Are you an impulse buyer?

Have you ever walked into a store to buy a sweater, only to leave with that sweater, a pair of jeans, a belt and accessories? Many of us have a problem with impulse buying and purchasing items we don’t really need.

If you’re an impulse buyer, here are a few tips to help you resist:

• Avoid or limit trips to malls and online buying sites
• Pay cash for items – it’s harder to part with than swiping a credit or debit card
• Leave your credit card at home
• If you see an item you really want – sleep on it. Do you feel you still can’t live without it the next day?
• Keep in mind your latte factor – and that small items really add up

Before I buy:

Don’t just blindly buy an item – really give some thought to your next purchase. Ask yourself the following:

1. Do I really need it?
2. If I don’t need it, do I really, really want it?
3. Will this item make me happier?
4. Am I sure I will use this item often?
5. If I buy this item now, will I have enough money for stuff I might need or want later this week, or later this month?
6. Will buying this item interfere with paying off debt?
7. Do I have the money for this item now, or can I wait to buy it so I can
8. save for it?
9. Can I get it cheaper somewhere else?
10. Do I have an item, or can I buy a cheaper item, similar to this one?

If you think about these questions and answer them honestly, you’ll get a good idea of whether or not you should buy the item. If you said yes to questions 1, 2, 3, 4, 5, 7, and no to 6, 8 and 9, chances are this is a good purchase for you.