Personal Development, Finance and Investing For Filipinos
An investment in knowledge always pays the best interest. Financial Education is your best investment.
Are we buying too much? Why do we buy?
As consumers, we are subjected to a relentless barrage of marketing. What is the goal of marketers? To turn wants into needs. Marketers know that consumer behavior is driven largely by emotion. So advertisements and the shopping experience itself are designed for maximum emotional appeal.
Ask "Why" Before You Buy!
Do you enjoy the excitement of shopping and finding a bargain? If so, you may tend to purchase on impulse. To resist, slow down and think realistically about the long-term consequences of buying, owning, and maintaining what you are planning to buy. Stop and remember past impulse purchases that you later regretted. Give yourself a "cooldown" period before making your final decision.
It's important to know the difference between needs and wants. Needs are items or services that you must have in order to live. Wants are items or services that you would like to have but can live without if necessary. To help you figure it out, ask yourself these questions before you buy something.
Be Wiser When It comes To Money!
It is easier to spend excessively if you are not sure about your financial status. Keep up-to-date records, and know your total financial situation. Create a realistic monthly spending plan based on your income and past experiences. Track your spending, and compare it with your plan. Ask a trusted friend for help in understanding financial matters that are unfamiliar to you.
Always Think Before You Spend!
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.