Psychology of spending: to save or to spend?

[klassicdoll]

I think most of us realize that personal finance is much more than just income and expenses. Emotions, ideals, and aspirations all have an impact on our purchasing habits. Spending money, as opposed to saving it, gives one an immediate sense of satisfaction and control; this is known as the "psychology of spending." To please other people, to fill gaps in our lives, or for other reasons, we could spend money. We become trapped in our pursuit of happiness and social status maximization. On the other hand, optimizing our financial reserves does not yield instant emotional satisfaction either. Even though we may be aware of the emotional complexity of spending, many of us find it more challenging to exercise self-control over it.

 

[King Belieal]

Even social factors tend to influence our spending. The kinds of people we roll with and interact with would influence how we spend because we can't be the odd one out. That's why you need to choose your association properly because it can affect your financial behaviour.

 

[Starmix]

It's true that the control of spending is within us, so for us to save, let us understand the importance of saving versus spending. That's one factor that leads us to financial freedom keeping the money for future need when we finally decide to invest.

 

[Fidelia]

Self control when it comes to spending money is something that we have to fight our human nature to achieve. We were wired to always keep spending money and we have to counter our configuration to have self control over that.

 

[AruneBend]

Well overspending is a habit that is hard to control but possible if you really want to save more money

 

[neku]

I have notice that people who are frugal and do not spend much money, are often falsely labelled a security threat without proof so that government agencies rob their savings without a court order. So in some countries it is better to spend money.

 

[eLdavis]

One way most of us spend is that we are easily influenced by does around us. Most times it's not like we want to be influenced but without knowing we tend to spend to have what the next person has or to live a more comfortable life than the next person.

 

[SHAHID987]

Some spending are crucial, one can't avoid. And after meeting with these necessities we get room to save some money.

 

[freelancermaria]

Some people find it far simpler to overspend than to save, especially when surrounded by temptations. It is difficult to control at times, but if we are determined to save money, we can possibly avoid it.

 

[King Belieal]

Some people find it far simpler to overspend than to save, especially when surrounded by temptations. It is difficult to control at times, but if we are determined to save money, we can possibly avoid it.

It is natural to spend money. It is very easy to swipe your card and get an item into your bag. It is just fun. It now takes self discipline for one to stay without having to spend and prioritize savings b

 

[deucher]

This is an internal struggle between yourselves and you must choose a side. In the beginning it is difficult, but with time it will simply become a habit and then a discipline. Because I think everyone understands that saving money is much better than spending it

 

[Kross]

Anyone that has money always wants to spend. When you see someone that doesn't spend money, he or she is going through financial struggles. But you can spend at a reasonable and sensible level remembering that there is always a tomorrow.

 

[Augusta]

i was t to always want to spend and that's the only way I can live above brikeness6. it is good to spend but better to save.