Spending Psychology: What Kind Of Buyer Are You?
Creating a
budget, tracking what you spend and weighing what you want and need are
important steps which can lead you to a healthy financial future. However, it
might also be a good idea to consider why you spend, when you spend and
spending ‘triggers’ which may put your budget in jeopardy.
Impulse Buyer/Compulsive Spender
It is likely that almost everyone
has made an impulse purchase at one time or another. However, some consumers
spend compulsively or impulsively on a frequent basis. Habitual impulse buyers
may buy when feeling strong emotion or thrive off of the adrenaline rush they
feel when making a purchase.
Possible Causes: Lack of planning; lack of prioritizing needs over wants; buying
when feeling emotional.
Solutions To Try: You may want to
consider shopping with cash only and analyze your ideas regarding needs and
wants. When shopping is necessary, make a list and practice the willpower to
stick to it. Another idea might be to shop with a frugal friend who can give
you sensible financial advice. You may also want to practice delayed
gratification by thinking about a purchase for a while before buying it.
Passive Buyer
Passive buyers may consider themselves too busy to
comparison shop or research purchases, making them vulnerable to buying things
that may not be worth the cost or quality.
Possible
Causes: Procrastination/Avoidance; lack of savings
goals.
Solutions To Try: Consider planning shopping trips
so that you don’t feel rushed. Also, you might want to list your savings goals
and spending priorities and revisit your list often. Try to research customer
opinions and ratings on the internet prior to making a purchase.
Avoidance Spender
If you find yourself spending to
escape stress or to avoid unpleasant feelings, you may be an avoidance shopper.
Possible Causes: Shopping after a bad day; spending money to replace something you
feel is missing from your life; shopping to gain control over others.
Solutions To Try:
The Today
Show suggests taking a ‘purchase pause’ to confront your feelings and ask
yourself if you really need to shop or if you just want to feel better. Do your
best to replace emotion with logic. You might even want to try waiting several
hours or a few days to weigh the pros and cons of something you want to
purchase.
Esteem Buyer
Do you spend money on things that
make you feel like you fit in or are equal to others?
Possible Causes: Insecurities and low self-esteem; desire to appear successful;
peer pressure.
Solutions To Try: Keep in mind you aren’t what you
own. If a particular purchase appeals to you, ask yourself if it is something
you need. Will you use it often and love it? Instead of shopping, consider
fostering self-esteem through frugal interests or activities.
Try to stay focused as you work to overcome your
individual spending issues and take advantage of educational materials offered
by your debt negotiation company. Tackling your spending triggers can help you
to add to your reserve account, enabling you to pay off debt faster and live
financially free!
Spending Personality Quiz
|
I |
f you answer ‘yes’ to any question in the
quiz below, look at the behaviors at the bottom to see what category your
spending habit correlates with.
1.
Do you lack
willpower when you see something you want?
2.
Do you find
yourself making rushed purchases?
3. Do you dislike shopping or do
you put off shopping?
4. Do you ever buy gifts for others
because you feel guilty?
5.
Do you write
checks when you know you don’t have enough money in the bank to cover them?
6. Do you avoid discount stores?
7. Do you use shopping as a form of
stress relief?
8. Do you buy specific brands or
items because of what others will think?
9.
Do you
prefer to shop in upscale stores?
10.
Do
salespeople talk you into buying things?
Behaviors:
1. Impulsive 2. Passive 3.
Passive 4. Avoidance 5. Impulsive 6. Esteem 7. Avoidance 8. Esteem 9. Esteem
10. Passive
Tips Can Get You On The Road To
Affordable Insurance Rates
You may be able
to save on auto insurance without sacrificing the coverage you need. It might
be a good idea to check with your insurance provider to see if the savings
options listed below are available in your state.
Be Aware Of Discounts. According to SmartMoney.com you should check with your insurance
carrier to see what discounts you might be eligible for. Discount options can vary from state to state so
check with your insurer to make sure you are getting all the discounts you can.
Some common discount options are included in the box within
this article.
Maintain A Good Driving Record. Making it a personal goal to
stay free of citations, claims or accidents could help you save money on your
insurance.
Research Providers. The internet has made it easy for consumers
to compare insurance rates, analyze coverage options and research customer
reviews of insurance providers. If you are seeking a provider or changing
insurers, SmartMoney.com suggests obtaining at least three quotes. It might
also be a good idea to check with your state’s department of insurance to see
if a particular company has a high number of consumer complaints. For
information visit the National Association of Insurance Commissioners at
NAIC.org.
Keep Driving At A Minimum. Reducing the miles you drive not only saves
gas money but it could also lead to reduced car insurance rates. It might be
wise to consider carpooling which could save you as much as 25 percent on your
bill according to Bankrate.com.
