The economy is poor, but that's not the only reason that people are in debt. Other factors play a huge role in the circulating debt that swarms above the homes of America, and one of them is the "I need it" attitude. It's not easy to avoid; there are messages everywhere that promote items and convince us that we need them. However, our ticket to debt freedom is only given to us when we learn to prioritize our needs.
What We Really Need
There are basics and then there are luxuries, yet today's America wants the luxuries. There is something that disturbs many people when they cannot keep up with the Joneses. Yet, it's not the Joneses with whom we must keep up anymore. Years ago we were measuring our acquisitions by our neighbors' claims. Now, in the age of media, we must keep up with not only the Joneses but the Californians, the New Yorkers, and the other Cosmopolitans.
Try this awareness activity: list all the commercials on TV in a one hour period. Label each item which the commercial was promoting. Then, label each as necessity or luxury. Keep in mind that air fresheners, hair coloring, and prepared foods are all luxuries.
When We Really Need It
New floors are a necessity, at times. When the carpet has holes worn in it, is unraveling, or no longer resembles its original state it is time for a new carpet. However, because the new style is Berber and your living room sports high pile does not make this a necessary purchase. Instead, keep in mind what you'd like and wait until the luxury becomes a necessity.
Our impatience hurts our wallets when we see the items advertised on TV and in magazines. Lures like no money down and deferred payments make the temptation even worse.
Why We Really Need It
Ask yourself why you want something before you buy it. Be honest; no one will know your answer except yourself. Is this something that I truly need? How many times will you use it? How long will it keep its value? Is there something else I want more? If I don't buy it now, will I still want it in three months?
Important to your answers is the influence of the media upon your desires. Ask yourself if you recently saw an ad on TV or in a magazine for the product for which you're longing. Did someone you know just purchase it? What made it pop in your head as the newest want on your list? By realizing the catalyst for your desire you may be better able to understand your spending habits.
Ultimately, the goal is to control and curb spending. Not only does overspending hurt a bank account but it clutters a home and takes a large chunk of time to deal with it. Instead, focus on the true needs of life: happiness and the basic essentials needed to live. There are so many in the world without these things. If you take the time to look at them you'll realize that the designer sweater isn't all that important; the one you have is more than what others have.
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RE: Combat the "I Need It" Attitude
I think the most important thing is to develop our own minds and our own good taste. I wonder at the folks who hunger for a baronial lifestyle. I have a taste for old things,too - but my things are really old & BARGAINS - rather than knockoffs. (And they retain their value, too.) We all should try to make our homes comfortable and pleasant places - but extraneous electronic gadgets at premium prices won't do it...And what's with DVD "collections"? How many times can you watch a movie, anyway? Most of this is what used to be called "keeping up with the Jones's" - or conspicuous consumption - "I spend because I CAN - ha, ha!" It used to be snidely called nouveau riche - because older money knew how to maintain their fortunes!
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