Avoid impulse buying

>> Saturday, October 16, 2010

Answer these questions honestly:

1) What is your spouse or partner complain that you spend too much money.?

2.) Are you surprised each month when your credit card bill comes to how much you pay more than you thought?

3.) Do you have more shoes and clothes in your closet than you can possibly bear?

4.) Got any new gadget before it has time to collect dust on the shelf of a retailer?

5.) Do you buy things you never knew you wanted that you see on the screen in a store?

If you answered yes to both questions above, you are an impulse spender and indulge yourself in retail therapy.

This is not a good thing. This prevents you from saving for important things like a house, a new car, holiday or retirement. You have financial goals and resist spending money on items that really does not matter in the long term.

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.

Advertisers blitz us hawking their products at us 24 / 7. The trick is to give you a cooling off period before purchasing anything that you do not plan for.

When shopping, make a list and take only enough money to pay for what you intend to buy. Leave your credit cards at home.

If you see something you think you really need to get your two weeks to decide if it's really something you need or something you can easily do without. By this simple solution, you recover your financial fences and your relationships.


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