Why The Money Objection Is Probably a Lie
If you were to dive into the finances of the average person, what you will find are a lot of expenses and very little savings. Most people will only save what is left over after paying taxes, living expenses, and entertainment. You don’t want to be part of this crowd. As a business owner, you must prepare for your future first and then pay your expenses out of what’s left.
For the purpose of this article though I want to review some common expenses that most people have ( I understand if you don’t have all of them ). On average these are the numbers that we see across the board in the US, conservatively.
Eating out – over $200 (Soft drinks – over $70)
Food includes the coffees and lunches we indulge in at work. It includes quick dinners at fast food restaurants. This is not referring to regular groceries. This number can get easily get up to $235 and more per month.
Clothes – over $55
Shoes – over $30 (for women)
Apparel includes under garments, jewelry, accessories and other random purchases. For the other purchases this figure goes to over $145 per month.
Tobacco – over $25
Alcohol – over $35
Vices includes all compulsive and obsessive purchases. They usually include tobacco, alcohol, drugs ( it’s your life ), shop-aholic, over-eating, excessive purchasing of any thing. This number can shoot through the roof but on average is around $65 per month.
Entertainment – over $200
Entertainment is that category that we really have to pay attention to. We probably deserve the occasional distraction. It’s good for stimulating the brain and thinking. However, we don’t need to have extremely high cable bills to account for our lack of commitment to anything meaningful in our own lives. This number includes dates, movie rentals, and that cable bill. Conservatively, this number hovers around $225 plus per month.
That’s a total of close to $600 per month that most people are spending in these four areas alone. Taking a fraction of that number and invesing it towards your financil freedom or, at least, your debt freedom is the logical decision when you look at the numbers on paper, doesn’t it?
So, how does all of this help you with overcoming the money objection? Let me explain…
You now have the ammo and defenses to overcome the money objection. Don’t let people tell you they don’t have the money. When you include these figures into your presentation and your product or service is less than $600 then you will effectively eliminate this thought from your prospects mind.
Use this technique sharing your plan or afterward in the closing portion of your presentation. Then, let me know it’s working for you. I’d like to hear how effective it is for you.
For more insane expenses check out this article:
“20 ways Americans are blowing their money” by Katherine Muniz, The Motley Fool
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