Impulse Spending...

Liz66

Cathlete
Hi all! I'm looking for advice/suggestions for improving a true weakness of mine. I'm such an implusive spender, particularly during PMS time of month. I really, really want to work on this shortcoming! My husband and I are working towards having our new house built in the early spring, and I want to be in the best financial shape possible. Sometimes when I look back at the all the money I've pissed away on nothing, well, I get really mad at myself! It's like I can do okay for a while, but then I fall back into my old, what, habit? Is it a habit? What is it? I really, really want to conquer this beast...

Liz
 
And, you are asking CATHE FANS to help you??? Ha! J/K! I really don't have problems unless it comes to fitness DVD's & equipment. Have fun building your new home. That was an exciting time in our life as we designed it oursleves. Good Luck Liz!


http://www.PictureTrail.com/gid8692709


Your-Friend-In-Fitness, DebbieH (AKA "Den Mother Debbie") http://www.clicksmilies.com/s0105/aktion/action-smiley-066.gif[/img] If You Get The Choice To Sit It Out Or Dance, I Hope You DANCE!
 
HAHAHA!! Thanks, Debbie! It's been a labor of love - we've designed ours, too. The worst part is trying not to get ripped off. My husband has a pretty good idea as to what things should cost, but contractors want to suck every dime out of you, don't they?

Anyway, sometimes I get totally discouraged and figure the hell with it, I'm buying a new suit for work. Then shoes. Then make-up. Then whatever...

<<sigh>>
 
Well, I'm no financial advisor, but here is my story:

DH & I have never really hurt for money. We have enough to buy what we need and have some leftover. However I was wanting to save more. We are self-employed so no one else is "helping" with our retirement. We set aside "X" amount of money each week for our "allowance" in CASH. Cash is the biggest thing. After the cash is out no more spending that week. It's caused me to be very resourceful.

My amount is $200, his is $50. Your amount would be higher/lower based on how much money you make vs. how much you want to save. I'm a pretty strict saver - I like to see a big rise each month in my account.

All household bills(electric, propane, mortgage, etc) come out of the checkbook. My cash covers groceries, lunch out with DDs, fuel, any hobby activities I have (scrapbooking). His covers...well, I'm not sure!!! He has way more "play" w/ his allowance than I do. He has nothing responsible to buy with his share. I personally think he should get NONE because all of his daytime expenses are work-related (different account), but I can't restrict him too much!

When there is something I want to charge like Cathe DVDs I have to budget carefully. I take the amount from my cash and put it into the checking account to cover the charge card purchase.

I hope this helps. Let me know if you want any more info. I know some girls here talk about PMing, but I don't know anything about that! I'll check back here later. Good luck!
 
Something that might help you is to do a budget with your husband every month. Sit down and figure out what money you'll get this month from your income and other sources. Then spend all the money on paper. Not the perfect month from heaven, but this month, right now, with real life stuff. Make sure and take care of essentials and all that, including clothes. If you NEED clothes make sure and put that as part of the budget.

One of the things you can DECIDE to spend money on is a blow category for you. Say $100 per month. Or $50 or $25. Or whatever you and your DH agree on. Then know you have that money you can spend on whatever you want. Then stick to that dollar amount. Buy a Cathe DVD or some new make-up or a really nice new blouse. But put some parameters around it (meaning a dollar figure).

My husband and I do a budget every single month. It's great. We take care of the essentials like food, utilities, mortgage, etc, and we agree on how much to spend on non-essentials and when we buy extra stuff. It sounds like it takes a long time, but our "meetings" are only about 20 minutes now. Took us a little longer in the beginning when we were feeling out the process and finding our communication skills.

Check out www.daveramsey.com for some more helpful money and budgeting tips.

Good luck,
April
 
>I'd like to know the answer to this too. For me its
>skincare, makeup and fitness.

Those are my spending weaknesses too !!

