Cindy’s Other Blog

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 have credit card debt, for purchases you could have done without?

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.) Is you home or apartment cluttered, with items you rarely use?

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.

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.

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.

Advertisers blitz us hawking their products at us 24/7. Again, one trick is to give yourself a cooling-off period before you buy anything that you have not planned for.

Cut up your credit cards if this will deter you from impulse spending. You can always get them back after you have cured yourself of this habit. Always make a list and check it twice when you are going shopping.

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.