Money - Do You Earn Money To Spend Impulsively?

by Tina T Willer

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 live from paycheck to paycheck?

2.) Do you run out of money before you next paycheck?

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.

Always put away a portion of your check into savings. Budgeting and setting money goals will help tremendously. Set a limit and budget on how much you will spend monthly on necessities, such as food, transportation and shelter and luxuries, such as another pair of black dress shoes.

Spending your money unnecessarily could hurt your family also. The money will not be there when a family crisis arises, that you could help financially with. Remember, necessities always first, then savings, then luxuries (very sparingly).

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.

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.

About the Author:

Tina Willer,MBA has authored Personal Finance Ebooks. Her advice aids hundreds of people, from all walks of life, in becoming more financially fit. Claim your FREE and Valuable YOUR MONEY, Personal Finance Newsletter.

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