Why advertising is killing your ability to save money

Posted By: Matt in Budget on 09/29/2015 at 12:13:45

How many times have you been privy to a sleek, slick commercial, stellar online ad or a pop up that keeps popping up in your head·

The result of that sort of advertising can lead to having the product you want, but also a sizable expense, credit card bill or however you want to convey the idea that you spent money that you either don't have or could be better suited for a bill or perhaps in that savings account you're always talking about, yet don't do much with consistently.

So how exactly do the advertisers do it· How do they convince you to spend money, even if you don't have it. A smart, savvy commercial or slick marketing campaign can do wonders for said company as far as generating revenue that makes them rich and you, well, not so much.

One aspect of marketing that is working against you is the idea that products aren't negotiable as far as needing them. These wonderfully bright sales people of sorts know how to make you believe that you can't live without a particular car, the perfect wardrobe or just giving you that feeling that you're in the midst of watching or listening to an add that is nearly perfect.

Another common prevailing theme of spending money when you least expect it or just because something looks so good is the idea that you'll be left out if you don't act now or that others in the neighborhood or office are enjoying this very product or service and you're not, which means you're on the outside looking in. You'd be shocked to know just badly the average consumers correlates acceptance with being able to have the newest smart phone, a car that is relatively new as well or the barbecue grill that has WiFi. What's good for the rest of the world should be something you should have as well, right·

Well, not if that means spending money just for the sake of doing so.

Those who understand the purpose of developing a budget, having a savings account or planning for the future in the form of retirement realize that they can't always have the latest and greatest. They understand that their Samsung phone, version 4, might have to last a few more years before they upgrade to a 6 or, by that time, a 7. They're perfectly fine with not having a car payment and focusing on having a debt to income ratio that is more favorable if they decide to borrow money to put back into the house next summer with a new roof, thus securing a better rate.

Simply put, those in the financial know ignore the glitz and glamor of the frivolous and focus on need over everything else.

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