Wednesday, June 10, 2015

I'm too sexy for my....

Shirt? Car? Many people know this song by the band "Right Said Fred,".

 Many people find a lot of products "sexy" and get carried away by the prospect of having
all of these items. The problem with today’s consumer is that people
get carried away by unnecessary purchases and cannot differentiate
between their "wants" and their "needs." I know you THINK you need
that $8 latte and muffin from Starbucks in the morning, but you really
don't. And you especially don't need the almost $2,000 per year this will
cost you if you decide to satisfy those urges every morning.

In this week's article, I am going to talk about some common misconceptions people
have and address how to make adjustments, so that you can enjoy life without
feeling like you are depriving yourself.

How many times have you walked through a trendy neighbourhood looking
at some of the beautiful houses and become envious, because you
wished you owned a home like that? Did it bother you a little
more to see the BMW X5 that was sitting in the driveway? This may
surprise you, but I would curb my enthusiasm and be thankful that I am
not the owner of that lovely home and car. 

Why, you ask? Because those individuals don't own either one. If you are confused, let me clarify. This person's home - worth $600,000 - has a $500,000 ($2000/month)
mortgage on it and as for that beautiful car, it has an $850 a month
lease this person can barely afford.

Things are often not what they seem and the truth is that you experience a
better quality of life by staying within your means. These people are
keeping up with the Jones's, but eventually their image will catch up
with them and get tarnished. Since interest rates move so slowly and credit
is readily available, people need to understand that they should buy
the smaller house and the more reasonably priced car while living a lifestyle
more suited to them. It may not be "sexy" on the outside, but nothing
is "unsexier" than a car repossession and/or bankruptcy.

As I mentioned earlier, it is important to feel like you are living life
without feeling that you are depriving yourself. Cut Starbucks down
from five days a week to two days...see movies on Tuesday/Wednesday or in
the afternoon when they are cheaper...buy frozen meals for a few dollars
or prepare your lunches at home instead of spending $14 a day at a
restaurant. That way, when it comes to birthday gifts, sexy holiday
lingerie or that special celebratory dinner at your favourite gourmet restaurant,
you won't feel so bad sinning a little with your partner later.