Hi dear readers and welcome to Ayomikun Abraham’s Blog. We will be discussing on how to avoid impulse spending, or impulse buying in the simplest way.
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.
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 don’t matter in the long run. Learn the 7 Steps to Become Financially Free And Live a Good Life.
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.
How to Avoid Impulse Spending in 2022 (Easy Methods)
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 not planned for.
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.
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.
Explained above is the simplest method to avoid impulse spending and live a financially balanced life.
What’s your thought on this discussion? Do you suggest more ways to avoid impulse spending? Let us know them in the comment section.