What Is Your Spending Model And Do You Stroll The Line?

By: Pichi Bellingrath McClure

What’s your spending style and are you going the line?


The American individual credit card balance decreased from $ 6,629 to $ 5,897 from 2019 to 2020; However, emotional spending is still prevalent in society.

What are emotional issues? The coined expression “retail therapy” sums it up. Retail therapy actively buys things with the intention of making you feel better. In itself, it’s not a bad thing – when it is measured measured.

However, it becomes a problem when you lack self-regulation and spending gets out of hand. You can develop Self-control in relation to your expenses by understanding the opposites of emotional expenses.

Life is full of opposites. Personal finances are the opposites of impulsive and cautious spending. Careful spending is not a bad thing in itself. There is no real consequence other than that you may be overly careful and not enjoy the little things in life. However, there can be serious financial consequences for pulse outputs.

[Related: Closing The Generational Gaps In Financial Literacy]

How do you balance the two? Just as Johnny Cash was singing “I Walk the Line” there is a line you go between them. The line represents self-regulation and forms the balance between self-awareness and discipline.

Sometimes it’s okay to be impulsive, but you need to watch your finances and see if this is an impulse that you can afford. This is the line to go.

On the flip side, the benefit of self-regulation coupled with discipline and confidence with your purchases of all sizes is that you stay within your budget – with little or none fault and a good FICO score.

Before making any purchase, follow these steps to break the line of self-regulation on current spending:

  • Wait 48 hours before making a purchase.
  • Analyze the purchase to see whether it is a real need or just a need.
  • Evaluate your financial resources.
  • Check your budget.
  • Comparison shop.
  • Do you assess how empowered or guilty the purchase makes you feel?

If, after going through the steps above, you feel empowered rather than guilty, exercise your personal financial freedom by crossing the line of self-regulation between the two areas of cautious and impulsive spending.

[Related: Building the Foundation for Financial Security and Independence]

If you break the line of self regulation, you can build up your financial nest egg. You can put every dollar you don’t waste into a financial instrument that can be used to make money. Compound interest, your tireless moneymaker, works for you even while you sleep to increase your income.

Once you master the path between the impulsive sphere and the cautious sphere via the line of self-regulation, you will have the best of both worlds by understanding the balance between impulsive shopping and responsible spending. The money saved can be financed Investments are worthwhile.

Constructive spending, consistent discipline and constant self-confidence lead to money habits that create a strong reserve for retirement assets. Long-term savings behavior begins with your decision to consistently self-regulate between the two opposing circles of impulsiveness and caution.

Acting between the circles of impulsiveness and caution by crossing the line of self-regulation is a lifelong way of thinking. Ultimately, this lifestyle is to be adopted. If you practice these attitudes and behaviors consistently, you will be self-sufficient and rich. Peace of mind emerges – a peace that is priceless and cannot be bought.

[Related: Take Charge of Your Finances to Give Your Career a Boost]

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Pichi Bellingrath McClure is a resilience expert. She helps people to strengthen their personal leadership and to overcome the impossible through their content, tools and strategies. Subscribe to something her bi-weekly resilience tips and follow her on LinkedIn, Twitter, and Instagram.