Buying is an Habit…Not Buying is also an Habit

I got this memorable quote while watching MBI today. Ironically it was a program tagged “Telemart” a program aimed at informing viewers on the best place to get good bargains on various products and services during the festive season. It got me thinking about our penchant to buy and buy without ceasing.

 We’re daily badgered by billboards, TV adverts, radio jingles and other forms of advertising which places a lot of moral suasion on consumer behaviour, which invariably affects our attitude towards money. Think about this quote for a second and let it sink deep into your soul. Also meditate upon it and you’ll discover how crazy it is to base our personal happiness upon material gains. In our unending race to catch up with the Joneses, the best car, wine, dresses, house is not enough unless it out matches that of the Joneses.

How materialistic can we get? We need to get our priorities right and determine if the Naira earned today is better off being spent on material things rather than saving it towards investment for the future. Every time you reach for the next item on your must have list, think and weigh the opportunity cost of having this item vs. your long-term financial goals.  

I’ve discovered that we really do not give a deep thought on how we spend our money. We’re a nation of emotional spenders rather than rational spenders. We hide our inability to say “No” behind such reasons, as “God owns the universe and the earth, who am I not to spend what he has blessed me with? ”. Develop and cultivate the habit of not spending and you will notice the difference in your networth at the end of the day.

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