Impulse spending is a big problem for people who are not self-disciplined about spending.
Impulse spending undermines your attempt to get a handle on your spending. It does no good to have a budget if you are an impulsive buyer.
If you know this is a problem, adopt these rules:
1. Do not buy anything that is not on your shopping list, for any reason, for the next six months.
2. Work hard to make your shopping list before you get into your car to drive to shop.
3. Do all of your shopping in the same trip. This will save time and gasoline.
4. If you see a tremendous bargain, write it down in your shopping notebook. Then put it on your next shopping list. Say where you saw it.
5. Compare this price at home by checking the Web. Maybe it’s not that good a bargain. Be sure you check Craigslist.
6. Write down the ways this item will help you. If you can’t think of many ways, don’t buy it. If you do think of numerous ways, buy it in 30 days.
7. The 30-day wait is your cooling off period. It says, “I can buy this, but I will force myself to wait.” This is not going cold turkey. It is going cool turkey.