It is very important to understand how you can get a loan.
Recently, a joint study of University College London, Open University and BBC Lab UK found that the way people see money affects their consumption habits. For example, when someone considers money as a security tool, their risk of financial problems in the future tends to be reduced. If, on the other hand, money is seen as a symbol of status or power, problems may come sooner rather than later.
The study established that there are four ways in which people look at money. There are many who are always worried about how much they earn and how much they spend, others spend feeling good, while some are in a constant state of denial regarding their consumption habits.
4 ways to look at the money
According to the previous study, these are the four ways in which people look at money:
Status spenders conceive money as a symbol of power, a tool to influence or impress others.
Savers for security see money as a source of security. These people feel more comfortable saving money even if it is not for a specific purpose.
Lovers of independence are hedonists, they live day to day and do not worry about their financial situation.
Generous indulgent enjoy spending money on others, as a way to show affection and appreciation.
How do you behave when buying?
Now that we know the four ways in which we look at money, we will know the different behaviors when buying:
Fanatical buyers buy very often. Many times, this class of people buy “accidentally” more than they had planned. For example, they can enter a store to buy a pair of shoes, but leave with several more objects.
Frugal buyers do anything to save money. They are able to spend hours comparing prices in stores or on web pages, to make sure they get the best price. Moreover, do not hesitate to go to the other side of the city to save a few euros, although they take longer.
Evasion buyers believe in shopping therapy. They spend money as a method of relief and to escape from the problems of their work or personal life.
Reluctant buyers feel apprehensive about spending money and try to postpone each purchase until the last minute. For example, such a person would only consider buying new shoes when the pair he is currently using is absolutely worn and can not be used anymore.
Self-esteem buyers go shopping to increase their self-esteem, for example, by buying expensive clothes that make them feel better.
And you? What type of buyer are you? Remember that whatever you are, the first step is always to be aware of your consumption habits and the way you see the money.