Tag Archives: shopping spree

Can You Invest By Shopping?

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We have recently been discussing the concept of investing, which involves putting money into a venture with the expectation of making a profit. Whether you invest in financial securities, property or a business, the general idea is that you decide to forgo spending money in the present, in order to secure some benefit in the future.

Many people will admit that they find it difficult to invest, as they would prefer to get the instant gratification of spending money than waiting to reap a potential reward in the long term. Why invest and risk your money, they think, when you can buy something right away and enjoy the fruits of your labour immediately?

Some time ago, a reader e-mailed me about the concept of investing versus spending. He introduced a simple but thought-provoking idea — What if more people were to say, “I invested my money on an item instead of I spent my money on it”, would that encourage them to make wiser spending choices? Continue reading Can You Invest By Shopping? →

Shopping on Impulse

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“My husband and I have been trying to budget, as we realize that most months we can barely make ends meet. Last week, a large-screen TV from a popular furniture store was delivered to our home. My husband had mentioned nothing about this purchase prior to delivery.

“I am very upset that he broke our budget for a totally unnecessary item. I can’t understand why he did this, and I need some advice to make sure he doesn’t do it again.”

It’s difficult to try to live a frugal lifestyle nowadays. We’re constantly bombarded with advertisements encouraging us to buy with no deposit down, or enticing us with expensive rewards if we purchase from their store.

Unfortunately it seems that your husband may have given in to the understandable desire to see the World Cup Football matches in large and living colour! Continue reading Shopping on Impulse →

Fighting the Urge to Splurge

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“I know I can save much more than I do right now, but I can’t seem to stop shopping. Most weekends I’ll go on the plazas just to look around, but by the end of the day I’ve spent thousand of dollars on things I really don’t need. How can I stop this unnecessary spending?”

Let’s face it: shopping is fun. It’s hard to match the adrenalin rush that comes when you see a SALE sign on the window of your favourite store, and it’s easy to become addicted to the emotional high that comes from buying something new.

However, if you admit that you’re wasting money on things you don’t need, then your shopping is out of control. One of the keys to achieving financial freedom is being able to have power over how and where you spend your money.

Every dollar spent on consumer items is a dollar taken away from building your wealth. Continue reading Fighting the Urge to Splurge →