Personal Budgets

Impulse Decisions Can Set Fire On Your Finances

I dont know if you are a Christian, but I was reminded with a bible verse that actually speaks at many things in our life including our finances.

My dear brothers and sisters, take note of this: Everyone should be quick to listen, slow to speak…

James 1:19 NIV

The phrase “Quick to Listen, Slow To Speak” really caught my attention. Although it was directed more towards our daily habits, I find that the phrase can also be applied to our personal finances.

Think about it. We have to make decisions everyday. Some or maybe most of them are fairly simple that we don’t even spend 1 second to think of the outcome.

The verse talks about how we should think before we speak. And what I want to say is “Why can’t we think before spending?” A lot of time, we tend to just fire our “Yes” right away because we see the item is too cheap too worry about, or maybe just because we are in a good mood.

And the other issue is that, often times, we are having trouble with listening. What I mean by this is listening to your goals, listening to your budgets.

These two issues can really set you back on your finances. In fact, it really could set your personal finances on fire and out of whack. I am posting this not to just give you another tips and tricks about personal finances. You can find thousands of tips and tricks out there, but if you do not have the change in your habit, character, and discipline, those tips and tricks will not work for you.They will even make you depressed because you keep missing the target. Keep getting off the track on your financial goals.

At any rate, I think you should start by evaluating yourself. Write down all of the things that you buy in the last 30 days or so. Evaluate those purchase. Were they mostly impulse buying? If so, try to do the same exercise every month. This will let you see better whether or not you are really one of those who likes to do impulse buying.

How do you get rid of the bad habit?

It won’t be overnight. But, by keeping track what are the things that you purchase impulsively, you will be able start a game plan to change your habit. Keep asking yourself whether or not you NEED it. Have a friend or someone else look over your expenses. Always keep receipts, so you can return the items. These things will hold your horses on impulse buying.

Anyhow, I hope this post can be a good reminder for everyone. Obviously, I may not cover everything. If you have any other suggestions on curbing impulse buying, please let me know in the comment section below. Thanks!

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