13 Jul 2012

Spending money often involves self-deception

Just about everyone tries to save their money, but often the allure of spending can be too much to resist. Sometimes, buyers have to argue with themselves in order to make a purchase, and this can result in a bit of self-deception in order to open up the wallet. Moneysense recently named the top "lies we tell ourselves" when spending money in order to justify purchases.

One of the more common phrases people tell themselves is "it's an investment." For example, someone buying a new suit can say they're "investing" in their new job. Don't kid yourself, however – spending hundreds or even thousands of dollars on an outfit isn't necessary for even the most stodgy jobs.

The "once in a lifetime" purchases can be tempting as well. Often, this phrase is used when talking about big trips or vacations. While it can be tempting to drain the bank account and globetrot around the world, your financial well-being will thank you for turning these trips down. There's nothing wrong with traveling, but make sure you have the funds to do so comfortably and won't have to live off cheap food for months to make the trip a reality.

It's easy to spend money on items you don't really need, which can ultimately take up room in your home or apartment. One solution is to look into affordable Toronto self storage units. Unlike that $5,000 suit, these units actually are a smart investment that can ultimately give you more room in your home.

Jiffy Self Storage, a leader in Toronto storage solutions, is currently running a contest on their website for a free iPad 3. Visitors to the site simply need to match a few Canadian landmarks and they'll be entered to win the iPad or one of several other prizes.

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