If you do a little reality check, chances are that you too are buying many things on impulse without even needing them. It's very possible that if your partner complains, your closet is full, and your credit card is being charged more than it should, you too buy on impulse.
Impulse spending can create problems and can lead you to a downward financial spiral that will stop you from buying things you really need. If you don't get impulse spending under control, you are stopping yourself from buying important things like a house, a car, or even from setting a retirement fund.
Impulse spending can also put strain on your relationships, especially if your partner's financial goals are being put on hold because of your spending habits.
Your first step in rehabilitation is to set some goals - realistic goals that you would like to reach but cannot afford because of your situation. You need to separate your needs from your wants, and learn how to shop only for your needs.
Advertising is fired at us from every angle, day in and day out, If you find yourself watching an advert on TV and rushing out to buy the item, whether you really need it or not, you need to introduce a cooling-off period. Even if something sounds like a great deal you can't beat, wait a little while and think it over before you rush out to buy it. Nine times out of ten, you'll figure out that you don't need it - and save the money you would have spent.
Never shop without a list - and stick to it. Take only enough cash to buy what's on the list, and leave your credit cards at home. Or, ask your bank to lower limits on your cards, so that you can't borrow more than you can pay back. If you see something you think you need, give it a week, and if at the end of the week you still feel like you need it, maybe you really do.
Sales are dangerous for impulse spenders, as the lower prices tend to lead to purchases you would not have made if the items were at full price. Even in these cases, you should seriously wonder whether you need the item or if you just want it. Even if you save $10 by buying something on sale, you can save more if you don't buy it at all.
Get into the habit of checking yourself when you make a purchase, shop according to a list of needs, not wants, and the savings will add up. You will finally realize the worth of your effort when you are on your vacation or when you are buying the car you wanted for so long.
Impulse spending can create problems and can lead you to a downward financial spiral that will stop you from buying things you really need. If you don't get impulse spending under control, you are stopping yourself from buying important things like a house, a car, or even from setting a retirement fund.
Impulse spending can also put strain on your relationships, especially if your partner's financial goals are being put on hold because of your spending habits.
Your first step in rehabilitation is to set some goals - realistic goals that you would like to reach but cannot afford because of your situation. You need to separate your needs from your wants, and learn how to shop only for your needs.
Advertising is fired at us from every angle, day in and day out, If you find yourself watching an advert on TV and rushing out to buy the item, whether you really need it or not, you need to introduce a cooling-off period. Even if something sounds like a great deal you can't beat, wait a little while and think it over before you rush out to buy it. Nine times out of ten, you'll figure out that you don't need it - and save the money you would have spent.
Never shop without a list - and stick to it. Take only enough cash to buy what's on the list, and leave your credit cards at home. Or, ask your bank to lower limits on your cards, so that you can't borrow more than you can pay back. If you see something you think you need, give it a week, and if at the end of the week you still feel like you need it, maybe you really do.
Sales are dangerous for impulse spenders, as the lower prices tend to lead to purchases you would not have made if the items were at full price. Even in these cases, you should seriously wonder whether you need the item or if you just want it. Even if you save $10 by buying something on sale, you can save more if you don't buy it at all.
Get into the habit of checking yourself when you make a purchase, shop according to a list of needs, not wants, and the savings will add up. You will finally realize the worth of your effort when you are on your vacation or when you are buying the car you wanted for so long.
No comments:
Post a Comment