Answer these questions truthfully:
- Does your spouse or partner complain that you spend too much money?
- Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?
- Do you have more shoes and clothes in your closet than you could ever possibly wear?
- Do you own every new gadget before it has time to collect dust on a retailer’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 any two of the above questions, you are an impulse spender and indulge yourself in retail therapy.
The best way to achieve any financial goals is by saving money. But how do you resist the temptation of spending your hard-earned cash on items that don’t matter in the long run? It’s not easy, but it can be done through a plan called “cash only.” This means sticking with what you have and never overspending even when tempted at an exciting shopping mall or other costly location.
Impulse spending will not only put a strain on your finances but also harm the relationships you have with those around you. In order to overcome this problem, it is important for one to learn how to separate needs from wants and find ways of satisfying both desires in equal measure.
Advertisers can’t seem to stop trying to sell us their products. Unless we take a break before making any purchases, they’ll have won and are sure to continue pushing new goods at us day in and day out.
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.
Live a mindful life and give yourself the space to really decide if you want something or not.
“If _____, then do this.” A simple solution can often be put in the form of an “if-then statement,” but it’s up to you how that sentence is phrased. With these tips on hand, your decision will come much easier!
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