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Ask yourself the reason for making that spending decision. Did you buy something necessary such as groceries or medication? Was the tem something you needed or just wanted at that moment? Did you orry about having enough money to pay for the item? Did the urchase cost more than you thought it should or did you even worry bout the price? Will this spending decision have a big effect on hether you’ll be able to purchase other things later? Did spending the oney make you feel guilty or did it give you pleasure?

Now, try to recall a particular incident where spending money had a trong emotional impact on your life or the lives of your family members. What made that incident so emotional?

One of the most important questions you can ask is: “How does spending money make me feel?”

Through years of counseling thousands of people, we have heard countless reasons why people spend money. Many of those reasons ave more to
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Money Mastery
do with a person’s circumstances and the way they feel about those circumstances than whether there is, or is not, enough money to pend. Let’s take a closer look at what we consider the three most ignificant reasons people spend money.

Impulsiveness

As we noted in the Introduction, we live in a world full of emotional3 edia messages. These messages often play upon people’s deepest sychological needs pointing out all the things a person may lack in is r her life. Responding to this supposed lack, many individuals pend money impulsively without thinking as a way to meet unfulfilled esires. Without the proper respect for money our current society has ecome notorious for impulsive, reckless spending. According to ichard A. Feinberg, professor of Retail Management and director for he Center of Customer-driven Quality at Purdue University, up to 50 ercent of all consumer purchases are made on impulse.1

aken from : Money Mastery “10 Principles That Will Change
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