When a person buys things without making decisions, this buying is triggered by emotions. This emotion controls the person’s money and gives the money direction. This kind of person buy things in an uncontrolled manner. There is a possibility that the person ends up purchasing products without any actual intent or critical thinking. His/her aim is to quench that desire to get that needed product.
After the frivolous spending, it dawns on the person that the taste for the product dies at the point or even days or weeks later, regretting why they acquire the product that adds no value to them. Some never regrets either, they look at it as collecting arts and they are happy to acquire more.
These irrational or unconscious thinking in buying impacts the person finance and these are one of the reasons people are in debt and live paycheck to paycheck lifestyle and they don’t really care of the future consequences because it’s a habit to always acquire the latest product. These buyers are more emotionally attached to what they buy.
People with these emotions are tapped into by sales and marketing people to capture them to buy more by exploring that weakness to generate more leads for the company. These emotions and feelings is always triggered by seeing well-design and promoted adverts on the product and services. These can be fliers, posters, billboard, television adverts, radio jingles and online ads that captures and magnets your attention which sticks and stay with the mind, becomes a desire and hunger, the person ends up acquiring it and feeling contented.
These unplanned decisions that led to unplanned purchase affects a financially struggling person or impacts even an already financially stable person that budgets his money. 80% to 90% of the time, these unplanned decisions are against the person’s conscious mind but the unconscious one that speaks louder and aggressive pushes the person to buying without rational thinking leaving the person in financial difficulties, feeling of guilt or disappointment, worries and others.
These unconscious buying can be grouped into different categories of product or services ranging from clothes, watches, shoes, mobile phones, jewelries, cars, electrical and electronic sets and many more.
That’s why more research is being released to exploit this traits or personality in people by introducing new products and services to the market that are innovative and creative, catching the attention of customers and making them hunger and taste for these products and services. For companies to meet up with this taste, they introduce products quarterly, bi-annually and yearly to quench this unending desire.
This unnecessary and uncalled-for trait is FRIVOLOUS SPENDING
What is FRIVOLOUS SPENDING?
This is buying things unplanned for in advance or impulsively. It is spending in an unconscious behavior in a pattern without planning.
WHAT PROPELS FRIVOLOUS SPENDING?
Our lifestyle of consuming and ever-changing environment and world leads us to acquire things without thinking of the end thereof. Is buying things bad? No. but when it becomes uncontrolled or unruly that the taste for that product cannot be quenched, it becomes dangerous to handle. This uncontrolled hunger causes anger, unhappiness and nervousness but when controlled it leads to mental balance and stability in every area of one’s life.
There are lots of answers to why people spend frivolously and I guess I might not be able to list all but subjecting it under control helps you in rational decision-making.
People spend frivolously because they possess inherited trait of frivolous spending and they are never aware of it. These traits have become habits which impacts every area of their lives. As the income comes, it all goes out with no record of money spent and even a penny saved. These set of people are social, concerned about their image and likely party freaks too. These people love looking good and presentable and always stand out of the crowd and draw more attention.
The other reason of frivolous spending has to do with the difficulty of controlling their emotions and their unquenchable taste for spending aggressively.
Thirdly, moody people, mood swing people or people with emotional crack in their relationship buys to make themselves happy and console themselves by spending frivolously.
Finally, these set of people spends frivolously because they want to show off that they are rich and classy. They tell stories of places they have never been or things they have never achieved. They can borrow things to show off just to catch people’s attention. These people are window shoppers or shopaholic and have many wishes that never become reality.
There are also people attached to a product and obsessed with it. These product or services creates a bond between the buyer and the product. Once new version of the product is released, these set of people rush to buy without unconscious thinking and this form a habit because of long time pattern. These people are attached to the product because of its creativity, vision and innovation.
There are people who buy because of competitor or pair. They compare themselves to their pairs and wants to live up to the standard of that friend of theirs by rushing to buy the product because they feel its attract respect and class.
Others enters a retailing place like a mall, once the image of the product sticks to their mind, they buy instant, others go to borrow to buy and others come back after earning their income to buy causing instability in their finance.
Knowing the cause of your frivolous buying can help cut down excessive spending and help live below your means to achieve financial freedom. These emotions can be triggered any time or any day it’s just your ability to subject yourself under control and put yourself together by thinking of things of value you will invest in that adds more value to you instead of buying that product.
By simply replying that voice speaking to you and quickly taking your eyes off the product or keeping the product back in the shelf from the spot you took it or not even touching it will go a long way to help you manage and handle frivolous buying NOW and THEN. You will be happy, complete, more fulfilled, money smart and more in control of your money than the money controlling you.