How to Avoid Impulse Spending
Both men and women are guilty of this form of spending, but there exist ways to avoid impulse spending.
Whatever you end up buying without planning for it, it usually leads to overspending.
Thank goodness, with a bit of thought and foresight, you can keep this sort of buying in check, at least as best as you can.
In your responses, please be honest.
- Does your boyfriend or spouse criticize you for your excessive spending?
- Do you ever get shocked when your credit card account shows that you charged a lot more than you anticipated?
- Do you have more clothing and shoes in your closet than you could ever wear?
- Do you buy every new technology before it has a chance to gather dust on a store shelf?
- Do you buy items that you only discovered you desired after seeing them on display in a store?
If “yes” was your response to any two of the above inquiries, you are an impulse shopper who engages in retail therapy.
Are you guilty of spending this way?
That’s not good at all. It will stop you from setting money aside for significant purchases like a home, a new car, a vacation, or retirement. To avoid wasting money on things that won’t be important in the long term, you must establish some financial goals.
Impulsive spending will hurt your relationships as well as your finances. Learning to distinguish between necessities and wants is the first step toward solving the issue.
We are all the time assaulted by advertisers. Giving yourself a chance to change your mind before making an unplanned buy is the key.
Make a list before you go shopping, and only take the amount of money necessary to cover your planned purchases. Leave your credit cards at home.
Give yourself two weeks to assess if you need anything after seeing something you think you might need, or if you could live without it. You can heal your financial relationships and relationships with others by employing this straightforward technique.