Entitlement Syndrome – and why it’s costing you

Vanessa

Vanessa

 

Good morning! This is a guest post from Vanessa from Liberty-loves-company.com,  she writes about using money to buy freedom, how to become financially independent, and what it really means to live the good life.  She is lucky to live in New Zealand where the excellent beaches make up for the high cost of living. You can join her on Twitter: @Liberty__loves.

Let me know if you would like to guest post on RFI.

‘Because you’re worth it’.  A killer tagline.  Of course you’re worth it.  It’s a rhetorical statement.  The very fact of it justifies the purchase of anything.  It’s perfectly true and perfectly vague.  It satisfies a desire to feel served and pampered and righteously so.

This sort of emotional manipulation in advertising works day and night to convince you to justify your spending.  Your admittedly difficult challenge is to dissect and eliminate the bullshit.

A sense of spending entitlement comes in many convincing disguises.  All of these delusions are designed to please a needy version of ourselves that will never be satisfied.

The mental script runs a bit like this:

‘Jesus what a day/week/month!  My feet hurt and that shirt is scratchy around my neck. I’m tired of those idiot clients that don’t understand anything about how the industry actually works. I’ve bent over backwards for them all week, I’m smarter and deserve better than this!  I’ve sacrificed my time and three years of university, my job is important and stressful, I get home and the kids are on my back already, so this is the very least I can do for myself!’

Long story short – You deserve a treat, goddamn it, and it better be expensive and convenient and naughty and it had better be in front of you immediately – to hell with the expense.

Any variety of temporary pleasure or luxury is suddenly okay – expensive alcohol, table service, subscription magazines, overpriced shampoo, taxis, deli dinners, imported linen.  We select from an infinite buffet, an embarrassment of riches.

It’s okay because we have the perfect reason.  There is no guilt or deliberation because we are entitled.  Because we’re worth it!

Entitlement gets entangled with rights.  Rights get confused with expectations.  Expectations become habits.  We become little emperors who can’t remember a time when we fetched our own slippers or buttered our own toast.

We all have basic rights as human beings.  We are all inherently worthy.   That applies whether we are supermarket shelf stackers, accountants or European royalty.  We have the right to rest, and play and be ourselves.  We all have the right to be respected regardless of our position in life.

We don’t need to spend any amount of money to prove or demonstrate that worthiness.  A high income doesn’t make you automatically more deserving of luxury or better at handling money.  It often just makes you a lifestyle slave. Learn the difference!

Of course you can spend your money on whatever you want.  It is absolutely up to you.  You can swiftly burn through most of your income very easily by feeding a lifestyle that you have talked yourself into.  It might be a lifestyle that suits a person of your age and social standing in a particular culture.  It might reflect the lifestyle of your friends.  It will seem right for so many reasons.

Just don’t fool yourself into believing that spending money is an entitlement.  It’s just a choice.  It’s a choice that can take you closer to what you really deserve, or further away.

Side hustle ideas, part 1

Over at Make Money Your Way, I have asked around for unusual, weird, or well paying side hustle ideas, and here is the first batch!

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And remember, just a few more days to enter the BIG $500 cash giveaway!

What can you do with a damaged car?

Credit

 

When I bought my first car, I went big straight away, and having learned to drive on relatively compact vehicles, parking was a bit of a challenge. Especially as I had the smallest parking space in the world. Ok, maybe it is a bit much, but really, it was super small. So many times during the few months I owned the car, I made a little bump in the back by hitting the columns of the parking space. Every time, I thought “oh great, the car value has just dropped by £100”. It may be exaggerating a bit, but what if a bigger fender bender happens? What is your car worth? What do you do with it?

In the UK, the hourly rate of garage labour is generally above £80. So my estimate of losing £100 was not so crazy, as they usually charge you by the hour to fix your car. For a bigger damage, the bill can go up quickly. So not you are faced with several options for your car:

1. You can see how much your insurance would give you for it. Normally, you would have to pay the excess, which can be anywhere from nothing to £1,000 and up, and then if the vehicle is in such a bad shape it can’t be fixed up, the insurance company will just leave it where you have it, and you are now the proud owner of a heavy piece of metal.

