The AdvanceLoan Finance Blog

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Are You The Last Of The Big Spenders?

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May 16th, 2012

What kind of spender are you, anyway?

According to a Readers Digest survey conducted by finance experts, mankind is divided into 5 different kinds of spenders. This may not be a new discovery but it formally defines us according to our spending habits. The research results do not specify if the results apply equally to men and women but the self-explanatory labels give you a chance to tag your ‘significant other’.

The classification

The five different types of spenders are:

Amblers – who don’t bother to check their balance until trouble hits,

Evaders – who leave bank statements unopened and never admit to being in debt,

Hoarders – who keep track of their money meticulously,

Validators – who spend to show they can, and

Splurgers – who just can’t help spending.

So which one are you?

Can you identify yourself under these headings? I myself am a mix of Ambler and Evader, the worst possible type of spender. The type loved by shopkeepers who recognize me and rub their hands as I cross the threshold of their store. Since the advent of online banking I can now log into my bank account every day and get an instant picture showing whether my balance is in the black or red. I then either accelerate my spending rate or stand on the brakes. It’s become a big game between me and myself with my wife occasionally zooming in out of the sun with a large shopping bag when I least expect it.

The depression effect

It seems that there is a definite effect on spending caused by the recession and the advertising people understand it very well. Fake special offers and dubious sales and the like are in vogue right now. I bought a tee-shirt the other day at a well-know store. As I was about to pay I saw a small sign, “buy another one for $5”. I did, making the price for 2 very reasonable. Today the entire shop is marked down by 20 percent, but the 2-shirt deal I got is cheaper than the sale. Last night I saw a notice in a local newspaper saying that the whole mall will have a 3-day ‘major’ reduction starting Monday. My tee-shirts were now marked down by 40 percent but the starting price had been jacked up. There is no way that the shopper can win in this war!

Another recession effect

This one is a well-known-response to bad times – Lotto tickets – man’s answer to an instant life-changing jackpot. What’s interesting in terms of spending is that no matter how bad things are, there’s still enough money in the cookie jar for a Lotto ticket. Of course it’s even better than a 2 for 1 deal – where else can you buy a great dream at that price?

The sadness effect

There is one other well-known effect on spending and that is sadness. If you are sad or feeling blue you are more likely to spend more money to acquire the same commodities as a person whose emotional state is neutral, according to an article to be published in Psychological Science.

Tags: Bargains, Money, Shopping, spending
Posted in Business, Credit Cards, Economy, Employment, Finance, Money, Personal / Internet | No Comments »

Here We Are in the Middle of the Merry Month of May

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May 15th, 2012

Now I start worrying about June – what kind of month are you going to be?

So far, May is indeed a Merry Month for me here in the Home Office. I hope everyone’s May is going as well as mine, but from the statistics, it is clear that the world is hovering on the edge of another recession. Towards the end of every month I run my business figures across my mental screen to see if I am still ahead of my creditors.

My personal record for May

Loans

Number of applications I have made for loans: 0

Sales

Article writing

Gambling articles: 0 This market has gone very quiet.

News reports: 5

Financial articles: 15

Painting department:

Watercolors: 1 started and finished

Acrylics: 2 started of which 1 is near completion.

Income

When my clients have paid it will get me through the month of June as long as there are no major surprises. These could range from a car break-down to a lost crown on a tooth, both designed to wreck any household budget instantly and drastically.

Unpaid accounts

None. Big improvement since I stopped taking work that comes from unknown sources. This is the route that much of the writing work from unknown sources takes:

you are offered the work,
you are excited at the prospect of a new client,
you do the work in a rush to impress,
you do a great job to impress even more,
you send the work,
you never receive a response,
emails sent to the same address come back from the Daemon Mailer with a note that says ‘uh-uh, this email address doesn’t exist’.

