May 29, 2013

What are some of the ways advertising companies use to dislodge you from your money? Why should you care?

4 thoughts on “May 29, 2013”

  1. Katherine Graham says:

    Advertising has a major impact on our thinking and behaviors. Advertising companies try to convince you that their product/service will make you happy, successful, etc. Therefore, advertising sometimes causes people to purchase a product/service on impulse. Advertising companies also play off human emotion. Therefore, if the product/service is not a basic need, you should wait 30 days before purchasing it. Since advertising companies are everywhere, it is important to reduce your exposure to advertising. This can be hard to do, but it is very effective. I should care, because my financial future depends on me spending my money wisely today, tomorrow; everyday.

  2. Mike Finley says:

    Another fine answer, Katherine. Let’s recap. Advertisers produce messages that feed on your emotions (fear and greed are the two primary ones). They “sell” success, “coolness”, sex, popularity, and happiness to name a few. They strive to help YOU plant yourself in their created image (simply an illusion) right beside their product. It is very effective for THEM, not you.

    Why should you care? Just as Katherine stated, your financial future is at stake based on your daily decision-making abilities. If you fall for the messages you will end up spending your paycheck and maybe more on “stuff” while ignoring the need to save and invest for your future. That would be a BIG mistake. Understand how advertising works. Devise a plan to mitigate it in your life and finally, start an automatic savings program AT THE BEGINNING of each pay period. Save first, spend last. Your financial future will thank you.

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