Think of Impulse Buying As the Enemy of Your Financial Goals
This month we asked you to curb your impulsive spending habits. Impulsive spending is an unplanned waste that you usually regret because it turns you into a weak, reckless consumer . One powerful way to crush him? Consider impulsive spending the enemy of your financial goals.
When I talk about financial goals, I don’t just mean “save $ 1,000 this year.” It’s so easy to dismiss such a boring goal. I’m talking about specific, passionate goals . Pay off your debt so that I can finally do whatever I want with my money. Save up so I can finally travel to New Zealand next year.
While there are many tips and tricks that can help with emotional, reckless spending, I find it very helpful to at least remember that impulsive spending is an obstacle to my financial goals. It’s easy to get carried away with retail therapy and try to justify your purchases: “This is such a great deal, it’s only X dollars! I’ll spend … just one time .
Whenever I am at this point, I try to remember: this object is the enemy of my goal. This mantra helps for several reasons.
First, remembering my purpose reminds me that my money has a purpose. Second, it’s a great rebuttal to my own excuses for spending. Of course, I can break the rules and buy something only once, but I only remove what I think is more important.