Do you spend $400
on an iPhone but say you don’t make enough money to save. Did you buy a Lexus truck but complain about
paying a parking ticket? Do you complain about paying for health insurance but
spend $800 on a pair of Louboutin shoes? Did you buy a new $30,000 car instead
of saving for a down payment for a house? If this sounds like you, you are a
selective spender. You spend money on
frivolous items that have no value with no problem and complain about spending
money on important items such as insurance, rent, mortgage, gas for your car or
contributing to a savings account.
I am a selective
spender too but I shop smart. I don’t pay full price for items and I don’t
spend a lot of money on cars, electronics or food. I also comparison shop on prices for
everything I buy. However, I don’t mind
spending money on important things like homeowners insurance, car insurance,
life insurance, health insurance, groceries (to cook at home), contributions to
my savings and retirement account and
car maintenance to name a few. It baffles
me how many Americans spend $25,000 - $30,000 on a new car but complain about
spending money to purchase health insurance or co-pays at a doctor’s
office.
The average cost
of an iPhone can range from $200 - $800 for the phone plus additional fees for
a voice plan, data plan and text messaging.
My car was recently totaled and
it amazed me how so many people offered car choices that cost $25,000 or more
as if they were speaking about buying a new shirt. So and so just buy car X and got a good deal
for $25,000. I’m thinking, $25,000 I will never pay $25,000 for a car that will
depreciate as soon as I sign the contract. A car that only takes me from one
point to another that does not have diamonds and rubies or include a driver to
take me where I want to go.
According to the
National Automobile Dealers Association, the average price of a new car sold in
the United States is $28,400. An
automobile is a passenger vehicle designed for operation on ordinary roads that
has 4 wheels and a gasoline or diesel internal-combustion
engine. Automobile originated from the French meaning self-movable.
If you purchase
an automobile for $25,000 you are paying for an item used to move yourself from
one point to the next over a 3- 6 year period depending on the length of your
car loan. It
costs approximately $1,255 to manufacture an average family car and up to $2,475 for
a luxury car or sports car which includes the labor costs and worker benefits or
8% the cost of the car.
Last year, Americans spent $10.7 trillion shopping. Americans spend more on transportation, housing, and health care than Canada, United Kingdom and Japan but we spend less on food, clothes and alcohol.
Last year, Americans spent $10.7 trillion shopping. Americans spend more on transportation, housing, and health care than Canada, United Kingdom and Japan but we spend less on food, clothes and alcohol.
According to the Bureau of Labor Statistics Americans spend more
money eating but spend less on cooking at home than Canada, Britain, or Japan. Last year Americans spent more than 15% of
their income on food, almost 17% of their income on transportation and 41% on
housing. In 2011, Americans spent $96
billion on beer, $4.14 billion on St. Patrick’s Day, $11 billion on coffee, $5
billion on ringtones, $18 billion on credit card late fees and $500 million on
Twinkies. If they used 1% of the $5 billion spent on ringtones or $500,000 they could all become homeowners or business owners. Are you a selective spender?
