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How to stop being exploited financially

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How to stop being exploited financially

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About a year ago I travelled to Venice – the romantic city with gondolas, poor broke tourists and rich fat cat restaurant owners milking tourists for all their worth. In one of the main walkways, I found a big souvenir shop with huge signs of up to 80% discount on souvenirs. It was FULL of tourists all checking what glass things they can buy at this unbelievably discounted rate. The only trouble was it wasn’t. The items were more expensive than many of the other places in Venice.

People are naive and believe these things are ‘discounted’

Another such case was last year on Black Friday – I tried to buy a mobile phone which was on special for about R 1 500 less than normal, but the website crashed with my phone in the basket. Two days later I saw the same phone on special on Takealot on their daily deals for about the same price.

Stop believing the lies

This is the bottom line – companies are taking advantage of you with so-called specials.

You are their financial opportunity.

I read an awesome book by Grant Cardone – Sell or be sold. This spoke of the idea that either you buy their things, or they buy yours. 

Our inner narrative

It seems like we create a story in our head. 

We justify our actions by the media.

To reach the point of not being exploited, we need to change what we believe, what we think and what we do.

We need to start asking questions about the true benefit of things.

Here are some pointers to get you started:

  • Ask yourself what you will be doing with this thing in three months’ time
  • Tell your spouse/friends about your intention to buy something. 
  • Pay cash for everything for a month – the brain creates pain when you’re spending cold hard cash.

Conclusion

We need to start changing our internal narrative

Make a decision not to just buy something because it’s awesome now.

Question consumerism

So, go now!

Happy investing!

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Article reposted with permission from Frugal Local. Original post here.



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Hey, I am frugal... I love talking about property and money. Some interesting facts about me: I drink too much coffee. I have walked the Camino de Santiago twice. I have the most awesome wife. I am a software developer by day.

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