Money - Do You Make Money To Spend Unnecessarily?

submitted: Sep 6th 2008 | by: TinaTWiller | Total views: 1 | Word Count: 386 | PDF View | Print Article

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.) 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?

Even one "yes" answer to the above questions qualifies you as an impulsive purchaser. Find a way to not be so quick to spend money on unnecessary items. This is very important. You are wasting much of your hard earned money, and not being efficient with 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.

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. One "want", we splurged on for the children was a popular Nintendo game set. However, this was only after our monthly needs and savings had been satisfied.

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.

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.

Take it from one who know firsthand, impulsive spending is not good. It can easily destroy your finances, if you allow it to. It can be a terrible addiction, like sugar or food, and just like a food or sugar addiction, it can be cured, with some amount of smart work. Please don't take your impulsive spending lightly. Put together a plan, TODAY, to stop it. Both your wallet and your relationships will thank you for it.

About the Author

Tina T Willer,MBA has authored Personal Finance Ebooks. Her advice aids hundreds of people, in becoming more financially fit. Receive, Because You Deserve It, your FREE and Useful YOUR MONEY, Personal Finance Newsletter.


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