Money - Do You Make Money To Spend Unnecessarily?
by: TinaTWiller |
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Do 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.) Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?
3.) Is your closet jammed with clothes you don't wear or wear infrequently?
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?
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.
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.
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.
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.
Becoming an all cash buyer could help you tremendously. We tend to spend less when we are spending cash. Become methodical with your spending. Account for every dollar. Once you have cultivated better habits for your spending, you can go back to using credit cards, if you want to. It takes at lease 30 days to change a habit.
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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About the Author
Tina T Willer,MBA has authored Personal Finance Ebooks. Her advice aids hundreds of people, from all walks of life, in becoming more financially fit. Claim your FREE and Useful YOUR MONEY, Personal Finance Newsletter.
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