123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Debt >> View Article

The Importance Of Resisting The Urge To Splurge

Profile Picture
By Author: Bestdebt Care
Total Articles: 207
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The recent financial crisis that America faced was not only the result of federal financial drawbacks but also a result of combined failure of American’s personal financial management. However, debt management plans and debt settlement companies have stretched their services and support to pull us out of this situation but the roots of the troubles lie elsewhere, within us and in our nature and despondency towards money and how we treat finances. To put it simply it is time we realize the importance of resisting the urge to splurge before we confront the greatest financial disasters. Today, because of easier access to credit at a younger age than ever before, young adults are able to completely equip their home with all that their hearts desire. Credit allows for instant gratification instead of the waiting period required to save for the outright purchase. Our parents lived in a time period when they bought just what they needed practically and had never even spared a thought for things which tempted customers but were seldom more useful than the regular stuffs. ...
... Probably that is why they could accumulate and build the wealth that we inherited so easily and are enjoying g without a second thought.

Our generation is mostly guided by impulses and desperations which are never determined by rationality or sensible spending habits. As a result we end up purchasing or splurging our money on things at their face value which hardly prove to be of any real and conventional use. Many times we just buy stuffs without any intention but with just a temporary instinct and this happens generally when our expectations broadened and the value of money gets narrowed down to a mere plastic card which we call a credit card. Apart from that we feel it embarrassing to turn down a salesperson who advertised the product or services to us, feeling that this will make us look financially incapable to him/her. Such mentalities and attitudes are also encouraged by our continuous quest to match up and keep pace with our counterparts in offices, society, neighbors and friend circles and we keep splurging money to keep up with the joneses. In all these complications and self-invited competitions we forget that it is our own money which we are destroying and putting into jeopardy as we have a tendency to console our own selves with the ongoing and next month’s paycheck which would seemingly replenish our bank accounts once again but that seldom happens because we are yet to control our urge to splurge.

In our fast-paced world, you may feel that your parents' practice of saving for a purchase has become old-fashioned. The culture now says, "You want it, you got it!" But before you reject your parents' philosophy as hopelessly outdated, consider the benefit of paying cash for a purchase rather than simply charging it. Resist the urge to splurge! Take the time to save for a purchase instead of financing it, and you will dramatically reduce the cost. Buying with cash involves patience, but the price of patience is well worth the wait.

Aronddevit is an investment advisor providing an array of ideas about the investment strategies. She has an expertise in writing about the best debt management programs, credit card and debt management services.

Total Views: 278Word Count: 547See All articles From Author

Add Comment

Debt Articles

1. Active Packaging Market Projected To Reach $35.7 Billion By 2032
Author: Rutuja kadam

2. Trusted Lawyers On The Sunshine Coast: Expert Legal Support When You Need It
Author: buckleyhawkins

3. Debt Collection Services In India
Author: DEALZ MT

4. How Contractors Can Secure Funding Despite A Bad Credit Score
Author: Bad Credit Business Loans

5. Exploring The Intricacies Of Cross-collateralized Loan Structures For Businesses
Author: Risa Beand

6. How To Choose The Best Elementary School For Your Child In Canada
Author: USCA Academy

7. Why Personal Loans Are The Best Option For Vacation Financing
Author: Brajendra Kumar

8. How To Improve Your Home Loan Eligibility Calculation
Author: Maya

9. How Personal Loans Can Help In Debt Consolidation And Financial Planning
Author: Brajendra Kumar

10. Repayment Options And Plans
Author: Brajendra Kumar

11. Navigating Bad Credit Car Loans In Ottawa: A Comprehensive Guide
Author: Anna Emma

12. Understanding Personal Loan Interest Rates
Author: Brajendra Kumar

13. Dynamics 365 Business Central Online Training | D365 Business Central
Author: Susheelvisualpath

14. Why You Should Review Your Home Loan Periodically?
Author: Tarun Diwedi

15. How Personal Loans Can Help You In Financial Emergencies
Author: Brajendra Kumar

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: