How To Avoid Impulse Spending

November 11th, 2009 | Posted in Credit Card Debt

Answer the following questions as truthfully as you can:

1. Does your partner accuse you of being spendthrift?

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

3. Do you have more shoes and clothes in your closet than you could ever possibly wear?

4. Are your drawers brimming with gadgets and gathering dust?

5. Does the glitzy display of products in a store always gets the better of you?

6. Do you buy things that you do not intend using in near future?

7. Do you exercise keep-up-with-the-Joneses lifestyle?

If you answered in affirmative to any of two or more questions, you are suffering from impulse spending disorder.

This is not a good thing. It will 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 do not matter in the long run.

As an immediate step you need to control your shop till you drop tendency under severe check otherwise it is bound to impact adversely your relationships and even your future.

We just do not have any control over advertising campaigns of sellers. We can, however, control our tendency to get swayed by “Buy 1 Get 1″ offers.

A trimmed shopping list and slimmer purse can put you on the road to wealth building faster than you think. A momentary self-restraint is better than a life-time of regret.

No matter how savvy your control is on your purse strings, there will be occasions when you will have to pick up a product or service for convenience or comfort. During such times ask yourself the question, “Can’t I manage without it?

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