Spend Sensibly

Some individuals can hardly wait until pay day arrives to spend their hard earned cash.  Others sensibly check what funds are available and regulate their spending. Here are some suggestions that may help you spend wisely

1.

Control your eyes.  Advertisers know that the way to your purse is through visual appeal.  They devise visually stimulating marketing materials that may appeal to your eyes with the hope of winning your vote of confidence and then deprive you of your hard earned money.  You must learn at times to see things, take a long look at them and then determine if it is wise to invest in the item.  There is nothing wrong in admiring a new cell phone, clothes, furniture, car, or television and leaving them alone if you cannot currently afford them. ​

2.

​Control your ears. Another powerful medium through which you may be influenced to spend your money unwisely is your ear.  Along with the mass media, your spouse, friends, relatives, children and others may demand your listening ear with the hope of getting you to release cash to meet their real or imagined needs. Listen very carefully to what they are expressing and don't be too quick to give away your money at the expense of your own critical needs. I am sure you are aware of individuals who seemingly plan for your payday. Thoroughly scrutinize these individuals who very often appeal to your fragile emotion. When it comes to your children, inform them early about your limited income and help discipline them to close their ears to financial enticers. 

3.

Control your feet.  There are numerous places and activities that have a way of demanding your presence, especially on weekends and month ends.  For instance, there are fetes, parties, movies, and ‘limes’ some of which may be very costly.   I have heard statements like: "I am going to enjoy myself and deal with the consequences later".  Such an approach speaks of an individual who seems to have difficulty in controlling his or her appetites.  It is wise to think of consequences before taking steps that may later land you in a situation of financial embarrassment or distress.

4.

Control your feelings.  Emotions, if not brought under control may cost you more than what your pocket contains.  There are individuals who are impulsive spenders.  They purchase items because they feel like doing so and not because of a well thought out plan of acquiring them.  There are others who feel depressed or stressed and decide to go shopping to “feel good”.  These individuals often confess that after their shopping expedition, their inner problem does not disappear and they end up wasting money.  Seeking professional help for the underlying root issue is highly recommended for such individuals.

5.

Control your credit card.  Using a credit card is an easy means of purchasing items especially via the internet. With internet shopping, many compulsive spenders are easily caught in the buying web.  Credit cards attract very high interest rates and therefore you should try to clear your balance monthly before interest kicks-in.  Some months you may not be able to pay off your card debt in full but avoid just paying the minimum balance because you may be in your creditor’s hands for life. There are other costs besides interest rates, such as late payment fees and penalty interests if you exceed your limit.  Avoid withdrawing cash on your credit card because there is an extremely high fee attached to that transaction.  Use your card wisely. 

Why is it that humankind has been able to keep under control some vicious animals, huge aircrafts and massive ships, but appear to have difficulty in governing their eyes, ears, feet, feelings, and credit cards when it comes to handling their money.  Try not to lose control of what you toil so hard to earn; value it and utilize it levelheadedly. 

Haynesley Griffith
Marriage and Family Life Consultant
griffitharticles@gmail.com