Black Money Business Jobs : Can You Share Examples of Emotional Spending

[Destee]

Peace and Blessings Family,

Brother Shikamaru shares great money / law information, and now has his own forum!

This topic ... Emotional Spending ... came up in this thread ... Understanding Money Basics.

I asked Brother Shikamaru for examples of emotional spending, and he said :

The best example I can think of at this moment is when a person's lifestyle exceeds their income.
My opinion, you can have a good lifestyle as well as good income so long as the former does not exceed the latter.

Another is investing out of fear rather than out of having a goal and plan.

I shared an example, and others have contributed to the thread as well, give it a read.

But i think it's a topic worthy of its own thread / discussion.

Do you recognize emotional spending in yourself and/or others?

Can you share examples ... things not easily recognized as 'emotional spending' but is?

Love You and Thanks in advance!



Destee

 

[Destee]

Below is the example / comment i gave regarding emotional spending.

I think this is very important, because i don't think i am the only one, many of us can learn from this.

We probably all do some of it, and can learn to balance it better, with guidance and direction.

Thank You Brother Shikamaru!

Please ... everyone ... share examples of emotional spending ... so we can see and learn together!

Okay Brother ... that's a big one ... living beyond one's means, is emotional and not rational.

That's deep.

But what of those that live beyond their means, and their means are just so low, way below poverty?

Is that emotional too ... or is there some other view (categorization) of money they have?

I ask the question above, considering this group of folk, no doubt due to my emotional tie to them.

I was having a conversation this weekend with a Brother, and presented some of the same to him, and he pointed out that most of us can do without a lot of what we spend our money on (even though in our hearts, minds, emotionally, we feel they are needs).

For example, i said that the Single Black Mother struggling to provide for her Family, rarely has any "extra" money, so when she does get a bit of extra, she wants her children to have a new pair of shoes, or go get them a treat, for their being so good all the other days ... and he said yeah ... but she doesn't have to buy $100.00 gym shoes for them, she can get a cheaper pair.

I had to agree ... and now talking with you ... i see how emotionally driven the choices are.

The Mother is feeling inadequate, wanting to make up to the babies, give them some of the good stuff ... but rationally ... it would be better for all, the long run, if she saved the money ... let the babies wear the same shoes if possible, a little longer. That's hard to do though, when your babies want what other children have, and you want some of that for them too, especially basic things.

I am that Single Black Mother, raised babies like this, and imagine other Mothers have felt the same.

Felt. Is that automatically an emotion, because we feel it? Bringing into question its rationale?

Okay ... i think i've just asked and answered my own questions, and posed new ones ... or sump'n ...

Hmmm ... maybe not ... you tell me ...

Thank You!



Destee

 

[Destee]

Is this country's debt ... the usa ... the result of emotional spending?

They (we) live beyond our means ... right?



Destee

 

[Shikamaru]

An example of emotional spending:

Buying tablets out of desire rather than legitimate need.
Buying into the hype.

 

[Shikamaru]

Is this country's debt ... the usa ... the result of emotional spending?

They (we) live beyond our means ... right?



Destee

Concerning the debt of nations, it is a bit different.

Most nations (including this one) throughout history go into debt on account of warfare and war expenditures.

This is also a great reason (excuse) to substitute paper notes for gold and silver specie.

The United States started out in debt because of the American Revolution.
The only time in US history the federation was completely debt free was 1834-35.
Since the Civil War we went into debt on account of war and haven't looked back.
The federation's debt at the end of the Civil War was $1 billion dollars.