For a few weeks now I have been watching an ANZ bank ad on television, and questioning it.

You know the one with the young woman and the bubbles above her head… which say ” I deserve a little splurge”, “I’ll buy myself an early birthday present” “It won’t be on sale for ever” and “I’ve had a couple of hard weeks”.This is a link to the web version. https://comms.anz.co.nz/serioussaver.html?pid=mkt-pbr-ad-hp-jan12-serioussaver

This bit I really get. I used to use variations of each and every one of those statements, as justifications for my overspending and putting more “stuff” on my credit cards.¬† I knew a whole lot more I can tell you. So too do my clients now, those who are overspenders and/or chronic debtors! They know these excuses and variations of them eg. “I should be getting a bonus next month” ” I need this as I haven’t got anything to wear to Jo’s party, Sue’s wedding…” or whatever.

They are all examples of justifications or excuses for spending money when, on some level, we know that we shouldn’t, we know we can’t afford to and/or we know that other people probably wouldn’t be doing it if they were in the same place as us, financially that is.

The bit I don’t get is, that the person using those excuses would be drawn away from their overspending habits, by a savings account with a good interest rate and some other positive benefits.

Maybe some would see the error of their ways and start saving instead of spending, but I know I wouldn’t have¬† and nor would most of my clients. The reality is, that if you are an overspender or chronic debtor and using those justifications for your spending, in almost all cases you are struggling to pay your bills and debts and there is little money left over to save, if any.

The ANZ ad says ‘Saying no to temptation has never been so satisfying”. They may well be right; saving instead of spending is very satisfying. I just need a lot more convincing that the young woman in the ad, if she is using all those excuses for her spending, will be tempted by the prospect of saving and earning “up to” 4.5% interest. Taken altogether, those excuses spell to me a problem with overspending, which is not insignificant and requires some expert assistance.

I would be interested to hear your comments.

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