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

[Enki]

After I have paid all the bills,made sure the wife and kids have clothes and shoes, I feel I OWE myself a PC game or a new tool. So the emotion for me is a since of entitlement. I've earned it, and I should not deny myself of it. This is the self talk I do while making my decision.

Peace!

 

[Gorilla]

I'm not quite sure I follow what emotional spending is precisely. If it's not living beyond your means, that just seems like pretty sound practical advice. Is it looking for emotional triggers that cause people to spend more than they intend to? If so, there's a couple of good books and presentations out there by behavioral scientists / inter-disciplinarians. Two of my old favorites are: Barry Schwartz (Paradox of Choice) and Dan Ariely (a behavioral economist).

My example:

People who purchase warranties that cost more than the item they want to protect is worth. I noticed this recently when picking up another usb flash stick a while back. The device doesn't have a failure rate that's particularly high and the warranty would expire long before anything wear-n-tear wise would happen. It also didn't cover accidental damage and cost just a few dollars less than the device. By the time I would need to replace it, my device would be worth significantly less for the same amount of storage. The price I paid then would provide more storage for a better device and I couldn't use the warranty to get a newer model if it happened. I guess they were trying to play on some kind of security/comfort need?

 

[MsInterpret]

I tend to become an emotional spender on clothes and going out when something traumatic has happened....I start splurging on things that I do not need....

 

[Shikamaru]

My example:

People who purchase warranties that cost more than the item they want to protect is worth. I noticed this recently when picking up another usb flash stick a while back. The device doesn't have a failure rate that's particularly high and the warranty would expire long before anything wear-n-tear wise would happen. It also didn't cover accidental damage and cost just a few dollars less than the device. By the time I would need to replace it, my device would be worth significantly less for the same amount of storage. The price I paid then would provide more storage for a better device and I couldn't use the warranty to get a newer model if it happened. I guess they were trying to play on some kind of security/comfort need?

You sell on emotion. Lock in the sell on logic.

 

[Lokman]

so wht abt during the clinton era....i recall hearing clinton got the US out of debt

For the Record. Talk (past and present) that the Clinton Administration Got the U.S. Out Of Debt—Lowered the Nation's Debt and/or “Balanced The Budget” is a Tall Tale of Financial Science Fiction.

When in fact, this Best Selling Fable was written, produced, and directed by the White House.

It starred All the President's Men—that Criminal Enterprise on Capitol Hill (aka Your U.S. House Of Representatives), and those masters of mendacity some call: The Main Stream Media.

This Has Been A Public Service Announcement...

Peace to One & All,

Lokman