2. You can get a damaged car valuation at Compare It’s Value to know how much your car is worth as is, and compare that quote with the cost of fixing it up. If the insurance offered you a very small check to help with the repairs, or if your premium would go up drastically for cashing the check, and you prefer to take matters in your own hands, that is a good option.

3. You can try to dismantle the car yourself and sell it for parts. Especially if your car is a bit old but has a few parts in good shapes, you can try to sell them on Ebay or Gumtree. I have been on the lookout for used parts for my cars here and there, and they are always sold at a high premium by the original manufacturer, so buying second hand parts is an affordable option. Still, you can command a pretty good price as your product is rare and in demand. That is if you have a quite popular model and make of car, otherwise it may be a bit more complicated to sell the parts.

4. You can try to fix it up yourself, or with another garage. Garages who work with insurances often get a bad rap for pushing up prices for insurance companies. So how about you go around a bit and get more quotes? It is possible that, once you discount your deductible and add your potential premium raise for next year, you would be better off having the car fixed privately. Also, there are lots of tutorials online on how to perform car maintenance and repairs, so you may be able to do the simpler fixes on your own and save a little more there.

Easy ways to save money when eating out

Easy ways to save money when eating out

Easy ways to save money when eating out

Good morning! Join me to welcome Glen, who is the owner of www.howtosavemoney.guru a personal finance website that is primarily dedicated to helping others learn to save money, but also touches on topics regarding making money online.

Let me know if you would like to guest post on RFI.

Eating out is often one of the first things that people cut when they start budgeting. It makes sense when you think about it, after all, it is a lot cheaper to eat at home than it is to eat out at a restaurant.

Despite eating out being more expensive than eating at home, sometimes you will want to go out and have a nice meal at a good restaurant.  It might be a special occasion with your significant other, or perhaps a night out with a  group of friends – it doesn’t really matter. The main thing you need to remember, is that even when you are on a budget, there are ways to spend less when eating out.

1 – Utilize Coupons

I pretty much never eat at a restaurant unless I have a coupon that will save me some money. Sometimes it might be something like a buy one get one free, or buy one get one half price – I love these type of deals!

2 – Check the restaurant ahead of time

Using coupons is one thing, but if the restaurant is super expensive, then there is a good chance that the coupon is just bringing the meal down to a normal price. The best way to combat this is to take a look at the menu online prior to booking a table. That way you can see the prices ahead of time and compare them with other places to eat in a similar area.

3 – Don’t Tip

I live in Australia, and tipping just isn’t a big deal over here – some people do it, others don’t. Now I know that tipping is expected in some countries, and in those cases  I would consider giving as small of a tip as I can manage without offending someone. Or if you can, go somewhere where tipping isn’t expected.

4 – Try going out at Lunch Time

Often places will charge a lot less if you decide to eat out at lunch time rather than at dinner time. I’m not sure of the exact reason for this, but in some cases you are able to save upwards of 15-20% on meals. My guess is that because a lot of places have less patronage throughout the day, they reduce their prices to try and get as many people as possible through the door.

5 – Do dessert elsewhere or not at all

Some restaurants charge insane prices on their dessert menu items. I have personally been to restaurants that have charged $15 just for ice cream – needless to say, we didn’t have dessert there.

Something that my wife and I do whenever we go out and want dessert, is to stop off on the way home at  a local ice cream shop where the prices are a lot more within our budget. Other times we will just skip dessert entirely, either way we are saving money compared to eating dessert at the restaurant.

6 – Offer to provide a positive review on their website for a discount

My last tip is a little obscure, but it has worked at least once for me in the past, and that is to offer to leave a good review for the restaurant on their website in exchange for a discount on the meal, or a free dessert.

This almost never works unless the owner or manager is the person you are talking to, but if you can hunt them down it can be worthwhile. In my instance the owner ended up giving us a meal for free in exchange for the review.

Make Money Selling Bottled Water

Today, I have a guest post on  Make Money Your Way from Thomas who will show us how to make money selling bottled water. He is the owner of  i need money ASAP! and wants to help everyone who needs money quickly. 

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