#The person who spent money like water professional#

Paying your debts on time is important for many reasons. Before making a payment or paying off an entire balance, most experts agree that it's a great idea to review the statement against the purchase receipt to confirm the totals match. After all, we're all human, and humans occasionally make mistakes. One area many people neglect is checking the accuracy of billing statements. Practices such as keeping a conservative debt-to-income ratio not only allow you to save more money, but also impact your credit score and help determine whether you can qualify for a mortgage or an auto loan. When asked about their thought process behind purchases, a majority of people were willing to admit that their desire to make the purchase outweighed their logical side.Ĭonsumers who routinely make sound financial decisions understand that budgeting and tracking their spending is essential.

Many people are driven by a desire to satisfy themselves, often in the form of material possessions. Next are the one-third who spent smaller amounts on multiple purchases, not realizing the total amount was quickly entering the 'wasteful spending' category. Oh, and let's not forget the 31% who were sold on the fact that an item was 'only available for a limited time.' Is paying half price for an expensive item a fantastic deal when you probably shouldn't spend the money in the first place? It was rationalized by the 40% who indicated they bought something because it was discounted or on sale. Have you ever heard a spouse, partner, friend, or family member brag about getting a 'great deal' on an unplanned purchase? Slightly over half admitted it made them feel good.ĭon't think practicality isn't a factor. That might explain why almost two-thirds of survey participants (the top response) said they wasted money merely because they wanted something. Do you recall the phrase, 'Keeping up with the Joneses?'

Would it surprise you to see almost two-thirds of those surveyed confessing to wasting 'a considerable amount' of financial resources in their lifetime?įew can deny that one reason Americans spend more than they should is peer pressure. When was the last time you compared credit card interest rates and fees to make sure you have the best card for your spending habits? Over one-third believed they pay, or have paid, excessive or unnecessary interest rates. Can most people honestly claim they compare prices and quality before purchasing something? Almost 30% of respondents admitted to not doing so very often.Ī majority of Americans use credit cards instead of cash to purchase items.

#The person who spent money like water professional#

Professional marketers are trained to design ads and copy to entice us to make impulse purchases. The same applies to other types of dine-in eateries, as noted by 41%. However, 54% of our respondents admitted to spending too much money at such establishments. How often do you bring extra food home only to toss it in the trash weeks later because it's stale or covered in green mold? A staggering 70% of respondents confessed their guilt in this area.Īlthough a fast-food chain's new menu items may look delicious in advertising campaigns, nutritionists and health experts recommend enjoying fast food, at most, occasionally.