You Will Be Broke All Your Life...

Today, I woke up and didn't have any desire to attend my "Financial Peace University" class. Last night was my friend's birthday bash and I got home after midnight. Normally, I'm in bed by 10pm, but lately 11pm. When arriving home I was sleepy, but needed to band my hair and I watched Oprah for company. Therefore, I didn't fall asleep until 1:30am.

My alarm went off at 5:30am and I snoozed it for 60 minutes. I received my daily morning call from a male friend, but I didn't answer his first call at 6:07am or the one at 6:17am. My body was so tired that I didn't hear my alarm after the 60 minutes. If my mother hadn't called at 6:45am, I would have missed my class.

I was in my car and out of the driveway at 7:45am for the 8:00am class. I got there at 7:55am and the door was lock and it's pouring down rain. I knocked on the door and rang the doorbell. Now, I'm pissed, because the door is locked 5 minutes before the class start time. I get back in the car and started the engine to leave, because I have an attitude and I'm tired. Then I turned off the car and said to myself "God, I must really need to be here today, because this morning has been rough." As I sat a few minutes in my car the instructor finally unlocks the door. I'm still a little pissed and realize I need to have control as I walk into the church. I walked into the conference room and signed in. Here is out greeting exchange.


Instructor: Good Morning

Me: Good Morning! The door was locked.

Instructor: I'm sorry I didn't hear you. Please use your keys to knock on the door.

Me: I did...well you know that I here 5 minutes before every class.

Instructor: I must have been deep in thought.


I just hope I didn't roll my eyes at her, because that wouldn't have been appropriate. My mood was just really off this morning.

This weeks lesson was "Buyer Beware," which means "Don't Be A Fool." It explained the power of marketing on your buying decisions, how the media bombards us with advertising from "No Interest Until 2010 to Zero Percent Interest"

I like electronic gadgets and if I had a lot of disposable income 50% would be in this area. I know this, because of the credit card balances on the electronic store accounts and the stuff around my house. It's called "Immaturity" spending. When that came out in the lesson today, I felt really bad. I don't think of myself has immature and to find out that I have that mentality in my spending wasn't pleasent. Then the next statement was "You will be broke all your life acting like at child." UGH! I'm glad I didn't leave.

Here is what I've learned.

Because in American we spend more than we make, we must develop a power over purchase by:

1. Waiting overnight before making a purchase. (I know this, but haven't practiced.)
   
2. Carefully considering your buying motive. No amount of stuff equals contentment or fulfillment.


3. Never buy anything you do not understand.


4. Considering the "opportunity cost" of your money. (i.e. Purchasing a Mercedes with your mutual fund investment vs Keeping the funds in your mutual fund investment).


5. Seeking the counsel of your spouse or friend. (My friends always ask me if they should have been spend their money on items)

When making purchases these steps will reduce buyer's remorse.

What areas in your life are you immature? What was the last item you purchased that caused buyer's remorse?

"He who is implusive exalts folly." Proverbs 14:29 (NKJV)