SPENDING- Expectations Vs. Reality

Sathya Amritha.K  

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Did you know that an overwhelming 62% of people identified themselves as having problems related to both spending and saving? It was concluded that having a problem with both spending and savings is actually just one problem: spending. This was the outcome of a survey conducted by the NFCC (https://www.nfcc.org/tools-and-education/money-management-tips/be-smart-about-spending/spending-reality-check/)


What does your spending habits say about you?

Well, this fact triggered us to ponder more about the problem – Spending. On further brainstorming, we classified people based on their spending pattern as follows:

“Treat yourself” type

It’s all for the sake of “Others” type

Soothing spenders

Boredom spenders

The Deal seekers

Let’s take a closer look at the five types of spenders.

  1. “Treat yourself” type – These people spend to feel good about themselves. Their attitude is simple – ‘When I have earned my money, I have every right to spend it on myself and enjoy life’. Yes, we do advocate their thought but doing it on a regular basis could create a big hole in their pockets. Don’t you agree?

  2. It’s all for the sake of “Others” type – For some section of people, it is important to show how much they can spend and get noticed by others. They might spend on gifting others, might make a purchase as a symbol of status – just for the sake of others. The purchase made could have been easily avoided, and still, they do not shy away from spending.

  3. Soothing spenders – Spending gives pleasure to such people. Their philosophy is similar to those who eat more when they feel depressed or low. Spending offers the “high” that perhaps a glass of vodka can make one feel. Well, even to afford that one glass of vodka one has to spend. Isn’t!

  4. Boredom spenders – Boredom and Loneliness can also result in spending. This is a reality.

  5. The Deal seekers – Such people look for exciting deals. There are obviously no dearth of exciting deals and these people end up falling prey to it, without even thinking if the deal is actually worth spending or if the product which was purchased from the deal was actually useful or just a piece of momentary pleasure!

Expectation from spending

Among all the five types listed above, there is one common thing. It’s the subconscious connection that has somehow been registered in our minds that we equate fun and spending money (fun/happiness = spending money) and that fun is impossible without spending money. This the underlying expectation of people from spending and the reason for the same.

The reality check

Recall five most fun times in your life. We bet at least three of the five involved little or no spending! That’s the reality. Though we are not promoting that you should not spend a single penny for your entertainment, we believe that our perspective on how we spend our money should change. Of course, we can help you in this aspect, but you have to decide for yourself to become a conscious spender.

Using our easy receipt expense tracker, you could easily recollect the items you spent your money on. Tracking your expenses is the first step towards useful spending. It makes you realize if you have any regrets in the way you had spent the money. Tracking expenses can also help you answer that million dollar question –

“If you had to do it over again, would you make the same choices?”

If you prove yourself that your spending was worth it then those are the spending experiences that are actually worth it.

Eliminate the chaos in your spending by using our receipt catcher.

Choose NumReceipt – Your receipt bank for mindful spending!



About Author : Sathya Amritha. K is an engineer by profession with a passion for writing. A keen learner by nature, she believes that every day is a lesson for life. Writing for NumReceipt has taught her the art of spending and saving, so using the app would secure your financial future for sure. Visit her soul space where she has shared many experiences and reflections through her blogs about all amazing things which make up this beautiful life (https://sparkanewbeginning.wordpress.com/) and know more about her. When she is not writing, you can find her at the park running after her rollicking two-year-old twins.


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