University of Missouri Extension

Spending (part 2)

One-third of all consumers are influenced in their shopping decision by emotional factors, including fun and excitement, stress reduction, and concern for family welfare. All of us make money mistakes – the trick is not to overdo it! Do any of these spending personalities describe you?

An esteem buyer buys to gain peers’ approval. Tip: Gain your own esteem by conquering spending mistakes.

Do you spend excessively on a habit, hobby or collection? Identify the underlying causes for being an overdone buyer. Perhaps you are bored. Ask a friend or professional for help.

A hot potato buyer delays making decisions, then reacts impulsively. Tip: Take time to educate yourself before making important financial decisions.

Source: Adapted from Spend yourself rich! by Grady Cash

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