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Money - Do You Earn Money To Spend Impulsively?
When you are making money, does it slip through your fingers almost as quickly as you make it? Do you buy things on sale even when you don't need them? See just how impulsive you are. Be truthful:
1.) Do you have credit card debt, for purchases you could have done without?
2.) Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?
3.) Is your closet jammed with clothes you don't wear or wear infrequently?
4.) Is you home or apartment cluttered, with items you rarely use?
5.) Do you have jewelry or other body ornaments that are collecting dust?
Even one "yes" answer to the above questions qualifies you as an impulsive purchaser. Find a way to not be so quick to spend money on unnecessary items. This is very important. You are wasting much of your hard earned money, and not being efficient with it.
Spending impulsively can prevent you from saving for the important things like a house, a new car, a vacation or retirement. You must 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 overcome the problem, the first thing to do is learn to separate your needs from your wants. One "want", we splurged on for the children was a popular Nintendo game set. However, this was only after our monthly needs and savings had been satisfied.
Even though we are not to blame for becoming impulse spenders, we must take control of curing ourselves. I cannot stress enough how important it is to take a long pause before buying a "luxury item".
Becoming an all cash buyer could help you tremendously. We tend to spend less when we are spending cash. Become methodical with your spending. Account for every dollar. Once you have cultivated better habits for your spending, you can go back to using credit cards, if you want to. It takes at lease 30 days to change a habit.
You need longer than a few minutes of thought, for expensive purchases. Have someone to talk to about these, like a spouse or significant other. Take all these suggestions above, and use them, and I assure you, your relationships and your wallet will thank you.
About the Author Tina T Willer,MBA has authored Personal Finance Ebooks. Her advice aids hundreds of people, in becoming more financially sound. Receive, Because You Deserve It, your FREE and Valuable YOUR MONEY, Personal Finance Newsletter.
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