There’s a reason they call it “retail therapy,” a reason why money disputes are the top cause of divorce, a reason there’s a 12-step program called Debtors Anonymous.
Money is emotive. In itself money is nothing; it’s very much a product of the imagination.
That’s why it’s important to get conscious about your financial behavior. Otherwise, a budgeting worksheet is as useless as a weighing scale, if you repeatedly visit the freezer in the middle of the night.
Have you ever frittered your financial aid to find yourself broke before term ends?
Listen to others who did in this story from PRI’s Marketplace on “refund checks.”
Why buy the latest iPhone when it lessens the likelihood you’ll graduate?
Questions to Ask Yourself:
- What motivates your behavior around money?
- What are your values besides money? Let your behavior reflect those.
- Are you a shopaholic? Close to one in 10 Americans compulsively overspends. There’s help.
- Have you a scarcity mentality? That can hold you back, too.
- Are you easily manipulated by marketers? A fascinating Frontline documentary called the “Merchants of Cool” explores how marketers research and influence teen behavior in an attempt to reach and manipulate a multi-billion dollar marketplace.
- Money Makes You Happy (not per the research)
- not above $50k a year in household income—even less than the $75k previously thought (Princeton)
- Lottery winners are no happier than average, and many are, bankrupt, several years after winning
- Rolex wearers are no happier than Timex watch owners (as cited in “Debt-Free U”)
- Money is Rational
- Better looking people get paid more
- Stock markets follow hemlines as they move up or down