recently, meanwhile CNN interviewJeff Bezos advised Americans to “consider postponing purchases of big-ticket items they’ve been eyeing.”
founder of amazon Recommended “U.S. households are postponing big purchases such as new TVs, refrigerators and cars because of the risk of worsening economic conditions.”
I haven’t heard of him holding back on Amazon’s Prime Day sales or Black Friday offers, but I personally recommend adding those items to your “do not buy list.”
Personal finance experts (and apparently even retail billionaires) advise buying less. But at the same time, retailers are working overtime to push us to buy.
This year, Black Friday, Christmas sales, and holiday sales have been the most in recent memory. would be wherever We offer significant discounts. in many places, push already started.
There are several reasons for this.
- retail inventory is high.
- consumers buy in bulk durable goods during a pandemic.
- What companies want cash on hand for the looming recession.
If it is wise to delay a purchase, companies and marketers will work hard to get you to spend your money. This crescendo will culminate over the next two months.
So how do you avoid falling into their trap?
Here are seven steps that can help.
1. Recognize that consumerist promises are always short-lived.
All future ads during the holiday season promise the same thing: a better life.
They work to convince you that their latest products will make you more attractive, bring you more friends, create a more beautiful holiday season, and bring you happiness you won’t find anywhere else.
Those promises are false. look at them Fulfillment and a better life are not sold in department stores.
2. Consider the benefits of having less possessions.
Owning fewer possessions offers countless life-giving benefits. More time for those we love most, more money for meaningful pursuits, more energy for the things that matter.
Fewer possessions means less stress, more peace, and more intention.
Minimalism frees us to pursue our greatest passions, but chooses to define them.
Recognize how your life has improved by owning less to overcome the pressures of consumerism (or can improve your life). After that, I won’t buy any more.
3. Know that your money will help you through the recession more than shopping at the mall.
According to some studies, 70% of Americans live paycheck to paycheck.
Like any economic statistic, there are countless variables that contribute to it.But the fact is 62% of consumers earn between $50,000 and $100,000 Live Paycheck-to-Paycheck and 54% of consumers earning between $100,000 and $150,000 The annual raw salary should tell you that this reality is not entirely the product of low wages.
We are a culture obsessed with buying things we don’t need.
But as a recession looms and talk of downsizing increases, saving is the safest way to weather the recession. Expert We recommend saving at least 3 months of expenses for dual income households and 6 months or more for singles.
70% of you will want to start right away.
4. Set a budget for this holiday season (and stick to it).
This holiday season, it’s likely that you’ll have something to give. We do too.
However, set a vacation budget and stick to it. traditionally, 70% of us spend too much on vacation budgetsThis year is the year to stick with it.
5. Turn off marketing messages.
The more ads you see, the more likely you are to make a purchase.
So turn it off whenever possible.
For example, start unsubscribing from retail mailing lists now. It only takes about 2-3 weeks to click unsubscribe on every marketing email you receive to change your inbox (and life) forever.
Start today.
6. Don’t fall into the mindset of scarcity.
It’s easy to feel scarcity during the holiday season, especially when sales are in full swing.
“This is your chance to buy at a bargain price! I can’t pass it up.
Remember, items you didn’t need before launch are no longer needed.
7. Find someone to help you.
Inflation and recession affect many people negatively. In fact, our local food bank here in Phoenix Serving More Families in Need More today than at any point in their history.
The value of our money depends on what we use it for.
Find someone to help you overcome the pressures of consumerism this holiday season. Your financial gifts may be needed today more than ever.
Each holiday season is marked by overspending. This year, the pressure to buy will be greater than ever. Likewise, the need to overcome that pressure is more important than ever.
