Wondering why you can’t break the cycle of overspending money? Watch this video to discover why this is and what you can do about it. I know the struggle is real to live our best life now, but also we want to be financially smart, so finding a balance is really important. If you keep […]
Wondering why you can’t break the cycle of overspending money? Watch this video to discover why this is and what you can do about it.
I know the struggle is real to live our best life now, but also we want to be financially smart, so finding a balance is really important. If you keep running into the end of the month wondering where your money went and why you can’t save or get out of debt, by the end of this video, you’ll have an understanding of 3 reasons why the answer is deeper than you realize and what you can do about it.
I will cover:
Before lasting financial changes can be made in your life it’s important to understand why overspending happens in the first place, so you can stop it from happening going forward.
Advertisers spend over $200 billion per year in America. This breaks down to about 550M per day of money that is spent with the goal of getting you to spend your money on what they are selling. The problem isn’t that something is wrong with you, but that you are dealing with professional marketers that have made it their sole goal to get you to spend money. Amazon spends 3.38 billion per year or 900k/day. Verizon 2.64 billion/year, Comcast came in at #1 spending 5.75 billion.
People on average see 5k ads per day.
Now, when companies are dropping these huge budgets, of course, they want to have the best results possible, so here’s where the psychological tactics come to play.
Advertisers use our mirror neurons as a way to get us to want what they are showing us. Mirror neurons are what help us learn. They are activated when we have an experience as well as if we watch someone else have the experience. When you see an ad with someone having a product and associating that with a positive experience it makes us what to have that product, so we can have that same experience. This happens all the time in ads like these.
Advertisers also use our emotional side to persuade us into feeling like we need what they are offering
With that in mind, you have to up your mental state of awareness to the things that you take in every day, so when you do make a decision to buy, it’s because you truly want or need the product or service and not because you just fell victim for physiological tactics used against you.
Clinging to your “why” will really help as you make a conscious effort to stop overspending and instead, allocate your money towards what adds the most value to your life.