Avoiding Impulse Spending

[JFrank]

Answer these questions truthfully:

1.) Does your spouse or partner complain that you spend too much money?

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.) 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?

If you answered “yes” to any two of the above questions, you are an impulse spender and indulge yourself in retail therapy.

[cschroder67]

i love it. never before have so many people spent so much money on things they do not want or need to impress people they dont know or dont like.

lol

[JFrank]

Thanks cschroder67! A money plan is called a budget and it is crucial to get us to our desired financial goals. Without a plan we will drift without direction and end up marooned on a distant financial reef.

A budget should never be a financial starvation diet. That won’t work for the long haul. Make reasonable allocations for food, clothing, shelter, utilities and insurance and set aside a reasonable amount for entertainment and the occasional luxury item. Savings should always come first before any spending.