The on­line pur­chase prob­lem

Cosmopolitan (Philippines) - - You, You, You -

e’re all guilty of spend­ing money on things we don’t need. We know it’s wrong, but we do it any­way. We are smart enough to see through our own tricks when we splurge on a lux­ury— that’s how we know we can change these habits. But what about the things we waste money on that we don’t ac­knowl­edge— be­cause we don’t even know about them?

Last year, with the help of mil­len­nial ex­pert Joan Kuhl, South Africa Cos­mopoli­tan con­ducted a sur­vey of mil­len­ni­als. Part of the sur­vey’s fo­cus was spend­ing habits. Our find­ings showed that 78% of mil­len­ni­als sur­veyed are em­ployed, 96% have a bank ac­count, and 62% are ac­tively sav­ing money for a big pur­chase.

So when it comes to fi­nances, the study shows mil­len­ni­als are slick. Kuhl de­scribes these spend­ing habits as “emo­tional yet func­tional”—mil­len­ni­als have a good idea about what’s worth spend­ing on. Yet we are wast­ing money. We don’t mean to—it’s just an un­for­tu­nate side ef­fect of liv­ing with mil­len­nial val­ues in to­day’s econ­omy. For many of us, liv­ing a grat­i­fy­ing life car­ries as much weight as fi­nan­cial sta­bil­ity. Mil­len­ni­als in­vest in ex­pe­ri­ences, and that’s why we love to spend on travel. If you fly reg­u­larly, you know that you’ll pay more for flights dur­ing peak travel times—but did you know that the mere act of search­ing mul­ti­ple agen­cies for the cheap­est flights is in­creas­ing the cost? Lau­ren Juliff, au­thor, blog­ger, and stu­dent-travel ex­pert at Stu­dent­travel.about. com, says that many air­line travel web­sites use cook­ies to track your searches, and if you keep look­ing at the same

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.