Avoid Impulse Spending

WaMu your way to avoiding impulse spending

Answer these questions truthfully:

1. Is your spousal unit or partner or both complaining that you $pend too much money?
2. Does SHOCKED best describe your overall system when each month your credit card bill arrives at how much more you charged than you thought you had?
3. Shoewhore!? Do you have more shoes and clothes in your closet than you could ever possibly wear?
4. X-Gen freak’n!!? Whe new gadgets hit the shelfs are you first in line with the credit card?
5. GIMMIGIMMI! Are you buying stuff you didn’t know you wanted until you saw them on display?

If you blushed or answered “yup” to any two of the above questions, you’re an impulse spender and lavish yourself in retail therapy too often. Stopping soon will greatly affect your retirement years.

by s2photo

This free flowing money habit is not a good thing. It will prevent you from saving for the important things like a house, a new car, a vacation or retirement – duh. Set financial goals while resisting the urge to spend money on items that really don’t matter in the long run.

Impulse spending will not only put a strain on your finances both short and long term but your relationships, as well. To overcome this all to common problem, the first thing to do is learn to separate your family needs from your wants. Advertisers razz us peddling their goods 24/7 all year long. The trick is to give yourself a cooling-off period before you buy anything that you have not planned for.

When you go shopping, make a list and take only enough cash to pay for what you have planned to buy. Leave your credit cards at home. If you see something you think you really need, give yourself two weeks to decide if it is really something you need or something you can easily do without. By following this simple solution, you will mend your financial fences and your relationships. You have taken the wrong path dear soul.

WaMu has the answer in the form of their savings services. Online savings accounts complete with statement savings, the tradition/online or liquid CD.