Now that I am home and working from home, I have noticed I have the urge to buy more. Has that happen to you?
An article by Mark Beach, Forbes, “COVID-19 Pushes Up Internet Use 70% And Streaming More Than 12%, First Figures Reveal”, tells us exactly that. It refers to the change in our buying behavior during the pandamic. Some say, it’s because we are saving more due to not commuting, eating out, not meeting people, or CREB/Stimulus check. When we see extra money in our bank, we just want to spend it. Some say, it’s because we just have nothing to do, we have nothing else to occupy our time with so we are induldging by spending on materials.
What is it for you? I think for me it’s because, I spend time scrolling through social media to see what is trending in fashion and then all these ads pop up. I bought so many TikTok gadgets that supposedly “makes life easier” but, did I really need it?
However, I am over all very good with my money. I am looking to build wealth by education and investments. I want put away atleast 60% of my money investments after expenses. In order to do that, I have to constantly remind myself of my goals. Do I want to buy these new clothes that will not be of any use to me this year? Or should I just take the money and buy more Apple stocks/IShare ETFS. This self discipline has to be instilled in all of us.
Being said that, it is a tough time so go ahead and treat yourself but don’t let it become an obsession.
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