I’d love to say you have complete control over how you spend money. The reality is you just don’t. Like many things in life, it is those things we can’t control caught deep in our personality that really dictate how we deal with our money.
Some people are well balanced spenders but most people are out of balance one way or another. There are even people who too aggressively save money wind up with money troubles. I’ve seen plenty of people who give in to fear and are afraid to spend the required necessary on maintenance and a healthy life. They wind up living outward appearing lives that look disheveled while there is more than enough money in the bank.
Want to figure out what kind of spenders your friends are, take the test and answer the questions like you think they would.
If I was to make an observation about the largest camp of spenders, I’d have to say it is those that overspend. But again, much of that is outside of our conscious control.
Marketing messages and advertising drizzle over us nearly constantly and those messages create wants and those wants lead to spending. What kind? Take the test to find out.
I challenge you to take the test, just click here.
Let’s look at a couple of the possible outcomes from taking the test.
The Binge Spender often has a budget and may be able to follow it for extended periods of time. However, binge spenders have periods in which they overspend. Binge spenders may rationalize their behavior in terms of rewarding themselves (e.g. “I have been working so hard lately that I deserve to splurge on myself”). Other times their overspending may function as a stress reliever in reaction to an emotional crisis. Some Binge Spenders report feeling powerless when the urge to shop or spend comes over them.
Binge spenders often have a large amount of credit card debt. When asked what they used their credit card for, Binge Spenders will often be unable to cite anything more specific than “stuff”. They are often ashamed of their spending habits and sometimes will go to great lengths to hide them from loved ones. Guilt and disappointment are emotions that Binge Spenders may experience after buying something.
Does that sound like anyone you know?
As the name implies, people with a phobic money style are very anxious and avoid money matters. Sometimes this fear is due to a lack of skills or knowledge; other times it develops in reaction to very difficult financial experiences and being unable to pay ones bills.
Because of their fear and a tendency to avoid things financial, phobics may delay opening their bills and pay them late as a result. They may be unsure of how much money they have in the bank and bounce checks as a result. Phobics rarely invest because of their discomfort in dealing with things financial.
Maybe this sounds more like someone you know?
It is time for you to take the test, just click here.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.