Avoiding Impulse Spending

Please answer these questions truthfully:

1.) Does your spouse or partner complain because you are throwing away too much cash?

2.) Are you surprised each month when your see your credit card bill at how much more you charged than you did believe?

3.) Do you have more shoes and clothes in your closet than it is possible to wear it all?

4.) Do you buy every new gadget before it has time to collect dust on a retailer’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 the above questions, you are an impulse spender and should do a retail therapy.

This is not a healthy thing. It will prevent you from saving for bigger things like a house, a new car, a vacation or retirement. You better set some financial goals and resist spending money on items that really don’t matter in the long run.

Impulse spending will not only put a strain on your finances but your relationships, as well. To solve the problem, the primary thing to do is learn to separate your needs from your wants.

Advertisers blitz us hawking their products at us 24/7. A great advice is to give yourself a cooling-off period before you order anything that you have not planned for.

When you want to go shopping, prepare a list and take only enough cash to pay for what you have planned to buy. Don't take your credit cards with you.

If you discover something you think you really want, give yourself two weeks to decide if it is really something you need or something you can easily get by without. By understanding this easy solution, you will keep your finances in order and your relationships, too.