Answer these questions truthfully:

  1. Does your spouse or partner complain that you spend overmuch money?
  2. Are you surprised every month when your charge card bill attains how much more you charged than you thought you had?
  3. Do you’ve more shoes and clothes in your closet than you coulded wear?
  4. Do you own every new gadget before it’s 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’re an impulse spender and indulge yourself in retail therapy. This isn’t a good thing. It will prevent you from saving for the important things like a house, afresh car, a vacation or retirement. You must set some financial goals and resist pocket money on items that really don’t matter in the long-term.

Impulse spending won’t only put a strain on your finances but your relationships, likewise. To overcome the problem, the first thing to do is learn to separate your needs from your wants. Advertisers blitz us hawking their products at us 24/7. The trick is to give yourself a cooling-off period before you buy anything that you have got  planned for.

When you go shopping, make a list and take only enough cash to invite what you’ve planned to buy. Leave your credit card at home. If you see something you think you really need, give yourself two a long time to decide if it’s really something you need or something you will be able to easily do without. By following this simple solution, you’ll mend your financial fences and your relationships. 

 

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