On Average, Americans Spend $450 a Month Impulsively; Here's 10 Ways to Minimize That
We live in a society that his disposable income like no other before us. So it should not be surprising to find out that people in America tend to impulsively spend hundreds of dollars a month. If you've done that, you're certainly not alone (and I have probably done it at some point myself).
I came across a post from Dave Ramsey's website with 10 ways to minimize impulsive spending. If we save the average amount of impulsive spending, we can make a lot of progress on paying down our debts and building wealth.
Here are just a few of them as listed in the post:
1). Get on a monthly budget and stick to it. When you tell your money where to go, suddenly it seems like you have a lot more money on your hands.
2). Give yourself permission to spend some of your money. That is to say, in your budget allow some wiggle room so you can make little purchases but in a way that won't set you back.
3). Wait overnight before making a big purchase. When you're considering buying something that costs a lot of money, take some time to think about the decision, to separate the decision from the emotions. The time will help to allow clearer thinking, and better decisions will be made as a result.
Want to learn more? Follow the link above. I can say from experience that his advice works!