The Right Car For You And Your Budget. Keep in mind
vehicles with the highest theft rates and repair costs could be more costly to
insure. If you are in the market for a new or used car you may want to call
your insurance agent to see if there is a difference in insurance costs between
the vehicles you are considering.
Get In The Driver’s Seat With
Discounts!
Combined/Renewal Discounts. Insuring your home and vehicle with the same
company may lower your car insurance and your homeowner’s policy as well.
Combined discounts might also be applied to policies insuring more than one car
with the same company. In addition, if you have a clean driving record and have
been with the same insurance company for a period of time, it would be wise to
consider asking your agent if you are eligible for a ‘renewal’ or ‘loyalty’
discount.
Safety Programs.
Those who
complete adult driver safety programs, including defensive driving classes,
might be eligible for premium reductions.
Good-Student Discounts.
Those
earning Grade Point Averages of 3.0 or higher may be eligible for a discount.
Group Discounts. If you belong to a particular auto club, alma mater, military group or
professional organization you may inquire about a discount.
Increased
Lawsuits Signal Successful Crackdown on Debt Collectors
A continued increase in lawsuits against
debt collectors was recently reported by InsideARM.com.
According to
WebRecon, LLC, a research firm, 503 lawsuits were
filed in the second half of October, bringing the total number of lawsuits against
collectors in 2010 to 9,564. This represents an increase in lawsuits against
collectors and indicates that consumers are continuing to fight back against
unscrupulous debt collectors.
Unemployment, underemployment and
other life circumstances can make it difficult for individuals and families to
stay current on their monthly payments. Some debt collectors may resort to
harassing and deceitful behavior in order to scare consumers into making
payments. Even if they fall behind in making payments, consumers should be
aware that they are protected by the Fair Debt Collection Practices Act
(FDCPA), which aims to protect consumers from unethical debt collection
practices.
Dealing with debt collectors can be
an anxiety inducing experience in any situation. Consumers should stay informed
on what collectors can and cannot do in order to protect themselves from
further stress and hassle. When consumers are aware of their rights it makes it
possible to report violators. The FTC received more complaints about the debt
collection industry than any other single industry, and it estimates that the
number would be higher if all consumers recognized violations and knew how to report them. For
example, debt collectors are not allowed to make unlawful threats, call your
home after 9 p.m. or discuss your debt with a third-party, such as a family
member, neighbor or coworker.
The Federal
Trade Commission (FTC) encourages consumers to stay informed about illegal
collector behavior by reading the FTC’s ‘Guide for Consumers’ at
http://www.ftc.gov/bcp/edu/pubs/consumer/credit /cre18.shtm.
According to
WebRecon, the majority of the lawsuits filed so far
this year are in response to FDCPA violations (8,953). Other violated laws
include the Fair Credit Reporting Act (1,069), the Truth in Lending Act (457),
and the Telephone Consumer Protection Act (148).
Frequently Asked Questions
How Do I Begin Using My UCAN Services?
|
In order to use your UCAN services, you simply need to contact us. We can
start assisting you immediately with the collector harassment that you are
experiencing. |
Your welcome packet contained
important documents, including a Letter of Authorization, which we need in
order to contact creditors on your behalf.
Keep in mind that this document is
in addition to and different from the Authorization to Communicate
you signed for your settlement company.
Can UCAN Provide Me With Legal Advice?
No, UCAN is
not a law firm and cannot provide you with legal advice. We use The Fair Debt
Collections Practices Act (FDCPA) as the basis to assist and educate our
clients. This federal law is designed to protect consumers from unfair and
abusive collection practices. We have aligned ourselves with a law firm that
has a network of attorneys specifically dedicated to consumer advocacy issues.
We can alert them if your situation requires their assistance
What Is The Difference Between My Settlement Company And UCAN?
UCAN
specializes in consumer advocacy issues. For example, we assist with collection
calls, threatening messages, or any other collector harassment that you may be
receiving. If you have any questions regarding your debt settlement program,
negotiations, or financial inquiries, please contact your settlement company
directly.
Will All My Collection Calls Stop When I Enroll With UCAN?
Most calls
can be reduced or eliminated, but they may not stop completely. UCAN and your settlement company will make
every effort to help minimize calls that you may be receiving. Our Creditor
Intervention Program outlines the series of steps we can utilize to curtail
collector harassment.
This process
is explained in your UCAN welcome packet.
What Are “Call Logs” And Why Do I Need To Complete Them?
A “call log”
is a form provided by UCAN that we recommend clients use to keep track of
collector calls.
