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 you are paying more than you thought you had?
3.) Do you have more shoes and clothes in your closet than you could ever wear?
4.) Do you own every new gadget before it has time to collect dust on the shelf of a retailer?
5.) Do you buy things you never knew you wanted until you saw them on display in a store?
If you answered "yes" to 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 a pension. You have a number of financial goals and resist spending money on things that really does not matter in the long term.
Impulse spending will not only put a strain on your finances but your relationships, as well. To solve 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 get yourself a cooling-off period before you buy something you have planned.
When you go shopping, make a list and take only enough money to pay for what you have planned to buy. Have your credit card at home.
If you see something you think you really need, give yourself two weeks to decide whether it is really something you need or something you can easily do without. By following this simple solution, you repair your financial fences and your relationships.
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