Beware of your habits

Beware of your Habits If you live in the C.S.R.A, and watch the news, you may have heard that Bass Pro Shops and Cabela's will be opening stores up in Augusta, GA.  Now I enjoy the outdoors some and learned a lot about how to spend more than I made at theses places with their catalogs in the past! When I heard the news about the physical locations coming to Augusta, I thought wow that will be better if I ever need to buy anything from them I can just go by and pick it up.  It made me ask the question do I spend more when I buy online or when I am at a store.  Also, do I spend more when I use a debit card or cash?  How about you, which one of these situations cause you to spend more?  I tend to spend more when I shop online and use a debit card.  Think about it, there is no feeling of "loss of money" when you use a debit card, or a credit card if you use one,  and buy online.  The merchandise comes days later when you shop online and no cash is missing from you instantly.  Oh and I remember the thrill I would get when there was a package at the front door when I got home from work!! We can also get addicted to that feeling and this will cause us to spend more too. When we spend cash they say your brain registers it as pain when we hand our cash over.  I believe this is true because it hurts when you break a 100 dollar bill!  Also, statistics show that we spend 18% more when we use a debit card or credit card.  I have told this lie to myself before, I will pay off the credit card when the bill comes in.  Most people never pay them off when the bill comes in, and credit card companies knows this.   Marketers and creditors are sharp!  Retail stores make it as easy as possible for us to pay them.  In some places all you have to do is wave your card  or your cell phone to pay.  These things make us think we dont spend as much as when using a card.     If I go to a store with a certain amount to spend I will look and shop till I get my price, then I spend that amount, and I am done.  If I am shopping online I tell myself, I cannot just order one thing and pay all that shipping for one item, why not buy this other thing to make it worth the time.  We need to ask ourselves these questions; what causes me to spend more?  What do I need to do to stick to my budgeted amounts? If people can make monthly payments they can make payments to their savings accounts and pay cash for things.  Remember children do what feels good and adults devise a plan(budget) and follow it.   Another thing that will help you is to not use a credit card and use a debit card instead.  You are forced to keep up with your balance verses a credit card.  So get your plan ready for back to school shopping and the other things for the last half of the year. Remember to check your habits.  Quotes for thought: Give yourself to prayer, to reading and meditation on divine truths: strive to penetrate to the bottom of them and never be content with a superficial knowledge. David Brainerd America is a land of taxation that was founded to avoid taxation. ~ Dr. Laurence J. Peter The American Republic will endure, until politicians realize they can bribe the people with their own money." Alexis de Tocqueville, (1805-1859) There is not a lot you can do about the national economy but there's a lot you can do about your personal economy. - Zig Ziglar

Quick Links... Our Website  Products Services  More About Us Favorite links Contact Information phone: 706-840-0992

Black Friday- Get a plan

Black Friday- Get a game plan!

Its that time of the year, turkey, dressing, eating till you cant eat anymore and the super bowl of shopping, black Friday. This is no place for men, sorry guys, we just cant cut it in this atmosphere. Men if you think you can hang with your woman on this day you will think you are in the middle of an Old Testament plague with no end in sight! Think about it, Target has the commercial of a woman training for this day. I know women who start at midnight on Thursday, and you may not see them till Sunday! I prefer the on-line shopping method, Amazon, e-bay, and Cabela's , (my favorite) its a lot safer than the mall. So ladies I thought I would try to help the men out so they do not pass out when you give them a total cost for the event.

I think the ladies will like this, its kind of like a battle plan when you storm the beaches of retail.

Set a budget on how much you will spend before you get in the store. Spend your money on paper before you actually get in the store. (Include a couple of stops at Starbucks for a caffeine boost.)
Make a list of everything you would like to get, and stick to it.
Resist the urge to reward your self with a nice gift.
Don t get caught up in its cheap I should get two. Stick to the people on your list, don’t add if you don’t have to, or you really want to, and you can afford it. Don’t feel guilty if someone gets you a gift and you don’t get them one. That is part of the joy of the season, giving without anything in return.
When you get to the exhausted part go home and take a nap, you will spend more and will not care what you buy when you get really tired.
Remember you do not have to buy everything that day. There will be plenty of other opportunities before Christmas.
And finally have fun, and don’t stress out. (Men trust me do not go if at all possible, you cannot survive.)
Have a Happy Thanksgiving!

Tim West
Go West Coaching
Financial and Career Coaching
11-21-11