Money – Are You Making Money To Spend Friviously?
When you earn money do you find yourself buying something you really don’t need on a whim? See if you are an impulse buyer below:
1.) Do you live from paycheck to paycheck?
2.) Do you carry a month-to-month balance on your credit cards?
3.) Do you have more shoes and clothes in your closet than you could ever possibly wear?
4.) Do you own every new gadget before it has time to collect dust on a retailer’s shelf?
5.) Do you buy things you didn’t know you wanted until you saw them on display in a store?
If you answered “yes” to any two of the above questions, you are an impulse spender. It would be wise to indulge yourself in retail therapy. This sounds like a joke, but impulse spending is a terrible habit, and can be hard to break. Many times we impulse spend, unfortunately, without knowing it.
The larger items in life, are important to save for, and spending unnecessarily will cause you to always be in debt. When it is time to make large purchases, you will not have the money or enough down payment for them. Monthly budgeting can help you avoid impulse spending.
You are not the only one who gets hurt when you impulse spend. Your family could get hurt too, with your unwise spending habits. Your friends could get annoyed with you not having money for entertainment with them, because you bought another pair of jeans to add to your collection.
We are not to blame for this habit we have acquired. Some messages are subliminal, and we are constantly being bombarded from every direction with ads telling and showing us how, where and what we should spend our money on to “keep up with society.” I cannot write this enough, always give yourself a minute or more to think about purchasing an unplanned item.
When you go shopping, make a list and take only enough cash to pay for what you have planned to buy. Leave your credit cards at home.
If you see something you think you really need, give yourself two weeks to decide if it is really something you need or something you can easily do without. By following this simple solution, you will mend your financial fences and your relationships.
Filed under: Sales