“Cold Turkey” Financial Cutback Program
Many of you may have heard about the word “Cold Turkey”. Basically this method is for highly addicted people of alcohol, drugs and tobacco. Cold Turkey Financial Cut Back program is for people who become addicted to the hyper concumption.
This program is for those people who become addicted to the bad spending habits. In such cases, the Financial planner actually takes control of his client’s all the bank accounts and purchasing behaviour.
He tabulates and categorize each and every spending element. He study all the categories very well and after that the client is put on “Cut Turkey” Financial cut back program. It means that all the elements of consumption are reduced by minimum of 15 percent for the next year or two.
In some severe cases, the financial planner even keeps his client’s checkbooks, writes all the checks and pays all the bills. Cold Turkey is veru difficult program but sometimes this is the only option.
Hyperconsumption is the modern world addiction. One of my friend consumes like smoking means every other day if he doesn’t go for shopping, he feels depressed and restlessness.
People only onsider Smoking and Alcoholism as an addiction. But in the modern world, hyperconsumer behaviour is also an addiction. And this behaviour directly affects your Financial Health.
The only key thing to keep yourself away from this trap is that, develop a habit from your childhood that, always do a shopping of the things that you really need and not you really want. If you can’t set this spending behaviour in your children since their childhood, it will be very difficult to control their bad spending behaviour when they grown up.
Many of you may have heard about the word “Cold Turkey”. Basically this method is for highly addicted people of alcohol, drugs and tobacco. Cold Turkey Financial Cut Back program is for people who become addicted to the hyper concumption.
This program is for those people who become addicted to the bad spending habits. In such cases, the Financial planner actually takes control of his client’s all the bank accounts and purchasing behaviour.
He tabulates and categorize each and every spending element. He study all the categories very well and after that the client is put on “Cut Turkey” Financial cut back program. It means that all the elements of consumption are reduced by minimum of 15 percent for the next year or two.
In some severe cases, the financial planner even keeps his client’s checkbooks, writes all the checks and pays all the bills. Cold Turkey is veru difficult program but sometimes this is the only option.
Hyperconsumption is the modern world addiction. One of my friend consumes like smoking means every other day if he doesn’t go for shopping, he feels depressed and restlessness.
People only onsider Smoking and Alcoholism as an addiction. But in the modern world, hyperconsumer behaviour is also an addiction. And this behaviour directly affects your Financial Health.
The only key thing to keep yourself away from this trap is that, develop a habit from your childhood that, always do a shopping of the things that you really need and not you really want. If you can’t set this spending behaviour in your children since their childhood, it will be very difficult to control their bad spending behaviour when they grown up.
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