Impulse spending - ah, the bane of my monthly budget. Dropping cash on a whim for things I don't really need was something I've struggled with for as long as I can remember. However, 2018 is the year of paying off all our debt (and it's kind of a lot) so wrangling those impulse urges had to happen. These are the top strategies I have incorporated into our life to help stop the impulse and save money. Choose one of these methods or use them all to help keep your budget on track!
Hide Your Credit Cards
You don't need to hide yo' kids, hide yo' wife... but if you can't handle your credit cards burning a hole in your product, stop carrying them in your wallet. For me, that means I keep them in one of my drawers in my bedroom. If you have an issue with impulse spending on credit, the simplest solution is to take away the option.
Avoid Places You Impulse Spend
I mean, where do you get the impulse to spend? Is it the mall? Amazon? Watching infomercials at 2am? Target? Whatever the case may be, you can prevent the impulse spending from happening in the first place by not going shopping. (I didn't say this was a complicated strategy, ok?)
So, only go shopping if you have something you need to purchase and take a list. Don't buy anything that's not on the list. Then, get the heck out! Of course, this is especially difficult at Target, but I believe in you.
Ask Yourself Questions
Hold up, wait a minute! Before you buy, ask yourself:
Remember Your Goals
I'm a big fan of goals to help keep me on track. Do you have debt you want to pay off and a date you want to accomplish that goal by? Is there a big purchase you're planning to make, like a car or a house? Do you want to leave your full-time job to stay home with your kids?
Keep these goals in mind and you assess if what you're spending will affect your big dreams.
Wait it Out
When you have the urge to buy something, force yourself to wait a week. By waiting, you have time to think about whether you actually want it or if it is an impulse buy; you can make conscious spending decisions that fit your budget.
Are you working to pay off debt? Check out my friend Mandyy's course all about paying of your credit card debt! She's an online financial coach who teaches women how to get their financial life in order so that they can really live their dreams!