Buyers Remorse

As I previously mentioned, I take a therapeutic approach to personal consultations and finances.

I received a phone call from a client today. Yes, I am easily accessible. It seems she is having buyer's remorse after the 'holiday'. You know the day that represents the mutual love and admiration you have for one another.

Instead of buying a box of chocolates and a card she purchased her lover a Movado. This high end Movado set her back roughly $5000.00. Let me give you a little insight about my client. She engages in emotional spending. Why? We all do it rather we are aware of it or not.

I want to see the surprise on his face

A gift is from the heart not from your pocket book. What about the surprise on your face when you open the credit card bill the following month with the infamous APR attached? What's love got to do with it? Love is great, but it can't pay the bills.

Emotional spending is hazardous to your health

Yes, this kind of behavior can overwhelm even the savviest buyer. I recommend you are true to your significant other and yourself. Come to reality. In today's market $5000 won't take you far due to inflation. If she would have called me before buying the article I would have imitated Suze Orman. Denied!!!!!

Consider yourself before others

This can sound selfish. However, it isn't once put into context. You can't do yourself justice financially if you are constantly displaying monetary acts of affection and digging yourself deeper in a financial bind. Ask questions:

• Can I honestly afford this item?
• Will this amount help to reach my financial goal?
• Is my emergency fund fully funded?
• Can I comfortably retire tomorrow?

If you answered no to any of these questions you will have buyer's remorse.

Be inspired,
Bahiyah Shabazz