Avoiding Impulse Purchases

 

Answer the following questions honestly :

1.) Does your spouse or partner complain that you overspend?

2.) Are you surprised each month by how much more you charged than you thought you had when you receive your credit card bill?

3.) Do you have more shoes and clothes in your closet than you know what to do with?

4.) Do you buy every new gadget before it collects dust on a store shelf?

5.) Do you buy things you didn't realize you wanted until you saw them on a store shelf?

If you answered "yes" to any two of the earlier questions, you are an impulse spender who likes retail therapy.

This is not a happy position. It will prevent you from saving for big purchases such as a new house, a new car, a vacation, or retirement. Set some savings objectives and resist spending cash on purchases that don't really matter inside the long run.

Impulse spending will stretch not just to your finances and also your relationships. To resolve the issue, the first step is to learn to differentiate between your needs as well as your needs and wants.

Advertisers overwhelm you all with their products 24 hours per day and, 7 days a week. The trick is to give yourself a cooling-off period before purchasing anything unexpected.

Make a list and only bring enough cash to pay for what you intend to purchase while you're shopping. You must leave your credit cards at home.

If you see something you think you need, give yourself Two Weeks to decide whether it is completely necessary or something you can live without. You will mend your financial fences and your relationships unless you follow this simple solution.