When you get
collection calls, we ask that you log as much information as possible about the
content of the conversation. We ask that you fax or mail these documents to us
once a week. You may also enter your “call log” information online at
www.ucan.net.
How Do I
Contact UCAN?
Call us at 1-877-462-8226 or e-mail
us at info@ucan.net. Our FAX number is 1-877-895-7577.
Regular business hours are Monday
through Thursday 9 a.m. to 7 p.m. EST and Friday 9 a.m. to 5 p.m. EST.
|
Inspiring Thoughts “Far away there in the sunshine are my highest aspirations. I
may not reach them, but I can look up and see their beauty, believe in them,
and try to follow where they lead.” |
As a new year approaches, you may
find yourself reflecting on the past while considering goals and aspirations
for the future. It is important to have goals, follow your dreams and keep
moving forward. The great thing about life is that we can make resolutions for
personal change anytime - whether it’s the beginning of a new year or the
beginning of a new day. Perhaps now is the time for you to come to terms with past
mistakes so you can achieve your highest aspirations.
Set A Goal. What do you want to achieve? Seeing the beauty of what you want
and where you want to go could provide you with the strength needed to fulfill
your purpose.
Believe You Are Worth It! Try to remind yourself that you are worthy of achieving your
goals, dreams and desires.
Learn From Setbacks. Perhaps past mistakes are holding you back from following your
dream. Try to keep in mind poor decisions do not define who you are. Everyone
makes mistakes. It may be beneficial to reflect on past mistakes, without
dwelling on them, to consider what you did right or if you could have done
anything different to change the outcome. This self-reflection could help give
you some closure, enabling you to learn from your mistake, move ahead and enjoy
the present.
Choose To Be Happy. Although we may not always be in control of the path our lives
take, we can be in control of how we react to difficulties, how we treat others
and how we treat ourselves. As Abraham Lincoln quipped, “Most people are about
as happy as they make up their minds to be.”
Maintain Trust. If disappointments occur on your
journey to achievement, try to look for the reasons why and consider what can
be learned. Keep in mind disappointments can be tests of our determination and
resolve. How badly do you want to achieve what you are working so hard to
accomplish? Try to find trust and strength in yourself and your dreams.
Stay Focused. Try to keep having faith in your goals until your dream is
realized. Consider finding something that gives you the energy and hope to keep
going. If you allow it, your faith could help you get to wherever you want to
go in life.
Stay Physically Fit Without Sacrificing
Your Budgeting Goals
You don’t need to spend a lot of
money or have a lot of spare time to achieve your fitness goals. Consider some
of the ideas below to get in shape for less. (Remember to check with your
physician prior to embarking on any fitness routine).
Try
Free Or Low-Cost Resources. Check your local library for
exercise videos or DVDs. If you have cable, check to see if your listings
include FitTV (fittv.com).
If you have internet access,
Reader’s Digest suggests trying exercisetv.tv which features over 600 workout
videos, many of them free. In addition, users registered at Freetrainers.com
can fill out a questionnaire about their fitness level and goals to receive a
free customized workout plan.
Make Exercise Enjoyable.
Shape.com
suggests hiking, biking or walking in a safe, scenic location that inspires
you. Try to focus on the beauty of the landscape and how great you will feel
once working out becomes a healthy habit.
Use
Simple Tasks To Get Moving. According to Prevention.com, thinking about your daily activities
and considering ways to incorporate more physical activity into your life could
help you get fit.
According to the Mayo Clinic,
household chores like vacuuming and scrubbing could count as a workout if you
increase your heart rate. Try doing push-ups, sit-ups, squats or lunges while
watching your favorite television shows.
Also, remember that walking a pet can be exercise, too!
The Great Outdoors.
Gardening,
mowing the lawn and landscaping gives you the opportunity to burn calories. If
the winter weather outside gets frightful where you live don’t let that deter
you from your fitness goals. Check to see if any community centers in your area
offer affordable group exercise classes. You could also check websites like
Freecycle.org for home exercise equipment at no cost. If you can’t find what
you need for free, Craigslist.org, thrift shops and flea markets might offer
what you are looking for at a low cost.
Drink And Eat Well. Drink plenty of water and
eat healthy meals from fresh or frozen produce, lean meats, and whole grains. Frozen
fruits and vegetables on sale might be much cheaper than buying fresh produce
that is off-season.
Get
Fit With A Friend. Working out with a friend or family member can help you stay
motivated.
Although a Wii
game system may not fit into your budget now, you may know someone who owns
one. Why not get together with friends and share it? According to Reader’s
Digest, several Wii Fit and Wii
Sports game activities meet the American Heart Association’s recommendations
for optimal fitness: a half hour of moderately intense activity five days a
week.