Posts Tagged: Spending

Six spending personalities that can wreak havoc on your finances

Chosen best of the web by Globe and Mail personal finance columnist Rob Carrick Overspending is a common problem for many people; it creates debt, anxiety and relationship problems, even among high income earners. All too often, people’s spending habits seem to rise to meet – and exceed – their incomes. So why does this happen? What compels people to...

Why you should pay full retail

Retail marketing scientists have mastered the art of seduction. They make a living by influencing your purchasing decisions and, on occasion, roping you into buying something you really don’t need. They have a myriad of analytics at their disposal, and they’re not shy about using them to tempt you into abandoning all rational behaviour and making impulse purchase decisions –...

Simplify, simplify, simplify

It’s pretty common to think that having more will make us happy. In reality, though, the more we have, the more complicated our lives get. We are hardwired to think about the upside when we buy things. We think about how great it will be to take our new boat out on the lake, or spend summers at the cottage...

Getting rich on small potatoes

Watch your pennies.  It’s not terribly difficult to do, and the pennies, the little things, are usually what add up to big savings over time. I was speaking with a client recently who was introduced to the concept of tracking his daily expenditures. This task of “watching the pennies,” really had him questioning things. “What’s the big deal?” he asked...

Needs and Wants: The Difference

For some people, it can be incredibly difficult to discern the difference between what they want and what they need. Here is just one practical example: Let’s say someone goes to a mall to replace a broken dish. Walking through the mall, they see a shirt in the window that would go perfectly with one of their outfits. (People generally...

Savers versus Spenders: A Matter of Perspective

Why are some of us natural savers, while others are spenders? In a way, it’s a matter of perspective. The main difference is that savers take in the big picture, while spenders only see things as they are, or as they appear to be at that moment in time. We say savers tend to have an Encompassing Perception, where spenders...

Adult Children and Money: Not Too Old to Learn New Tricks

It feels rewarding to help your children. When your adult children ask for help, they can, no doubt, be difficult to refuse. It might seem natural that you would or should help them reach certain financial goals, but when they approach you for money, you need to be careful. Obviously, every child and every situation is different: When your normally...

This Thing Called Normal

I was told recently about a successful lawyer who wanted to write a book called Broke on Any Budget. He selected this title because, he was broke as a law student; broke as a junior lawyer, and even after he made partner in his law firm, he was still broke. As our careers advance, so does our income. Sadly, we...

Blame Someone Else Day

According to Yahoo News, the first Friday the 13th of each year is officially “Blame Someone Else Day.” First started by Anne Moeller of Clio, Michigan in 1982, it’s said that Anne’s alarm clock did not go off, and she overslept. As a result, she was late for appointments all day long and spent the day spreading blame and making...

The “Shopaholic” Spouse

Money may not be the root of all evil, but overspending can cause a whole lot of disagreement in a marriage. It’s assumed and fair to say that the less money a couple makes, the more arguments there are likely to be. If there is shopaholic in the relationship though, even top earning couples will fight about money.