Have you ever bought any products, services or programs you may never need for ever and still can’t explain why? That’s a habit that never made most people rich and in this blog post you’ll learn how to overcome consumer mentality.
It’s okay to create or inherit wealth but either of these will never make a difference if you won’t deal with the number one habit that will not make you wealthy for a lifetime no matter how hard you tried.
Both the rich and the poor were born with a consumer mentality exposing them to want more, need more, buy more, demand more. Everyone is exposed to the various advertising jingles, newspaper publications and various late night advertisements on TV, social media sales funnels on the internet that only make them to long after more.
There are very few useful advertisements that should help you create your wealth than those that will help you lose wealth. Even some of the financial gurus end up enriching their pockets with their various wealth-in-a-box programs than it does to you. Most adverts are written or shot to take a portion of wealth from you into the pocket of the advertiser.
If you don’t deal with your consumer mentality it will surely deal with you. You won’t be able to build wealth quickly. You’d be left with buying more products you’ll never need.
A consumer mindset is rather an anti-wealth habit you should deal with. No one has ever emerge millionaire buying more than they needed.
It’s also right to say that buying what you need is fine on the basis that your income can comviently take care of your expenses. It will be unwise to spend higher than you earn. You cant save enough money to buy your needs, you can only work towards consistently making enough to meet those needs.
Human needs are insatiable – this is influenced mostly by the innovations flying around. There are new designs almost every week. There are new technology launched every other week to make effectiveness and efficiency of work, life and fun easy. New ads pop up every day on the internet with the hope that you’d fall for it.
Consumer Mentality affects your thinking and your thinking affects your feeling. Once your feeling is captured then you lose wealth. If you are just starting out your wealth creation journey you must be ready and deliberate about ignoring every adverts, events, programs, shows etc that will only take some bucks away from your pocket.
How To Overcome Consumer Mentality
The solution to every problem is to do the opposite of the problem. Eg if smoking will cause you cancer (the problem) quit smoking (the solution).
1. Understand Your Buying Pattern:
If watching TV on specific days of the week or late at night has aggravated your consumption need then it’s time to switch it off. You don’t have to watch TV on those days. Also, you don’t have to fill the pop up form to access a website information. You will not need to tune in to your favorite radio to understand what the situation is in the country. Whatever media is the source of your increasing buying power switch it off.
Most adverts are targeted towards your emotion. Advertisers knew that if it doesn’t appeal to your emotions you can’t make purchase. The more you’re glued to your screens the easier you begin to feel the need for such product.
2. Flip pages of the newspaper than you read the lines:
Apart from the fact that you’d end up saving enough time to do so many other relevant things, you’d have read more books or newspapers in short time when you can only flip pages of the newspapers instead of reading in-between the lines from the front page to the last page.
Just like I mentioned earlier, every adverts,publications, etc out there have one thing to achieve and it is to squeeze money out of your pocket. It’s not as if you won’t have to make buying decisions again but you won’t have to be doing it on impulse.
3. Buy needed items only when you need them;
There are so many item you may never need for the next six months and there are some you could have alternative for the same six month. If you don’t know the difference between the two you’d think you have to buy it now so you don’t have to buy in another six month.
Almost everyone wants something especially when those things could be replaced with the most expensive of all. If you drive a Lexus 350 now, the chances that you may want to drive Lexus 570 supersports is high. That’s better right? I got you! It’s a more sophisticated car to drive. Something is always better. There is always something new. What you have not bought is the newest. Once you purchased it, it becomes used.
4. Draw a budget and stay committed to it:
Budgeting your income before it arrival will save you a lot of bucks and could reduce your level of impulse buying drastically. Likewise, budgeting your income isn’t financial slavery but financial literacy you or anyone around must exercise.
Budgeting is simply to decide which money will go for what. It is keeping tabs of the real things you’ll need before the resources to get it show up. You won’t effectively manage your personal finance if you have to be waiting for the money to plan instead of planning then wait.
5. Avoid impulse buying at all cost:
If you haven’t drawn out a budget on how to spend your money, you may still be a victim of impulse buying. Accidentally purchasing the things you see or compelled to buy won’t help you make financial progress. If what you have seen can’t wait then it doesn’t deserve your money.
There may be emergencies which doesn’t even come every time. If it’s not emergency you should keep your money away from it. Even emergencies could be handled ahead of it arrival. Therefore, impulse buying can be much more minimized. Be disciplined enough that no matter what is brought to your nose to smell you will never take a bite.
6. Compare Down:
Comparing one with another is not wisdom. It reduces your level of security, self esteem and confidence in yourself. Always remember that every man is unique in their ways. You’re different. No man was raised the same way.
Most times you compare you also find yourself competing. There’s no point competing with anyone over the things they’ve acquired. What you don’t have now will only cost you some bucks to get and if the money isn’t available then it will cost you time to get it. Stop comparing yourself with people who have probably spent time to get what you envy in them.Y
You May Also Read:
- 4 Major Ways To Make More Money
- How To Take Calculated Risks That Could Make You Money Repeatedly.
- Gratitude: The Secret Attitude of Wealthy People
7. Be more grateful for the things you have:
Gratitude can help you overcome unnecessary thoughts over many issues. You can be thankful enough for the things you have, that even the things you don’t have will not bother you. You have enough more than what some people have. Not developing a grateful heart will still make you think you don’t have at all or what you have is not enough.
I talked more on this habit of being grateful in this post titled Gratitude: the secret habit of wealthy people.Gratitude: the secret habit of wealthy people.
Gratitude is an attitude wealthy people don’t take lightly. It is what has made many of them overcome attempting suicide. Wealthy people know that staying positive will do more good than harm. So also is gratitude helpful in overcoming consumer mentality. No entitlement spirit will enslave you when you’re grateful.
What you don’t have, you don’t deserve and what you deserve you mustn’t get it without planning for it. With this you’d overcome consumer mentality that has made most people poor.