Impulse Buying

Despite all of my best practiced disciplines for saving and reduced spending I still have one recurring challenge I have to face, the urge to buy on impulse. The biggest spending season is just about here and I must remind myself of the importance of controlling my spending, and knowing the difference between a want and a need. I think through the year of all my hard work depleting credit card debt and instituting savings plans it is only right that I maintain my disciplines as holidays arrive. Overspending is far to easy in this consumer society. My goal this year is to not buy anything whether for myself or a present for family and friends on credit. I want to pay cash for everything I buy. In the past it has been far to habitual to ring up a large credit card debt and then take half of the following year to pay it off. I am thinking of gifting everyone with a well picked humorous card and some cash or a gift card. This will probably save me quite a bit of money in the long run by not having to pay interest and in this recession I think everyone can appreciate the value of money, even if it's to their favorite restaurant or retail store.

This year I am also going to work on really understanding what a deal is. Just because something is 50% off doesn't necessarily make it a deal. I may pay less but if I don't use whatever it is I buy and get my moneys worth out of it it certainly wasn't a deal in the long run. In the past I must regret that I have purchased things on impulse because I thought it was a good deal, years later I have used such things only a few times. I don't really need any more stuff. From now on I am going to try to make sure that everything I buy that is not a direct need will at least be a want that will pay off through regular use.

I think controlling my impulse buying through this holiday season, and preventing the use of credit I can avoid debt and save on interest allowing me continue my focus on my quest for wealth.