Page 62 - Workbook2E

Your Financial Stress Profile—Evaluations Stressor No. 10 Making Purchases from page 42
“Born to shop!” Some people love to shop and consider it a form of recreational therapy. Others hate shopping or avoid it when possible. But everyone shops. The different ways people deal with shopping can make a big difference in the levels of stress they feel. Also, there is a big difference between “shopping” and “buying” that has to do with planning how to spend money and spending it. Consider these recommendations based on the results of Your Financial Stress Profile questionnaire.
You currently feel fairly little stress from spending money and making purchases.
Your answers suggest you’re not very concerned about how you spend your money for things.
Be aware you may spend money you don’t have. Your attitudes may also leave you open to buying things you don’t need, or items of lesser quality when more careful shopping would allow you to make wiser purchases.
Guard against impulse buying. The stress you may feel later, if you realize you truly wasted your money, can be avoided.
Study investment strategies to improve your life and the lives of those around you.
Care in handling your money, shopping and buying, truly is its own reward. Seek to find areas for better discipline in handling and accounting for your money. Inventory your possessions to determine your true satisfaction with them. Ask yourself, “Do I really need all these things?”
You currently feel moderate stress from spending money and making purchases.
You tend to be a somewhat selective shopper, but you’re not above making an impulse purchase if the mood strikes. Be aware bargains can sometimes be costly.
Avoid the stress of making bad shopping and buying decisions by making better plans before you shop. Shop during slow hours and give yourself extra time to shop. Enlist the best advice from clerks and cashiers regarding your purchases.
Shop for more than just current needs by always planning ahead rather than giving into impulse buying. Planning your shopping saves time and money.
Shopping is searching for, pricing, considering, trying on, etc. Buying is parting with hard-earned money; learn to separate the two. Understand the difference each makes in your life, and the stress they can create.
You currently feel a lot of stress from spending money and making purchases.
Your answers suggest shopping and buying are stressful activities for you. You may be worried about overspending and about the quality of the things you buy. You may be fearful of what others may think of the purchases you have made.
Also you may feel you’re an easy ‘mark” for clever salesman. But, whatever your feelings, you need to take an organized look at how you spend your money and the stress it creates within you.
Spend from a budget, and promise yourself you’ll stick within it. Save ahead so
you’ll have sufficient funds
to make your purchases. Plan your shopping and buying. Do “imaginary” shopping on paper. Perform trial shopping runs, leaving your money at home, before you actually buy anything.
Remember to spend a little money just on yourself now and then.
58 Workbook 2: Improve Your Financial Life