Do You Have an Overspending Personality?
Are you pre-disposed to being an over-spender? Learn how to recognize your weakness and outsmart your overspending personality.
We love the idea of spending personalities, when we wrote the Smart Cookie’s Guide to Couples and Money we developed our own quiz to identify our spending personalities.
Time Magazine recently covered personality types that they say make us “bound to buy”. We thought we would share a few of the personalities that we can certainly relate to, and add some Smart Cookie strategy on how to out Smart your disposition to overspend.
The Knee-Jerk Outsourcer:
This anti-DIYer believes that her time is absolutely invaluable, and can’t be bothered with tasks deemed even marginally difficult or complicated, no matter what the cost.
Likely purchases: landscaping (a.k.a. somebody to cut your lawn), pre-sliced vegetables, Geek Squad assistance, “baby concierge” services.
Smart Cookie Strategy: Your time is valuable, and sometimes it is worth it to opt to pay for a service instead of doing it ( or trying to do it) on your own. Calculate what your time worth to determine if it makes financial sense to outsource.
The Hapless Negotiator
The haggling techniques of this squeamish, extremely non-confrontational individual consist of two phrases: “How much?” and “I’ll take it.” Known to perspire heavily in the presence of car salesmen, antique store clerks, and crotchedy old ladies at yard sales.
Likely purchases: inflated auto insurance, inflated cable/Internet/phone plans, car at anything close to sticker price
Smart Cookie Strategy:
Get comfortable being uncomfortable and get haggling. It’s your money! Keep in mind that it’s easier to haggle if you feel like you have something to offer the individual you are haggling with.
The Impulse Buyer (and Frequent Regretter)
Delayed gratification? By the time this consumer manages to say the phrase—which does have a lot of syllables, come to think of it—she has excitedly scooped up a handful of “must-have” trifles that caught her eye.
Likely purchases: shoes, purses, gag gifts, infomercial products (as gag gifts or otherwise), anything in a store window or near a checkout line.
Smart Cookie Strategy:
Been there done, that. Fill out your Smart Cookie Rather Factor Card and call your in-case of emergency #. No impulse purchasing allowed unless you get the OK, OK?
