Stopping Impulse Spending

Respond to these questions honestly:

1.) Does your spouse or companion complain that you spend too much cash?

2.) Are you surprised every month when your credit card bill arrives at how much more you spent than you thought you had?

3.) Do you have a lot more shoes or boots and clothes inside your dresser than you could ever possibly wear?

4.) Do you purchase every new gadget before it has time to collect airborne dirt and dust on a retailer's shelf?

5.) Do you purchase things you didn't know you desired until you saw them on display in a shop?

If you answered "yes" to any 2 of the above questions, you are an impulse spender and indulge yourself in retail therapy.

This isn't a very good thing. It will prevent you from saving for the necessary things like a home, a new vehicle, a vacation or retirement. You should set some monetary targets and resist spending cash on gadgets that actually don't matter in the long run.

Impulse spending would not only put a strain on your finances but your very own relationships, too. To overcome the problem, the very first thing to do is learn to separate your needs from your desires.

Advertisers blitz us hawking their goods at us 24/7. The trick is to give yourself a cooling-off period before you purchase something that you haven't planned for.

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

When you see something you feel you really want, give yourself two weeks to determine if it is actually something you need or something you can conveniently do without. By following this simple solution, you'll mend your monetary fences and your very own relationships.

The only other course open to an impulse spender is to make more cash than you can probably spend. Try buying a shell corporation or do a reverse merger in order to raise capital.

But of course I jest. But I hope you get my point. Spend within your means or earn a large sum of money, hopefully a lot more than you can spend.

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