How To Avoid Impulse Spending
Answer these questions. Be Honest, this is for your benefit:
1.) Does anyone in your life complain that you spend too much money?
2.) Are you surprised when your credit card bill shows up at how much more you spent than you thought you had?
3.) Do you have more shoes and clothes in your closet than you could wear in months?
4.) Do you buy every new gadget that comes out before it even has a chance to collect dust on a store’s shelf?
5.) Do you buy things you didn’t know you wanted until you saw them on display in a store?
If you answered “yes” to any two of these questions, you are an impulse spender. You have been practicing “retail therapy”.
This is not good for you life. You will never be able ti save for the important things like a house, a new car, a vacation or retirement. You really need to set some financial goals and make some plans while you can.
You must learn to resist spending money (make that, racking up credit card debt) on items that you can really life without until you can really afford them. That means after you have savings, your car is paid off, you got through college, you own you home.
Impulse spending will put a strain on your finances and on your relationships. To overcome the problem, the first thing to do is learn to separate your needs from your wants. Buy only things you really need until you dry out from compulsive spending.
You may need to learn new things to do with your time. New activities that replace the emotional satisfaction of retail therapy.
Advertisers blitz us hawking their products at us 24/7. The trick is to give yourself a cooling-off period before you buy anything that you have not planned for.
When you go shopping, have a list with you and bring only enough cash to pay for what you planned to buy. Do not bring any credit cards, especially when going to your favorite stores. Remember you are building a better future with more options and improving your relationships.
If you see something you think you really need, give yourself time to think if it is really something you need or something you just want. Now you will begin to improve your financial life and your relationships.
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