February 9, 2014 Admin | February 9, 2014 What is the purpose of advertising and what does it have to do with YOUR personal finances?
4 thoughts on “February 9, 2014”
Advertising tries to get you to buy stuff that you dont need or dont know you “wanted”. Advertising convinces you to get stuff that you normally would not under other conditions. If you succumb to advertisements you will end up buying stuff you would never need but sometimes want for no other reason than it being cool, such as a luxury car or a new smartphone or laptop when the ones you have are perfectly fine. You should not listen to the advertisements and only buys stuff when you need it and not when you want it. The 30 day rule is a good way to not over buy stuff you see, that you think you want.
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. Your financial future depends on you spending your money wisely today, tomorrow; everyday.
Advertising is the age-old art of trying to get YOU to spend YOUR money. It doesn’t matter if you need what is being sold–the game is to get the item in your cart and send you on your way. Advertising has a massive impact on our view of ourselces, often determining for us what is cool, necessary, and what evaluates our sense of wealth. By doing this, advertising manipulates you into accepting their product by convincing you that you need it–even, and perhaps espexially, if you don’t. Therefore, staying vigilant about recognizing the role of advertising in our lives will ultimately benefit you financially. When you’re aware of the game, you can be another skilled player, not just another pawn with a pocketbook.
Wonderful comments from you all. I have little to add. You can learn more on this subject by reading Your Money or Your Life by Vicki Robin and Joe Dominguez and/or The High Price of Materialism by Tim Kasser.