SENIORS: SPENDING IT DOESN’T MEAN HAVING IT

Dec 8th, 2011 | By Dr Jerry D Elrod | Category: Senior Moments Blog

Issues About Spending Money for Seniors

The big tout is on about how much was spent by shoppers following Thanksgiving. Was it cash money or credit card?  Was it saved resources, just for the occasion or dipped into reserves that may have been required for other needs?  The numbers aren’t in on that yet.

The other shoe, however, will fall.  Perhaps prudence and good judgment prevailed.  But, by the look of the madness of the shoppers in the aisles, it doesn’t really seem so.  If it were a “devil be damned,” “all hell turned loose” spendthrift binge before its too late (for what)  then the devil will indeed be in the details.

Spending ‘because’ is not a rational motivation for putting a good share of your resources on the line. A little disappointment might go further than a lot of debt.  Sound like the “Grinch who stole Christmas?”  Might be better to hear the knell of warning than the bell of the bill collector.

Seniors Question Overspending

Emotional shopping and impulse buying are sewn into the fabric of the American shopper. Getting it before its gone is a psychological drive deeply embedded in the psyche.  Getting mine before you get yours means my kids will be better off than your kids on Christmas Day.  Think so?  Suffering some disappointment may be preferable to having hocked the family jewels for more plastic and gadgetry gizmos.

While thrift may seem old fashioned as a virtue, it still beats poverty and homelessness and joblessness and stuff in the great scheme of things.  There may be some consequences to overspending this season. And they may be in those envelopes that arrive after the first of the year with charges accounted for, interest attached, if left unpaid, and reminders that your 21% rate goes up every month there is an unpaid balance.  After the holidays, items that shoppers sought pre-Christmas are generally on sale at 50% off, or was that 70, 80 Or  90%.  It’s called inventory reduction, and makes one question what all the rush was about as holiday shopping began.

Some of this may not apply to seniors.  However, it may be well to be aware of the push and pull that is going on out there.  If our children overspend, they may request our sympathy.  If bad judgment is practiced, they may want a shoulder to cry one.  It just may be that being prepared to put the cards on the table will be a game not much enjoyed in playing, but necessary in winning.



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