Impulse Buying: A Lifestyle That Needs Urgent Attention
Impulse Buying: A Lifestyle That Needs Urgent Attention
A lot of people are going true financial crises because of impulse buying. They lack control over their finance and whenever money enters their hand, in a short time, the money disappears without accounting for it. Impulse spending is very deadly, it can cripples a man’s finances. What impulse spending does to a man is that, it doesn't allow you to see the need to save money. It's an emotional disorder that needs to be checkmate. It requires an urgent attention. To be a good financial manager which everyone is supposed to be, you must always have a budget and plan for everything you want to buy at a particular period.
A money that is not planned for a thing can be spent on anything that crosses the mind and eyes. The truth that human wants are insatiable requires that you budget everything you wants putting them on order of hierarchy according to the need base of a product. Without putting this into consideration you might find yourself in a financial rat race. Progress is a character or principle of life. Therefore, if you are not making progress in your financial life then all is not well with you. In contemporary society, money is very important that almost everything revolves around it. Without money you can't do anything in life. So without proper accountability and responsibility, you cannot effectively promote your savings and expenses.
Financial management ought to be the first lesson a person is exposed to after being taught good moral values. Many issues raising from marriage, family life and relationship is as a result of inefficiency in money management. It is so wrong for one to go to the market to buy things without planning on what to buy. The truth is , if this happens, you will end up buying everything that looks good to you and before you realize the money is far spent and the necessary things you need to buy, you may not be able to buy them.
The best way to control impulse spending is by budgeting. Whenever you are expecting money, before the money arrives, make your budget, write them down boldly with an estimated amount for each commodity. When this has been done, you can then go to the market to purchase them. Budgeting gives one a sense of direction and also helps to control unnecessary spending. Some people cannot account for the things they buy with their money, that why even if their money got missing, they won't know.
Another profound way of controlling impulse buying is through self discipline. Remember that emotion is what propagate impulse spending and without putting to check your appetite on certain things it might be difficult for you to deal with it. Always close your eyes to certain things you around you especially things that captures the eyes. You might not need them at the moment. So when one is faced with the impulse of spending, he should remember that self discipline is what would help him out.
There is a need for one to have someone who holds him accountable for every money spent. This person can be in charge of your money and only releases the them for a purpose that is needful. This strategy will help minimize unnecessary spending and buying by impulse.
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