Are You an Emotional Spender?

Are you an emotional spender?  Honestly, until about 6 months ago, I spent when I was happy, sad, bored…. it really didn’t matter what I was feeling.  I shopped  I have been working hard to stay on a budget but it is hard!

Did you know “The number-one problem in today’s generation and economy is the lack of financial literacy”?

Why??? The truth is, the problem is a struggle with self-control. You went to the mall to buy a birthday gift for your niece, and walked out with a new pair of shoes for yourself. You’ve tried a budget, but somehow you always seem to find something to spend money on that wasn’t in it. Can you relate? If so, consider these practical strategies to get your emotional spending under control:

1. Sleep on it.

If you think you just have to have it, whatever it is, make it your rule to sleep on your decision. Very few things are so urgent you can’t wait 24 hours to make your purchase.

2. Phone a friend.

Be accountable to someone!  You are more likely to reach your goal if you tell someone you’ve set one. So, tell a friend about your goal to stop digging yourself into more credit card debt. Then when you find yourself about to make another purchase you can’t afford, call them up and let them talk you down.

3. Never go shopping alone.

If you can’t trust yourself to phone a friend, then don’t go shopping alone. Of course, my biggest problem (and maybe yours) is online shopping).  The simple click to get what we want, NOW!  Headed to the mall, have someone with you who will hold you accountable.  Shopping online, STEP AWAY from the computer.  Leave it in your cart for 24-hours!  Refuse to use “retail therapy” to deal with loneliness, boredom, or disappointments. Find a new hobby which keeps you active, helps you to connect with others and builds new relationships. Focus less on accumulating stuff and more on enjoying experiences with people and things which matter most to you.

4. Plan for it.

STOP right now!  Take out a notepad and jot down the most important thing you need, and then the most important thing you want. Do you know how much each will cost? Jot it down. Not sure, find out.  How long would it take you to save for each? Practice delayed gratification (so hard for a recovering addict to do!). It forces you to appreciate the true value of your money, which will help you spend your money more consciously.

5. Keep a picture of your goal in front of you.

I have a vision board I carry in my planner so I am always reminded of what I am working towards.  Post pictures where you will see them on a regular basis so you are reminded of your goal. Whether it is on your refrigerator, in your purse, or on your bathroom mirror, make the vision plain and visible.

6. Take the credit cards out of your wallet.

I LOVE this saying…” if you want to get out of the hole you’re in, stop digging!”  If you’re in debt, it’s time to stop adding to your debt. And if you’re an emotional spender, keep your impulse purchases to a minimum by leaving your credit cards at home. No need to make it easy to charge it.  Better yet, cut up ALL of your cards (maybe keep one for emergencies).

7. Use cash.

I will admit, I am not a cash person.  I use my debit card for most things.  I actually feel like I spend less than when I use cash.  Crazy, right?  There are always those places which don’t take cards too so I can’t spend. Research shows though, forking over cash makes you spend less. As simplistic as it sounds, one of the best ways to curb spending is to determine your budget for various expenses (i.e., lunch, groceries, clothing, etc.), then take out your budgeted amount in cash.  Dave Ramsey’s system from Financial Peace University is AMAZING!   While it can be easy to lose track of how much you spend when you swipe a credit or even a debit card, cash forces you to count and keep track of what you spend in a concrete way.

If saving or spending is a problem, I challenge you to stop spending emotionally and start managing your money wisely.  Which of these tips were most helpful to you?

Have a ThirtyOne-derful day!

Increase Your Sales

I know, it is getting close to Christmas and Vacation Veronica is ready to creep in.  You know who I mean…. the inner gremlin who tells you  “it is time for you to take a break” or “everyone is shopping at the malls” or any of the crazy thoughts which keep us from moving forward with our business during the busiest selling season of the year.

For me, I am at Day 2 of an event at AT & T in Bedminster.  My first time taking a big event like this in a long time but I am grateful for momma’s help.  A closed event for employees, and vendors.  Okay, so more about how to increase your sales….

No matter what your business, I know there are many of us in direct sales struggling with the same thoughts.  Some are shutting down their businesses getting ready for their own holiday while others are plugging along.  With so many exciting things happening at Thirty One with Customer Appreciation month coming and the NEW Spring Catalog Premiere, I am too excited to be winding down my business yet.  

For many of us, our direct sales business has been changing from home parties to parties dominated by social media.  From Facebook Live to Zoom parties to 31 minute parties to texting parties…. the home party has gone away for many.  I came across a blog by JulieAnne Jones which made me giggle. She starts off with:

I know, I know, your home party plan merchandise sells itself. I’ve heard that a million times from my direct sales clients and friends and I believe it…to a point.

