entitlement http://www.wisebread.com/taxonomy/term/10117/all en-US Do You Feel Entitled To Money? http://www.wisebread.com/do-you-feel-entitled-to-money <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/do-you-feel-entitled-to-money" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/5437289239_2ab4796ac7_z.jpg" alt="money covering eyes" title="money covering eyes" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>One of the biggest obstacles for those who are trying to save money and pay off their debt is their notion that they are entitled to money. They look at celebrities or their neighbors and want what they have. They feel like it's not right for them to be <em>left out</em> of that happiness (because, in this consumer driven world, we often equate happiness with our ability to spend, and who isn't entitled to pursue happiness?). (See also: <a href="http://www.wisebread.com/6-ways-money-really-can-buy-happiness" title="6 Ways Money Really Can Buy Happiness">6 Ways Money Really Can Buy Happiness</a>)</p> <h3>&quot;It's Not Fair&quot;</h3> <p>There's a feeling of &quot;it's not fair&quot; when someone else has more money. Why do <em>they</em> deserve to enjoy those things? So the race is on, for bigger, newer, and shinier things, all charged on credit. If pro-athletes, celebrities, and lotto winners can end up bankrupt because of overspending, what are the chances for us regular non-millionaires?</p> <h3>Entitlement Quiz</h3> <p>If you aren't able to accept your current situation (your income), you will never be ready to live in a financially responsible way. Here's a quick self-quiz:</p> <ul> <li>Do you buy things because someone you know just bought one or talked about getting one?</li> <li>Do you buy things because you saw a photo of a celebrity with one?</li> <li>Do you justify buying something you can't afford because you feel you deserve it?</li> <li>Do you compare the things you have with things other people have, and feel superior if yours is better and inferior if yours is not?</li> <li>Do you always pick the latest model or the more expensive one not because of the features but because of the price?</li> <li>Do you feel like you're missing out if you don't own something someone else has?</li> <li>Do you think it's okay to spend on credit right now because you know you will make more money later?</li> </ul> <p>10 years ago I would have answered yes to at least 4 of these questions. But any yes to these questions means you feel entitled to money, and as long as you feel that way, living within your means is out of your reach, no matter how many coupons you clip or brown bags you bring to work.</p> <h3>Accept What You Have</h3> <p>What can you do to shift this mindset? Accept that you have the money that you have. Accept that there are things <em>you just can't afford</em>. Believe that there are things that you <em>can</em> afford that will satisfy you. Believe that it is more important for you to not be in debt and save money, than it is to have something.</p> <h3>3 Ways to Start</h3> <p>This type of emotional spending (seeing something you really, really want or seeing someone else with a new toy) is what <a href="http://www.wisebread.com/a-guaranteed-way-to-avoid-impulse-credit-card-purchases" title="A Guaranteed Way to Avoid Impulse Credit Card Purchases">impulse buys</a> are all about. The most effective way to curb impulse spending is to give an opportunity for time to equalize the emotions.</p> <p><strong>If you really want it, save up for it.</strong> You <em>can</em> have anything you want &mdash; you just have to save up for it. You don't have to deny yourself anything. The question is, is that <em>thing</em> you want really worth that time and effort? When you actually have to save up for something, it will give you time to contemplate how desirable it really is.&nbsp;</p> <p><strong>Borrow it.</strong> Borrowing does two things. First it allows you to really know how much utility it's going to give you. Second it gives you the same &quot;high&quot; as if you had bought it for yourself because you have something different. How you feel when you return it will give you a good idea of whether it is something that will truly give you value.</p> <p><strong>Commit to a waiting period.</strong> Again, it's all about giving yourself some time to get over the initial &quot;ooh ooh I want that&quot; feeling. Give yourself a 3 month waiting period for any purchase. If in 3 months you still want it, you can buy it (if you can pay cash for it of course!).</p> <p><strong>Where do you stand?</strong> Did you take the quiz? Are there other ways to get over the feeling of entitlement to money?