Free Financial Today

Have you ever bought something one day and then the next day said “what was I thinking?” You were probably the victim of effective impulse purchase advertising and placement. We have all been victims.

It really hit home a couple of years ago, when I looked at my donation of old clothes to my city’s Goodwill and realized how many of the clothes still had the original tags on them. I had never worn them, not even touched them. I was really mad at myself for wasting so much money in the past. Hopefully there were people who truly enjoyed my impulse purchases when they found them at Goodwill.

When I started discussing my carelessness with my friends, I realized that I was not alone. We live in such a fast paced world, where impulse buying and instant gratification have replaced delayed gratification. Many of us buy things “on the fly” and even forget that we have bought them. Just last month I finally opened a box that had been sitting in my house for over a year. It was filled with newborn baby toiletries that I ordered for my daughter-in-law when my grandson Dylan was born. He’s walking and almost talking now! Oops! The newborn baby toiletries have now been moved to the gift closet.

I decided I needed to change how I shopped in order to take control of myself. I began testing myself. Whenever I am buying anything anymore I first ask myself,

1) “Is this a want or a need?”

In almost all cases the answer is resoundingly, “A want!” And that is Okat least I have made that decision.

The next step is very simple, I walk away from the item for at least two minutes. I ask myself the following questions:

2.) How badly do I want it?

3.) Does it really make me look slimmer?

4.) Would I have come to this store just to buy that item?

5.) How would I better enjoy spending the money?

Nine times out of ten, I decide to NOT buy the item. In just two minutes I have taken absolute control of my finances by asking myself these five simple questions. The proof was when there were no tags in my last donation of clothes to Goodwill! Join my two minute club and you will also feel good about walking away and taking control over your financial life!

Step by step Sharon Lechter can help you on your road to better Finances