Control Your Impulses

Sometimes it can be hard to walk away from a really good deal. Many impulse shoppers just can't stop shopping. Like any addiction, it has to be faced before it can be conquered.

How do you know if you have a shopping problem? Ask yourself the following questions:

* Are you surprised when you credit card bill arrives?
* Do you have no idea how much money you owe or have?
* Do you hide purchases from your spouse?
* Do you have more items than you can fit in your closets?
* Do you have things that you have never used?
* Do you come home from the store with things you never intended to purchase?
* Do you justify your purchases by saying that they were on sale or a great deal?

If you answered yes to the above questions, you probably are an impulse shopper.

Impulse shopping is a serious issue. When people are unable to save for the things that are important to them -- a house, retirement, a new car -- impulse shopping is often the root of the problem. It causes serious debt and can even lead to bankruptcy.

One of the best ways to counter the urge to splurge is to set specific financial goals that you can work towards. By working to create a budget and saving for your future you can gain control of more than just your finances. You gain control of your life.

But you don't have to totally deprive yourself. Once you have developed a working budget and are taking the steps to realize your goals, you can set aside money for occasional spending. This is your splurging fund and is just for you. Consider it a reward for taking back the control of your money.

Impuse spending can affect more than just your finances. It can take over your entire life. When you are looking to overcome the spending urge, you have to learn to differentiate your needs from your wants. This is a hard thing to do. We are so bombarded with messages that appeal to our psychological needs that we are often unable to realize that we don't "need" something.

One way to control your spending is to carry a small notepad in your wallet or purse. When you see an item you really want, write it on the card. Wait a week. If you still want the item and can find money in your budget for it, you can go back and purchase it.

Never keep more than three items at a time on your list. If you want to add another item, you must remove one first.

You can avoid temptation by simply not going into the store. If you are not going in with a list for specific items that you need, you shouldn't even go in at all. A lot of impulse spending is simply recreational spending -- something to do. You can avoid this spending by never putting yourself in the situation to begin with.

Use cash whenever possible. For example, when you go grocery shopping, leave your credit cards at home. Don't take in your wallet or checkbook. Carry only the cash you have allotted for groceries. This will prevent you from spending more than you have.

Controlling your impulses to spend simply takes practice. Your goals are essential. Every time you make a purchase decision, ask yourself how the purchase affects your goals. If you take the time, you can change your spending habits and afford the things you really want in life.