Wasters spend money as an escape. With low self-esteem issues, they use money to purchase things in order to feel better, relieve stress, and escape their problems.
In a society where massive and pervasive advertising can easily manipulate behavior, there is nothing like the feel and sense of something new (or so the advertisers would have you believe.)
A new car or truck or television or vacation can end the emptiness inside-for a time. When that empty feeling returns there are still bills to pay.
Wasters, however will continue spending. With a credit card industry that encourages, indeed programs, people to buy now (for wasters-feel now) and pay later, wasters will sign up for more credit. They will find themselves locked into a life of revolving debt.
With low self-esteem they will more often declare bankruptcy and they will more often go back to their unsuccessful money management techniques of short-term retail relief and long-term debt woes.
http://www.estherpinkston.com
Posted By: Esther Pinkston
Tuesday, August 26th 2008 at 2:33PM
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