Tuesday, March 30, 2010

The Impulse of Buying "or" Spending

...How do you control impulse spending or impulse buying? Spending & buying are 2 different behaviors. To "buy" something means that there was some thought behind your purchase. To “spend” means to pay out, splurge, use up indicating there was no thought behind the purchase. Some people do have an addiction to one or the other or even both. How do you identify that you have a problem?:

1. You spend your money before you get your check

2. When your finances are affected because you have no self control

3. When you make enough money to last you until the next paycheck but yet your super broke by your next check

I am not saying that an occasional planned or unplanned purchase is wrong because it's not. What makes it wrong is the IMPULSE-the need to have! I have a friend who is an impulse buyer. She actually thinks about the purchase before she spends her money however the thrill or the impulse of a planned purchase comes from when you have to have something and in this case if there is a sale or a coupon which makes the sale so extreme you can't pass it up- And don't let it be combined with a buy 1 get 1 free offer, you can best believe it is a done deal!

So nothing’s wrong with that right? You're right it's not! But when you can't make your car payment, put gas in your car to make it to work or take your child to the doctor's because you don't have the $10.00 co-payment then guess what, it's a problem right?! And let me be the 1st to testify I have been down that road. It is a road of destruction.

Admitting you have a problem (yes you have a problem) is truly the only way to a healthy start of recovery! Recognize your behaviors, when does this impulse occur, identify the type of impulse behavior you have! Once you have successfully identified your type of impulse and when it occurs, set goals for yourself such as at the end of the week set aside some money "SET ASIDE" and treat yourself if you've made it through the week and did not "impulse buy or spend"!

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