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MissouriFamilies.org - Money Matters - Consumer Action

 

Finance Quick Answers

 

 

Is it true that people have different spending styles?


Abigail VanBuren said, "If we could sell our experiences for what they cost us, we’d be millionaires."
 

All of us make money mistakes – the trick is not to overdo it! Do any of these spending personalities describe you?
 

An impulsive buyer seldom comparison-shops. Tip: Leave the store. Nine times out of ten, you won’t return for the item.
 

A fanatical shopper spends excessive energy to save a few dollars. Remember time is money – don’t spend $50 of time to save $5.
 

Perhaps you are an avoidance shopper, one who shops to escape. Instead try exercising or playing with your kids.
 

A passive buyer dislikes shopping and doesn’t comparison shop. You work hard for your money. Question salespeople about your potential purchases.
 

An esteem buyer buys to gain peers’ approval. Tip: Gain your own esteem by conquering spending mistakes.
 

Do you spend excessively on a habit, hobby or collection? Identify the underlying causes for being an overdone buyer. Perhaps you are bored. Ask a friend or professional for help.
 

A hot potato buyer delays making decisions, then reacts impulsively. Tip: Take time to educate yourself before making important financial decisions.
 

 

Source: Adapted from Spend yourself rich! by Grady Cash

 

 

Written by:
Sandra McKinnon, Consumer & Family Economics Specialist, University of Missouri Extension

Cynthia E. Crawford, Ph.D., Consumer & Family Economics Specialist, University of Missouri Extension

 

 

 

 

 

 

 

 

 

 

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Last update: Tuesday, July 15, 2008

 

 

 


 
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