ve worked hard all week for little satisfaction, so you “reward” yourself with a trip to the mall. • Depression, boredom, loneliness or stress. Some of us turn to food to make us feel better, others use shopping as a means to fill a void. • Low self-esteem. If you just buy that expensive watch, or move to the trendy part of town, you’ll finally get the respect and confidence you’ve always wanted. • Lust. You want it, so you buy it. And when you get it, you want something else. How to Control Your Money Spending As good as it may feel to make a brand new purchase, it can’t compare to the knowledge that you’re not in debt or in danger of losing financial control. In other words, achieving financial security feels great! Here are some tips to get your spending under control: 1. Use cash. When you pay for things in cash, it’s impossible to rack up formidable debts. 2. Let go of lust. “Lust is a feeling of ‘I want it, but I cannot have it. I want it, but it is not right to have. I want it, but I never feel like I have enough,’” says Hale Dwoskin, CEO and director of training of Sedona Training Associates. You can learn to let go of lust using a powerful tool called The Sedona Method, which will teach you how to release this and other self-limiting feelings. “When you get what you want, but do not let go of the lust, you never feel satisfied. The result is that you want more and more. If you let go of the feeling of lust with The Sedona Method you start to feel like you actually do have enough and can really enjoy what you have,” Dwoskin says. 3. Make a budget. Know how much you need for necessities and savings, then figure out how much you can afford to spend on the rest. 4. Enjoy life’s simple pleasures. The saying that “the best things in life are free” could not be more true! Take some time to walk in nature, play with your kids, talk with your spouse or visit your grandparents – enjoy these priceless experiences, and leave your wallet at home! Source
Bankrate.com
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