August 07, 2016

82 Actionable Tip – Shiny Object Syndrome

15 minutes

This month’s theme is Money Management and you can get the free worksheet at AffirmationPod.com/MoneyManagement

Let's break down some different types of Shiny Object Syndrome.

There's Shiny Projects

Shiny Vacations

Shiny Books and Magazines

Shiny Shoes and Purses

Shiny Name Brands

Shiny Jewellry

Shiny Conferences

Shiny Restaurants

Shiny Cars and Watches

Shiny Houses and Neighborhoods

And even Shiny Spouses!

What's "shiny" is different for everyone.

My shiny object is high end kitchen appliances and supplies. For me, Williams-Sonoma is full of shiny objects!

For you it might be a particular breed of dog or a specific mountain bike or a certain vacation home in a certain spot.

Here's three things to remember next time you face a shiny object:

Compare

How does this shiny object compare to what I already have

Is there anything wrong with what you have right now?

Does it meet your needs?

Have you given it enough time to run it's course?

What makes the shiny object so intriguing?

Count

Count the cost of this shiny object

Count your expenses right now

Count the cost of making the transition and change

Count the pros and cons of keeping what you have

Count the pros and cons of getting the shiny object

Consider (Picture)

What will life be like with it in 6 months, 1 year, 2 years etc?

What will life be like financially with it in 6 months, 1 year, 2 years etc?

Can you afford it? Will it be a financial burden?

Is this similar to a purchase you've regretted buying in the past?

The sister episode to this one is Episode 81 Actionable Tip - Emotional Meaning of Money

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