So why does it make me giggle? Because I have said it a million times to potential hostesses when we are talking about booking a “shopping experience”.  Admit it, you have too. We know the “face to face” parties are where things really happen, right?  When people are having fun and you are providing them with solutions to every day problems, they will shop.  Believe it or not, there are ways to provide the same personalized shopping experience on social media but it is for a different blog post…

None of us want to be the pushy sales person BUT you need to be using some sales techniques or you are going to leave money on the table. Okay, maybe not literally but you will miss out on the opportunities in front of you…..

So here are some tips on how to maximize your sales at the end of your home party or at your social media base party.

1. A Wish List. This is a great way for your guests to keep track of the items they like and helps with checkout. Getting customers to tell you what their favorite products are or what is on their wish list is a great way to help them with the best deals when placing an order, hosting a party or joining your team.  I am going to create a google form for my online parties to not only be able to gather information on the guests but to ask for their “wish list” offering a ticket to be drawn for all who complete the form.  A minimal cost but worth it in the end.

2. Shopping.  Help you guests with shopping whether in person or online.  I have been utilizing the Tag Team version of a Facebook party and my guests loved it.  No need to go to the website.  Be sure you include how to shop in at the end of your presentation or during your social media party.  Make it easy for them.  Be sure to talk about customer specials, shipping times, etc.. This seems like a no-brainer but the truth is sometimes we forget something.

3. Provide a Nordstrom, not a Wal-Mart experience for your guests.  Honestly, this is my favorite thing to do.  Spending one on one time with guests.  I will help them find the best deals so they get the most value for their dollar.  Dedicated time to each customer to answer their questions and help them with choices will increase sales and build relationships which will lead to future bookings and sales.  I have been known to spend 45 minutes on the phone with a customer sending sample shots to them just to ensure they receive exactly what they are looking for in a product.

4. Add-on Products. Solution sets have always been a part of Thirty One’s party experience (as well as many other direct selling businesses) A core product teamed with two other products.  Asking guests if they want the monthly special is easy and usually a welcome reminder according to party guests. Your job is to know your merchandise and catalog so well you can suggest add-on products based on what your customers like (upsell).  A high percentage of people will say yes to relevant suggestions, increasing your bottom line.

So, which one of these tips are YOU going to implement to increase your sales for the rest of the holiday season? Better yet, what is YOUR best tip for increasing sales? Share with us…

Have a ThirtyOne-derful day!

Will This Matter A Year From Now?

Yup, it is Monday morning.  Even worse is the fact for some it is after a LONG 4-day holiday weekend filled with food, family & friends and lots of shopping.  Time to get back to work as we start to juggle the holidays with work.

Black Friday has passed.  Small Business Saturday is done.  Cyber Monday is in full swing.  But the question I have for you this morning is…

Will This Matter A Year From Now?

The countless hours spent rushing around for gifts?  The baking? The decorating?  The non-stop whirlwind of activity?  Some would say yes because despite the craziness, they are enjoying the moments.  For others, you are so busy racing around, you don’t even remember the moments.

Life is constantly changing…. just when you think you got what you were looking for, doubt starts to creep in.  Maybe this year you have more money (or less) for gifts.  Maybe you are working countless hours missing out on time with family and friends.  Maybe you have lost who you are as you spend time pleasing the rest of the world.

If you answer to the question above is a resounding NO!  Then “let it go”…. (here the music for Frozen playing in the background)

Why do we spend time worrying about things we can’t control or fighting for things which don’t deserve our energy?

Did holiday celebrations with family trigger a button inside?  You know the one of self-doubt, fear, or anger.  Did the inner gremlins rear their heads because you allowed someone to push your button? Now you are spending your time on things which are insignificant in the big picture of things…

Maybe it was fussing with a rude store clerk during holiday shopping, or making a point with a trouble-making co-worker, or nitpicking over every mistake your child might make. The reality is some things simply are not worth it.

Fighting every battle leaves you little energy for the ones which really matter. In the process, you can damage relationships and stress yourself out. When you are intentional about which battles to engage in, you are more effective in resolving those challenges. After all, if you let go of the small stuff, it becomes clear the battles you choose are important. As a result, the people in your life or more likely to take notice and listen.

As we head into what is probably the craziest time of the year, I challenge you to let go of at least one battle this week. Enjoy the drop in your stress level.

What battle(s) did you engage in over the long weekend? Will it matter a year from now?  If it won’t matter a year from now, are you willing to drop similar battles when they arise?

Have a ThirtyOne-derful day!

How to Stop Impulse Shopping

As I was cleaning out closets for the church rummage sale, I wondered why I had some things.  Shirts never worn, “stuff” on shelves which became dust collectors, things in boxes never used… what made me buy them?

