I have a relative who admitted that when she is depressed or stressed, she makes it a priority to shop. This shopping trip is not to pick up an item or two on a short list of needs required by her wardrobe. It is a full blast budget breaking income wreaking disaster!
She indicates she feels much better while shopping. However once she returns to her stress-free self…... well let’s just say her net worth took a hit and she may need to return merchandise.
I notice this frequently with individuals who may have been told they have acquired expensive taste. You know who you are! Vehicles that retail for the same as revenue generating income
property. Shoes that cost as much as a monthly mortgage payment.
Not to mention a clothing allowance which, if invested properly, could make you a millionaire in record time.
The feel good shopping trip or retail therapy is deadly to your financial future. If we were to take a snap shot of your yearly spending to improve how you “feel” when things get rough,
let’s just say you may need more than an hour session that day!!!!!!!
Attention shoppers. Your net worth is taking a huge hit to items that may not fit in a few years, may be out of style in a couple and you won’t like soon because you have changed or upgraded
your taste. Give us a call so that we can take that money, call tons of its friends and bring in the millions right under your nose.
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Brandon and Gina Wilkins are financial coaches and co-founders of Financial Freedom Builders LLC. Mr. Wilkins is also the author of the financial classic, Getting Rich is Simple...But It Ain't Easy! They are available for coaching, workshops and seminars designed to help you take control of your finances.
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