5 Tips To Manage Impulse Spending
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Loading... - Peter Wamalwa
- 09 Nov 2022
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Your hard-earned money should be spent on things that matter to you, not on impulse purchases that leave you feeling guilty later. Here are five tips to help you manage your impulse spending:
Understand Your Triggers
Impulse spending can be triggered by anything from boredom to anxiety. Keep a journal of your spending habits and try to identify what sets off your urge to spend. Once you know your triggers, you can begin to avoid them.
Create A Budget – And Stick To It!
A budget will help you become more mindful of your spending and make it easier to stick to your financial goals. When creating your budget, be realistic and allow some wiggle room for incidentals.
Save First, Spend Later
One of the best ways to avoid impulse spending is to pay yourself first. Automate your savings so that a fixed amount is transferred to your savings account each month before you have a chance to spend it. Then, when you do have extra money, you can treat yourself without guilt. Read More…
