Money - Do You Make Money To Spend Unnecessarily?
Published on August 20th, 2008 by Tina T Willer in 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.) Does your spouse or partner complain that you spend too much money?
2.) Do you carry a month-to-month balance on your credit cards?
3.) Do you have shoes in your closet, over 6 months old, that you have only worn once or twice?
4.) Do you own every new gadget before it has time to collect dust on a retailer’s shelf?
5.) Do you have jewelry or other body ornaments that are collecting dust?
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.
The larger items in life, are important to save for, and spending unnecessarily will cause you to always be in debt. When it is time to make large purchases, you will not have the money or enough down payment for them. Monthly budgeting can help you avoid impulse spending.
You are not the only one who gets hurt when you impulse spend. Your family could get hurt too, with your unwise spending habits. Your friends could get annoyed with you not having money for entertainment with them, because you bought another pair of jeans to add to your collection.
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.
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.
Take it from one who know firsthand, impulsive spending is not good. It can easily destroy your finances, if you allow it to. It can be a terrible addiction, like sugar or food, and just like a food or sugar addiction, it can be cured, with some amount of smart work. Please don’t take your impulsive spending lightly. Put together a plan, TODAY, to stop it. Both your wallet and your relationships will thank you for it.
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