</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/lynn-truong">Lynn Truong</a> of <a href="http://www.wisebread.com/do-you-feel-entitled-to-money">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-ways-millennials-are-changing-marriage">4 Ways Millennials Are Changing Marriage</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-alternative-housing-options-you-can-afford">5 Alternative Housing Options You Can Afford</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-surprising-ways-summer-will-cost-you">7 Surprising Ways Summer Will Cost You</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-143-fun-and-frugal-ways-to-spend-your-weekend">Flashback Friday: 143 Fun and Frugal Ways to Spend Your Weekend</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/could-you-save-money-by-subscribing-to-an-addictive-game">Could you save money by subscribing to an addictive game?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle entitlement Mon, 07 Nov 2011 10:36:13 +0000 Lynn Truong 776400 at http://www.wisebread.com The Bank Christmas Tree http://www.wisebread.com/the-bank-christmas-tree <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-bank-christmas-tree" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/gift_1.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="168" /></a> </div> </div> </div> <p>I try oh how I try to not walk through the day *looking* for metaphors to come smacking me in the face, but sometimes no matter how much I don&rsquo;t want to be thinking in those terms, they come raining down.</p> <p>In the bank this morning, I was waiting in line. Tiny bank. Tiny town. We all know each other. I look over at the tree which has paper ornaments from the &lsquo;needy&rsquo; children in town and their ages and what they want for Christmas. My husband and I were both planning on buying something for a girl and boy our own children&rsquo;s ages.</p> <p>But while we were able to buy our kids what they asked for (a couple of Autobot Transformers and a sterling silver locket and a Sailor Moon) we would never be able to afford the tree of the needy. What did the needy kids in our town want the town Santa bank customers to buy? </p> <p>From ages 4-17 they seemed to want iPods, and Wii and Xbox. There was literally not a single kids&rsquo; wish list that we could fulfill with something like a couple of Transformers and a piece of jewelry and a doll. And I had time to look at the whole tree in that bank line.</p> <p>Where are kids ---not just needy kids---getting the idea that it&rsquo;s appropriate for 4 year olds to have iPods? I&rsquo;m sure the 17 year olds filling out the &lsquo;needy&rsquo; cards have more awareness that a neighbor and not Santa will probably be flipping the bill. Do the 17 year olds think that gifts need to start over $100 to be a good gift?&nbsp; Did the parents put them up to this? Is this happening in your town? I know it's difficult to instruct other people's children on graciousness but wasn't there someone somewhere that could head this off at the pass?&nbsp;I've been talking to others today about this. Apparently the entitled need for expensive items is quite common on these types of Christmas toy drive programs.</p> <p>The&nbsp; bank teller, when I got to the window, said she&rsquo;s hearing it from both sides. The parents of the needy kids saying to ask big. The possible donors all flabbergasted at the nerve. And what does it say about both sides that we have these reactions? Do we have assumptions of how those in need are supposed to act? Do we also have assumptions of how those with cash should act?</p> <p>I left the bank without taking 2 of the paper ornaments to buy gifts. I apparently, don&rsquo;t have enough money or patience to fill the Christmas wish of two needy kids in my small town of 2000 people. Another friend said to just buy what I would have bought my own kids and donate that instead. But somehow it&rsquo;s touched too much of a nerve with me now. I just can&rsquo;t do it. Given that this is a 'tight' Christmas for most of us how could the organizers of this think that any potential gift giver might not have this reaction? It's just not sitting well. I feel bad for the kids and I want to slap the parents.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/maggie-wells">Maggie Wells</a> of <a href="http://www.wisebread.com/the-bank-christmas-tree">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/this-is-how-americans-spent-their-money-in-the-1950s">This Is How Americans Spent Their Money in the 1950s</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-simple-holiday-budget-anyone-can-follow">The Simple Holiday Budget Anyone Can Follow</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/debit-or-credit-which-one-should-you-choose-at-the-checkout">Debit Or Credit? Which One Should You Choose At The Checkout?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-simple-ways-to-stop-impulse-buying">9 Simple Ways to Stop Impulse Buying</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-things-americans-spend-too-much-on">5 Things Americans Spend Too Much On</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Shopping christmas wish lists entitlement spending habits Mon, 08 Dec 2008 23:26:39 +0000 Maggie Wells 2634 at http://www.wisebread.com