Why Do People Get the Urge to Splurge Despite Being in Financial Trouble?
Scrimping and saving can get you so far in today’s economically-challenged times, why is it even frugal people find themselves losing control and snapping up buys all of a sudden?
The obvious reason is that Christmas is fast approaching us. It gives everyone a (semi) legitimate reason to cut back on the saving and just take our minds off all that budgeting for a minute or two. The generous credit card offers help lubricate our wallets as well.
The less obvious reason is that too much self-denial has a tendency to explode in a frenzy of spending.
Think about it this way: when you shake a soda bottle hard enough, even the sealed top will have to give way. This is what happens to some folks who tend to go overboard with their saving. All it takes is one solid excuse to loosen the budget strings and bam – you’ve charged a cool hundred or so out on your card.
I’m not saying budgeting is bad, but I am saying that we all need to budget right. Include luxury items in the budget, and that means allotting a set amount of money for holiday spending.
Simple, yes, but it works.