Today’s post is by Daisy Flower, our normal Thursday contributor.
I have always been easy to sell to. Even though I never actually want the product and I’m usually convinced that it doesn’t work, I simply give in to pressure. This has always been a peril of my finances.
Within the past few years I’ve learned to stand my ground when it comes to my money and you should do the same. It will pay off exponentially, and give you confidence to make the right decision later on. There are a few different scenarios when you absolutely need to stand your ground to protect your finances, even if it makes you uncomfortable.
In Awkward Situations
Many people end up caving to avoid awkward situations. With a particularly pushy sales person, many people buy the item just to get away. I recently conquered a situation like this.
I had signed up for a free trial Crossfit class locally. I wanted to try it out before I committed to a full month at $130.
This company was a family business, and the husband and wife team that ran it also sold “diet plans”, which was essentially an expensive protein powder. When I first walked in, they were immediately trying to sell me the “plan” that they had created. I have a pretty good diet and have custom created meal plans for my unique needs, so I tried to shrug them off. They wouldn’t let go.
I ended up finding the class incredibly difficult, which is a good sign, so I wanted to sign up for the month, but they wouldn’t drop the diet piece. Before, I would have caved and signed up to get myself out of the situation, but I stood my ground and politely shrugged them off and paid for just the classes.
Was it awkward? Yes! But my bank account is thanking me.
With Your Intuition & Findings
Financial advisors and other professionals will try to convince you to do things that are against your intuition, or against the findings of your own research. This is to benefit them, not necessarily you.
Many people are convinced that these ways of thinking and doing things are the right way, but letting them push their opinions on you can lead you down the wrong path and it can be an expensive one.
When house hunting, our real estate agent was keen on selling us a house and closing the deal. She would show us houses above our budget and try to talk us into purchasing them because we “wouldn’t find anything like it”. She made us feel like our budget was too low to find anything worthwhile.
There was this one house that we loved. It was within our price range, but had an issue which would have cost a lot to fix. Tens of thousands of dollars, as it was a cracked foundation.
Our real estate agent kept trying to convince us that we didn’t need to fix the issue, and if we did, she said she doubted it would cost over $5,000. We did our own research because our intuition told us to, and found that it would be at least $24,000 to fix and there was no guarantee that it wouldn’t collapse again.
We stood our ground and insisted that we do our own research. It turned out that we were right to do so. If we hadn’t, it would have cost us a minimum of $20,000 over what she’d estimated.
We all have innate sense of what we should be doing with our money. There’s a reason you have that feeling in your stomach when you are in debt and still hand over your credit card at the mall. Notice how you don’t have that same feeling when you buy groceries?
We know, even subconsciously, what we need and what we don’t. We know what we should be spending our money on, and where it should be going.
Pay attention to your reaction to something after you purchase it, both at the register and when you are paying off your credit card. Listen to yourself and stand your ground with yourself.