Seven Ways to Just Say No
Don't be pressured into spending money unwisely
Our emotions play a large part in our decisions to spend money. Sometimes they get the better of us and we later look back and can't understand why we spent money on that new pair of shoes, that appliance model with all the features that are never used or the now discarded toy that last month a child swore they couldn't live without. Saying yes to a more secure financial future begins with learning to say no.
- It's hard to say no to your children so it is important to create ways to treat them without breaking the bank. Tell preschoolers who often beg for whatever they see in the grocery store that they may choose one item such as one snack food or one cereal. Tell older children with more expensive purchases in mind to create a wish list for special occasions such as holidays, birthdays or good report cards. By updating it before the big day they may find they have new priorities and you will pay only for what they really want.
- Countdown clocks on the shopping channels and salespeople claiming an offer is good only for a limited time make us think we must act NOW! Saving money is a matter of thinking about your long term goals. After all, the last day of a coat sale doesn't do you much good if your goal is to save for a Hawaiian vacation.
- Salespeople often make you think you have only two choices: purchase now or live without the item. That is rarely the case if you really consider the alternatives. It is likely something similar is available elsewhere and you can probably match the price if you shop around and buy it on your own timetable.
- Know the features you need before shopping for major purchases such as cars, appliances and computers. Be aware of sales tactics that show you a model with all the bells and whistles and ask you what you "don't need." Instead ask for exactly what you want and, if pressured to buy something more expensive, demand concrete information on what extra features will really do for you.
- Stores and malls are not amusement parks or entertainment venues. You should only go shopping when you need something and take a list with you to avoid impulse buying. Even Internet shopping sites today try to sell you more by suggesting other things you might like to go with your purchase. Don't let a computer screen pressure you into buying.
- A sale is a two-way negotiation. Don't be afraid to tell the seller exactly what you are looking for and how much you are willing to spend. This not only makes it clear you are in charge of the final decision but may also put an end to high pressure sales tactics.
- Companies spend billions of dollars each year on research about how consumers behave to find out how to tempt you to spend more. Create your own team of experts to fight back by enlisting family and friends. Set a spending plan and family rules such as "only one new video game every three months" and ask a friend to accompany you when shopping for big ticket items to help you resist buying before you are ready.
