How to Control Your Desire to Spend
The 6th goal on HelpSaveMyDollars.com’s “Financial Goal Week of 2010” is one that if achieved, will dramatically improve your entire financial situation. The biggest problem people have with their money is the fact that they spend too much. If you wrote down everything you had purchased in one month, whether it be a tangible item or a service, you would probably be shocked at how many things you buy! We all want to buy things and have the newest computer or cell phone and be able to go out to restaurants. The fact is, there are some simple ways to control impulse spending and HelpSaveMyDollars.com explains those ways below:
1. Do I Need To Buy This? – This is the question you must ask yourself every time you feel inclined to purchase something. When you’re in the store and you’ve just added another item into your shopping cart, ask yourself this question – make sure it is before you arrive at the register to pay for the item. Even if it is an item that you’ve always wanted and even if the item is inexpensive, if you ask yourself, “Do I need to buy this”, chances are the answer is no. Having the ability to stop yourself in the store from adding items that you don’t need to your shopping cart will save you tons of money and it will make you a more educated and informed shopper.
2. Know What You Need – We even spend money on items we don’t need in the grocery store! If you’re going to the grocery store because you ran out of milk or because you need to prepare a meal, then of course you’re going to buy those items, which are necessities. However, in the grocery store, we tend to get distracted by the other items – items that we don’t need. In other words, make a list before going to the grocery store and once you’re at the store, only buy what’s on that list – nothing else.
Impulse spending will take time to control. If you can control your spending, there’s a high probability that you won’t get into credit card debt – let that be your incentive. No impulse spending, no credit card debt – that sounds great, because who wants to be in credit card debt?
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