Tuesday, September 4, 2018

Do not fall for Instant Gratification. Be Money Wise

Instant Gratification
When it comes to personal finance people tend to close their
minds. Those who spend hours hunting down best deals and discounts
refrain to spend some quality analysis of financial products. Instant gratifications to acquire luxury products, creates a
sense of urgency among masses. They spend and sometimes People overspend beyond
their means. Driven by the deal, they ignore the rate of interest they pay.

Indeed, it is not evident that "Discounts are expensive". Deals and Discounts urge you to indulge in an expenses which you were not supposed be incurred at first place. The fear of missing out on irresistible offers make one fall into such a expense trap.    

Never listen to your voice of “I want it now”. Its not an inner voice; it is the marketeer who designed such a temptation which runs his business. You are supposed to do charity for businesses; ask yourself “Do I really
need it?”. As a consumer we are segmented and categorized based on our income groups and buying behaviors. In this information age and advent of social media (read marketing platforms) we are bombarded with hidden commands to buy or indulge in product and services.

Last week I accidentally did factory reset of my phone. I realize that I spent so much of my time on the apps which were installed on my mobile. With lesser number of apps in my mobile I find my days peaceful. I am not missing out on anything. What is necessary, it is reaching me what may be the case. I forgot to reinstall Whatsapp. Still I am alive and communicating with my near and dear ones. Those who want to reach you will reach you. Technology is just a medium. Technology has equipped these marketers to reach us with innovative ways as well. Market leaders are creating a big lies of the aspiration in their products and services. The challengers to the market leaders are in constant attempts to get our eyeballs rolling. They seek our attention, they want our money and they want you to promote their products as well.      

Be it online or offline; you must ask yourself "Can I manage for a couple of weeks, I don’t buy this now?"

Buy Assets Not Liabilities

Personal Finance Simplified by VittVishesh

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