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How To Manage Your Urge To Splurge

mrsspy By mrsspy on
Badge: Publisher | Level: 9 | Finances Expertise:

It takes time for some people to realize that splurging in shopping will bring them troubles. There are young professionals, working, earning, but splurging everything they earned on payday. Spending your money sensibly and responsibly will bring you heaps of savings, while splurging it on something that is unimportant or unnecessary is wasting money and might bring you deep in debt.

Spend within your means. Is the cost of what you want to buy within your budget? If it is not included in your available budget, then, postpone buying it. Saving for it will take few weeks or even more, but but spending the money that you saved just for that specific buy will feel much better.

Shop with justifiable reason. Necessity must be the main reason although treating yourself once in a blue moon could be justifiable as well. When was the last time you splurged on something for yourself? Pampering yourself sometimes and buying yourself a treat after a long time of not doing it is worth spending. Treating yourself for surviving a difficult week or month with your boss and working overtime seems justifiable.

Pay in cash. Make this a rule and follow it strictly. That is the only way to know if you really can afford to buy it. This will also help you refrain from using your credit card everytime you see something that you want to buy. This is not easy to do especially for those who already got used to do shopping using just credit card.

Spend on something that is useful for you; not just something that you will use few times.

Never buy on impulse. Impulse buying can make you regret what you have bought afterwards. It is a terrible feeling realizing that you bought something that you don't really need, and the worst thing is, you overspent as well!

Do not shop just to cheer yourself up! This is a habit that some women develop in time. And the thing is, it could be very hard to break.

Finally, ask yourself "Do I work to shop, or do I work to live?" The answer will surely come right. It is a liberating feeling to be debt-free, have your credit card cleared, and be in control of your finances.