Avoiding Impulse Spending

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 more you charged than you thought you had?

3.) Do you have more shoes and clothes in your closet than you could ever possibly wear?

4.) Do you own every new gadget before it has time to collect dust on a retailer's shelf?

5.) Do you buy things you didn't know you wanted until you saw them on display in a store?

If you answered "yes" to either of the two questions above, you are an impulsive spender and are indulging in retail therapy.

This is not good. It will prevent you from saving for important things like a house, a new car, a vacation, or retirement. He should set some financial goals and resist spending money on items that don't matter in the long run.

Impulsive spending will not only put a strain on your finances but also your relationships. The first thing you need to do to overcome the problem is learning to separate your needs from your wants.

Advertisers bombard us by hawking their products 24/7. The trick is to give yourself a cooling-off period before you buy something you didn't plan on.

When you go shopping, make a list and bring only enough cash to pay for what you plan to buy. Leave your credit cards at home.

If you see something you think you need, take two weeks to decide if it's something you need or something you can easily do without. By following this simple solution, you will repair your financial and relationship hurdles.