Impulse spending is a result of you and your family believing you need something or your family having easy access to money.

Money that can be easily accessed by using a credit card or via your checking account. These are methods of payment that should be avoided.

Impulse spending is also caused by lack of financial planning. People spend too much because they don’t make a list (plan for) items that they need to purchase at a store.

How Does Quick Access To Money Affect My Spending?

Psychologically it’s easier for you too impulse spend when you have access to a credit card or even your checking account. You have a “I’ll pay it later” mentality, or you believe that writing a check out “is no big deal” because there is enough money to cover your spending.

How Can I Stop My Impulse Spending?

Learn to operate on cash-only and your spending mentality will change. You will now fully realize the value of your money, and you will not be quick to impulse spend. It worked for me, and it can work for you.

For the next 7 days only use cash when you need to spend money. Continue to follow this process. You will find yourselve making less impulse purchases.

How Making A Shopping List Will Improve My Spending

A list shows you specific actions that you must take to complete an activity. Your shopping list is like a “to do”. You have specific actions you need to finish to complete your to-do list. This same concept can apply to shopping.

Make a list out prior to shopping and you will know the specific actions (i.e. items that will be purchased) prior to completing your shopping. Follow your list and you will have less of a chance of impulse spending.

Operate on a cash-only basis and use a shopping list whenever you shop. This will lead to less impulse spending.