Expenses

A home-based writer has few expenses. All the usual household expenses apply and unless one prints work there is no need to buy ink or paper. I lashed out and bought a new 22 inch computer screen and I am enjoying it. I figured that if sitting in front of the computer is my life I may as well make it as comfortable as possible. On the painting side I made the mistake of using my favorite watercolor brush to work in acrylics and that ruined the brush. I bought a new one and an extra one in a different size. Buying good brushes is no joke and I’m not sure that the income Tax Department has me down as an Old Master or a Sunday afternoon painter.

June

So let’s take a look at next month’s prospects. On the article writing front I hope everything will remain stable and maybe even increase. Some months I used to receive orders for gambling articles and gambling news items but this sector is having a bad time. I am psyching myself up into starting a new painting which requires some energy, time and small amounts of money in photos, prints etc. and getting my main model, a grand-daughter, to sit still for a few minutes while I take pictures.

Age

I added 1 month.

Tags: Painting, Work from home, Writing
Posted in Business, Credit Cards, Economy, Employment, Finance, Loans, Money, Personal / Internet | No Comments »

Of Crossword Puzzles and Red Wine – A Study in Economics

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May 14th, 2012

How to stay normal when the whole world is crazy

How is it possible, I ponder, as I fill in the C, that the answer to the clue “Warm up” in the New York Times crossword turns out to be ‘DEICE’? One of these days, I promise myself, I will dip into my pocket and treat myself to a new crossword dictionary, one with all the latest words, like DEICE which means ‘Warm up’. I am sadly out of date and lagging behind in my crossword English.

Shopping

“We’re going shopping!” The cry comes from the kitchen. I look around. There are only two of us here and we’re going shopping? The penny drops and I unwind from the couch with a groaning performance straight out of a grand opera.

Sunday night in the supermarket?

“They’ve got specials for one night only!” And the whole town knew about it except for a few crossword fans who were busy with the really important stuff. The supermarket is standing room only. “DEICE” meaning ‘Warm Up’? Oh you idiot, I tell myself. It’s DE-ICE and everyone turns to see who is shrieking with crazy laughter. Of course it’s DE-ICE. Now you are stuck in the supermarket. May as well be positive. Anyway DE-ICE wasn’t exactly fair. The clue should have indicated that the answer was hyphenated. What’s on sale?

The Red Wine Special

There are cases of red wines piled dangerously high in the corner under a large sign that says

1 bottle – $20
2 bottles – $35
3 bottles – $48
4 bottles – $62
5 bottles – $75
6 bottles – $87

Which one?

Hmm, which shall I take, I think. There are Pinot Noirs, Chardonnays, Cabernet Sauvignons and Merlots. There are wines from Chile and Australia and a dozen countries I have never heard of. There are men crowded around the boxes and up to their armpits pulling out bottles and making smacking noises with their lips as though they are already sipping the stuff. “And just look at these prices! I’m taking 5 cases!” I stand back and watch with interest. Most of these men would be lot happier if they were pulling out bottles of beer. “How many are you taking?” asks my wife. “None. I just decided that I don’t like red wine. Have they got a deal on whisky?”

“Don’t be ridiculous!”

The $9 deal

They are running a $9 Sunday night sale on all sorts of goodies. Like 3 cans of pickles for $9, 2 packets of cookies for $9, 4 boxes of fruit juice for $9, and more. There’s a catch in very small print. You have to spend $100 to qualify for the $9 deals. We came home with packets of all sorts of stuff we don’t normally buy, but we made the $9 deal! It cost plenty.

Loaders or Loafers?

The clue is easy: “They have no ties”. Who? Idle (Free) Loaders on the streets or those Loafers that you pull on your feet when you’re off to the beach? Even the new dictionary wouldn’t help here.

Tags: Crosswords, Red Wines, supermarket, wines
Posted in Economy, Employment, Finance, Money, Personal / Internet, Shopping | No Comments »

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The AdvanceLoan Finance Blog

Are You The Last Of The Big Spenders?

Here We Are in the Middle of the Merry Month of May

Of Crossword Puzzles and Red Wine – A Study in Economics