Wednesday, December 13th, 2017

Impulse Buying and Financial Freedom

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Take 24 Hours to Decide

Take 24 Hours to Decide

“There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.”
Proverbs 21:20

“There are precious treasures and oil in the dwelling of the wise, but a self-confident and foolish man swallows it up and wastes it.”
Proverbs 21:20, AMP

There are precious treasures in the wise man’s house.  The foolish man spent and wasted all of his treasures.  Both of these men had treasures.  They may have even earned the exact same amount of money.  One saved their treasures.  The other one swallowed up their treasures.  They wasted all of their money.

Have you ever met a person that can’t hold onto a dollar?  It just burns a hole in their pocket until they spend it.  If they get a bonus on the job, it is probably already spent in their minds before they even get the check home.  That’s how I used to be.  I couldn’t hold onto money.  The moment I got it I had to spend it.  Even before I got it I had to spend it on credit cards.  I had no restraint.  Whatever I wanted, I wanted it now.

That’s the whole goal of advertising.  Copywriters are taught that if they don’t cause you to make the purchase now, they will never get the sale.  They try to convince you how bad your life will be if you don’t have their product.  They manipulate you into making a buying decision quickly.  There is a jewelry store near where I lived who had at least 5 different going out of business bankruptcy sales over a period of several years (there are “bankruptcy” specialists who come into stores and hold bankruptcy sales by marking all the prices way up so they can discount them back down to around regular price again).

All marketing and advertising focuses on your emotions.  They talk about how you’ll “feel” with this great new improved product.  They are out to get you to make an emotional decision immediately.  They don’t want you to take time to think about it or discuss it.  They scream, “Buy now,” because they know you’ll have somebody else yelling at you to buy 5 minutes later. There are all kinds of sales tactics people use to make you buy now.

For example, have you ever went to a car lot and heard a salesman say, “If we can make you a good deal, would you buy today?”  If they can get you to say yes to that, they know they are already on the road to closing a sale with you.

If you’re going to become wealthy God’s way, you’re going to learn how to overcome these buying emotions.  For me, I had to institute a 24 hour period to overcome them.  I made a rule that we never bought anything without a 24 hour period to think about it first.  We couldn’t buy anything without it.  That means you have a shopping list when you go to the store and you follow it.  That means you don’t buy a shirt because you just have to have it.  That means you don’t buy a car because the salesman made you an offer you couldn’t refuse.

We’ve relaxed the rule on small items now that we have money, but I still follow it very strictly on most purchases.  My wife and I also spend time discussing the majority of things we purchase.

There are precious treasures in the house of the wise, but the foolish man spends it all.  When God led us in wisdom and our income started increasing, we still didn’t have anything left over for a while.  We spent everything extra we were earning.  Our income more than tripled, but we still didn’t have any money.  We were spending it all up.  We thought the increase in money meant we could just spend more when we went shopping.  That was very foolish.

About Terry Dean

I’ve been in full-time business online since 1996. I’ve been an ordained minister since 1993. Yes, business and ministry are my passions. I also love God, my wife Julie, my two dogs, the outdoors, and video games.

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