By Kate Northrup
Have you ever bought something that in the moment felt like the best purchase EVER, only to wonder what the heck you were thinking when you got your credit card bill three weeks later?
If so, you may have fallen prey to impulsive spending.
Money is a deeply emotional issue. Anyone who tells you otherwise is either lying or totally out of touch.
We buy things because we want to feel a certain way: abundant, pretty, comfortable, sexy, etc. But the truth is, the path to long-term, sustainable happiness is not actually paved in paper and plastic (bills and credit cards, that is.)
Just like alcohol, drugs, food, sex, and any other vice you can name, spending money can be a way to numb out. Sometimes we’re trying to avoid feeling what we’re feeling so we pull out our credit card.
So how do we stop impulsive spending? How do we make smarter, more mindful spending decisions that actually DO contribute to sustainable happiness and financial well-being?
I’m so glad you asked because this week’s Financial Freedom Friday episode covers this topic in depth.
Watch the video below to get 5 simple steps you can take to stop impulsive spending before it even starts. Your bank account, credit card balances, savings account, and peace of mind will all thank you 🙂
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Over to you:
When do you find yourself the most prone to impulsive spending? What other tips do you have for stopping impulsive spending? Leave a comment below!