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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