Some family members are still having a hard time managing their finances. As much as I would like to help them, only they can help themselves. If they will continue sabotaging their budgets and keep a maluho lifestyle, nothing in their financial life will change for the better. One of their money practices is buying things using money they haven’t received yet. Is there really a thrill from such kind of acquisition? Apparently, there is!
The idea that you can have the thing you’ve been wanting to have in advance by borrowing money from someone. The thought that you can buy the merchandise you’ve been planning to get earlier than schedule because somebody is willing to lend you money. The realization that you can get the things you want because you have some money coming soon and there are people that can lend you money right now. There’s a thrill there at some point, right?
I’ve asked the same question to the said family members and they all answered in the affirmative. I can see my former self saying yes, too. I just can’t nod in agreement today when spending money I haven’t received yet nor I don’t have is a big no-no for me. If it’s not yet in my hands or is not yet reflected in my bank account, it is not my money. I won’t dare touch nor spend it. Yes, I might allot it to something and that’s fine. But I won’t spend it in advance. I’d rather wait for the money to arrive and then I’ll spend it on something I’ve been meaning to get. Bagong-buhay na ako at ang saya pala ng ganito!
Through the years in my financial journey, I’ve realized that the thrill from a new purchase is short-lived. (This is especially true for impulse purchases.) It fades fast and more often than not, you find yourself seeking another purchase to keep the good feeling going. The thrill may be intensified by the fact that you got it in advance using other people’s money, but still, it’s temporary. It vanishes and the reality of paying back your lender sets in. What if a financial problem suddenly comes up and you need immediate solution for it and that’s the only money you have? I have experienced it before and I don’t wanna experience it again. Dealing with a bank or a credit card company regarding late payments may be easy, you only have to be willing to pay the monthly interest and/or penalty fees. If it’s a person, a sincere apology will do. Or not! This is especially true when that person needs the money as much as you do at the time. It can be very stressful, I tell you. I guess I have learned my lesson and taken that lesson to heart.
“Parang dumaan lang sa kamay ko ang pera!” I normally hear this statement right after the release of bonuses or other incentives at work. Again, I’ve been in that situation before. When I changed my ways, I felt 100x better. It’s a great feeling to allot your money to the things you prioritize, not just to the things you badly wanted before but have less meaning to you today. Whenever I try to lecture the said family members on the subject, they just nod in approval but say they still can’t change their ways for now. If not today, when? Then I get silence for an answer. I believe the time will come when they would realize what I’m saying makes sense, after all. I just hope it’s not yet too late when they do.
And just to make it clear, I have nothing against people who continue to buy things using money they haven’t received yet or worse, using money they don’t have. I’m just sharing my personal experience and perspective on the matter. We all lead different lives and the money practices that may be working for me may not be working for you and vice versa. Plus, it’s your money, not mine. I just can’t help but be concerned for the said family members who, I believe, know better than buying things using money they haven’t received yet.
Care to share your thoughts on the subject? I’d love to hear them! 🙂