Money - Are You Making Money To Spend Friviously?
Posted by: Tina T Willer in Internet, tags: InternetDo you make money and spend it quickly? Take this very short quiz here to see if you are an impulse spender. Please answer these questions truthfully:
1.) Do you live from paycheck to paycheck?
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 electronics you use infrequently?
5.) Do you buy things just because they are on sale?
If you answered “yes” to any two of the above questions, you are an impulse spender. It would be wise to indulge yourself in retail therapy. This sounds like a joke, but impulse spending is a terrible habit, and can be hard to break. Many times we impulse spend, unfortunately, without knowing it.
Spending impulsively can prevent you from saving for the important things like a house, a new car, a vacation or retirement. You must set some financial goals and resist spending money on items that really don’t matter in the long run.
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.
Even though we are not to blame for becoming impulse spenders, we must take control of curing ourselves. I cannot stress enough how important it is to take a long pause before buying a “luxury item”.
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.
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