Sharing Daily Discoveries About Personal Finance And Business Topics

Avoiding Certain Presents To Discourage Bad Spending

This was kind of funny I thought. There was an item which I thought would be a good fit for a person that was moving to a new place. As usually, I normally ask if people want to pool in their funds to get something big that the person would definitely like. While we were certain that the person would like it, someone commented how we should avoid it as it will encourage the person to spend more money when he needs to learn to save more.

For example, imagine buying a person a DVD player where once he has one he will then start to spend money buying movies. Can’t say that I have really factored that in too much when trying to buy someone gifts. I think usually if I am that concerned about their financial situation my focus would be more in getting stuff that they need as opposed to want. Definitely makes sense though when it comes to factoring if the person will spend more as a result.

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