Ways to Avoid Impulse Spending

Can you answer yes to any of the following questions?

Does your spouse complain that you spend too much money?

Are you unpleasantly surprised each month when your credit card bill arrives?

Do you have more shoes and clothes in your closet than you could ever possibly wear?

Do you have to buy every new gadget before it even has time to collect dust on the store's shelf?

Do you buy things you didn’t know you wanted until you saw them on display in a store?

If you answered yes to two or more of the above questions, you may be an impulse spender.

This could be very dangerous for your financial health. It will prevent you from saving for important things like a house, a new car, a vacation or retirement. You need to set some financial goals and resist spending money on items that aren't really very important.

Impulse spending will put a strain on your finances and damage your relationships and family life. To overcome this problem, you need to learn how to separate your needs from your wants.

Advertisers bombard us with enticing ads throughout the day that are designed to play with our emotions and separate us from our hard earned cash. It's important to give yourself time to relax and reconsider before you buy anything that isn't in your household budget.

Another helpful suggestion is to make a list before you go to the market and take only enough cash to pay for what is on your list. Leaving your credit cards at home can help you avoid unplanned purchases.

If you see something you think you really need, try giving yourself two weeks to decide if it is really that important. Distracting yourself with other enjoyable or relaxing activities can also help you to avoid buying unnecessary items on impulse.

Avoiding impulse spending can be a lifelong challenge, but developing a few useful habits can make this struggle much easier and result in greater financial security and more harmonious relationships with others.