During my early years in recovery, shopping was a replacement to my addiction.  It was something I did to fill the void.  Yes, we all like nice things but when did our wants become our needs or at least in our own heads.  I am more apt to imps shop during the holiday season.  Buying things for others and those sales!  This holiday season, I am determined to stay in control of my impulse shopping…

Have you ever thought about why you shop impulsively?

For many, impulse shopping or buying items we don’t need is usually a way to meet certain emotional needs.  We spend money in the hopes what we purchase will make us more confident, presentable or happy. Basically, we try to put ourselves in a better mood by buying things we don’t need. “Retail Therapy” as it has become known may help for a little while then it may turn into buyer’s remorse.

We say “If I could just get X, then Y will be all right.”  And for the moment, maybe we feel better.  Today’s marketing campaigns help to reinforce those internal insecurities which draws us to buy impulsively.  Did you know almost 90 percent of the items we buy impulsively are usually on sale?  We are easily seduced by the notion of paying less for things, coupled with the fear of missing out on the window of opportunity during the sales period which results in unnecessary spending.

How can we tell if our impulsive shopping is out of control?

Do you have credit card debt?  Do you wonder what you actually charged on the many credit cards you have?  Impulse shopping wrecks havoc on our budgets and can put us in a serious financial situation.  I don’t mean those small impulsive purchases, it’s those bigger high ticket items we buy with our credit cards which cause our debt to quickly spiral out of control.

Here are some signs you may be a compulsive shopper:

  1. Are you unable to afford basic items because you spent all your money on high-ticket purchases like clothes?
  2. Are you arguing with the people in your life because they don’t approve of your spending habits?
  3. Do you feel a certain high, a sort of euphoria every time you buy something nice?
  4. Are you lying to your family members or friends about the cost of some of your possession because you think they would see it as a waste of money?
  5. Are you sneaking purchased items into the house to put them away when no one is looking?

Impulse shopping is a form of addiction, so if you answer “yes” to one or more of these questions, you might be an impulsive shopper.

What can you do to curb your tendency to shop impulsively?

Like other addictions, food and drugs, for some it will be easy to kick.  While for others there may be struggles along the way.  The key to success for those who want to curb their impulsive shopping tendencies is willpower and dedication.

First, avoid using credit cards, instead use cash for all purchases. I know it will be tough.  I struggle with this.  I am a debit card girl and seldom have cash in my wallet.  I broke the habit of carrying credit cards in my wallet which has helped tremendously.  Face it, is is easier charging a $100 purchase on a credit card than handing over a  $100 cash for something.

Next, if it is a BIG purchase – sleep on it or leave the item in the cart when shopping online.  When you feel the impulse to buy, train yourself to WAIT.  If you are in a store, go home and sleep on it.  If you are online, leave it in the cart and close the tab.  Then see if you still have the desire to purchase it in a day or two.  Chances are the answer it NO!

This is a big one…create a budget to help you monitor spending.  This will help you  appreciate the effect of every potentially impulsive purchase you want to make.

Lastly, being accountable to someone will definitely help. “The Someone” could be your better half, a friend, or a family member,   When we are accountable by sharing our receipts with others, they might be the nudge you need to be more responsible in your shopping.

What are your best tips for managing the urge to impulse shop?

Have a ThirtyOne-derful day!

 

Black Friday Madness

Holiday Shoppers Seek Out Deals On Black Friday

MORNING!  Many of you may be seeing this post late in the day because you are part of the CRAZINESS called Black Friday.  As I sit here snuggled at home enjoying the girls, I can’t help but think of past Black Friday mornings…

angry-kid

Black Friday has an array of memories….

The years Belinda and I camped out at Walmart to do holiday shopping for my best friend’s kids.  She couldn’t get there so we did the shopping and put it on layaway for her.  It was a game for us while others were getting crazy knocking each other over for what they thought was a GREAT deal.

Then there was the year the call came my Mom was in an accident on her way to work and was in the trauma unit at ACMC.  She was hit head on by someone headed to a Black Friday sale at Best Buy AND she was on her cell phone.  Our lives changed that day for several months as mom healed and we all thanked God he kept her safe.

The years Belinda came home from college and we headed out for “kid and me” time.  Not crazy early but just a day to see what deals we could find after the crazies headed home.

Then there was the year of late night shopping with the girls. It was fun scouring the shelves for great deals.  Trimming the Christmas tree like we did when Belinda was little on Thanksgiving weekend topped the events while we shared stories related to each of the holiday ornaments.

Memories of happy time and sad times but all are ones that I will cherish.  How are you spending YOUR Black Friday?  Shopping?  Resting? Working?  Visiting with family?  Share your favorite memories with us.

Have a ThirtyOne-derful day!