Money – Do You Earn Money To Spend Impulsively?

When you are making money, does it slip through your fingers almost as quickly as you make it? Do you buy things on sale even when you don’t need them? See just how impulsive you are. Be truthful:

1.) Do you live from paycheck to paycheck?

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

3.) Do you have shoes in your closet, over 6 months old, that you have only worn once or twice?

4.) Do you own electronics you use infrequently?

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).

We are not to blame for this habit we have acquired. Some messages are subliminal, and we are constantly being bombarded from every direction with ads telling and showing us how, where and what we should spend our money on to “keep up with society.” I cannot write this enough, always give yourself a minute or more to think about purchasing an unplanned item.

Cut up your credit cards if this will deter you from impulse spending. You can always get them back after you have cured yourself of this habit. Always make a list and check it twice when you are going shopping.

You need longer than a few minutes of thought, for expensive purchases. Have someone to talk to about these, like a spouse or significant other. Take all these suggestions above, and use them, and I assure you, your relationships and your wallet will thank you.