One thing that I do that helps, with respect to *makeup*, is:
1) make an inventory of all makeup that I own and throw away stuff that is trash, period. NO lamenting, no maybes...just get rid of it. 2) Keep your inventory with you and when you want to buy something, compare to your inventory
3) keep a list of all makeup you bought EVERY WEEK and calculate the costs ... admission is the first step !
4) Instead of buying from impulse, keep a "wish list"...if you see something you have to have, put it on the wish list and wait at least day or two.


Concerning clothes....I have learned that OUT OF SIGHT = OUT OF MIND. I cancelled ALL EMAILS from clothing stores (like J.Jill, Coldwater Creek, etc...). If I get a catalog in the mail, I toss it immediately. I now shop from Ann Taylor, Bass, JCPenney, and sometimes Macys. SALES ONLY...always clip coupons !!


Concerning exercise videos... I don't worry about overspending too much because I get so much in return !!!!

I too sit back and am ready to cry over all the money I have wasted...the fads and hypes that I have fallen for...too much to even think about. I just paid off my NORDSTROM bill ($700). And I have another HUGE credit card bill to pay off next.

Well, not sure if this was helpful, but I feel your pain, and I try to practice the above the best I can ! The above pointers might sound like too much work, but sometimes you just have to do it to get over a bad habit.
 
Stuff that I do to curtail spending:

1) Don't carry credit cards - debit card, yes, but that limits me with whatever is in my checking account
2) When we eat out, I always use coupons (like those in Entertainment books)
3) Buy groceries at Walmart
4) Buy clothes, shoes, etc. on sale - never pay full price for anything. I also go to thrift stores & consignment shops.
5) Buy stuff on ebay - again TRY to use debit card
6) Have savings and 401K taken out of your pay so you don't miss it
7) Drive used cars
8) Pack your lunch instead of eating out during the week
9) Use a Tracphone and use it only for emergencies. I buy minutes once a year.

I'm sure there's more - that's all I can think of.
 
These are really good suggestions. The problem I have is that while I'll allow myself X amount of money, I don't tell myself that I'm done spending once it's gone! We both have pretty good incomes and are able to save each month. It just cuts into what we could save. But I think looking at the on-line account each day would be helpful. It's always, like, at the end of the month when I look at what I've spent over the month on stuff I don't really need that shocks me - maybe if I'm looking at it each day and adding it up it'll help me to keep it in perspective...

Thanks!!
Liz
 
I was having this problem for a while and I've suddenly gotten it in check. Unfortunately, it came via other people's suffering. One day, I believe shortly after Katrina, I looked around my apartment and realized that no matter how "tough" I was perceiving things to be, I am incredibly lucky. I have a beautiful apartment, I'm healthy and I can buy good food and nice things. But I started looking at my closet and other "things" and wondered to myself - really, how many pairs of shoes/other stuff do you need!! It stopped me dead in my tracks. Now, whenever I feel I'm about to impulse spend, I stop for a second and think about that. I ask myself "do I really NEED this." If yes, then I buy it. If not..... I make myself justify every purchase. I also remind myself that it truly is a "weakness." Toughen up, grow up, put it down and walk away!! Behave like a responsible adult. I still have moments of weakness, but I have really managed to cut way, way back. And I am finding the urges are going away. I also limit my exposure to "opportunties," as well, especially if I'm feeling bad or in one of the moods that makes me do it in the first place.
 
I'm not a doctor, but I play one on TV ....no seriously. I'm really NOT a doctor, but I do spend compulsively, which is why my DH and recently took our massive unsecured debt to credit counselors to have them try to work with our creditors. It truly IS depressing how much money you can go through in such a short period of time, and really have nothing to show for it.

I have found that this is a compulsive behavior, similar to overeating, or gambling or drug addiction. I think counseling has helped me with this, but the key is finding a counselor that will actually help you move forward. I've often found that alot of doctors use their sessions as gossip time, and really don't help patients freedom from what they are there for.

Just a thought! (Congrats on the house tho, by the way).

:7
 
I am probably the QUEEN of impluse spending!}( }( }( It would pain me to add up all of the money I've spent on impulse purchases. I buy so much stuff because I want it rather then need it. I go shopping when I'm BORED! LOL

The one thing that would really help me cut down on my impulse spending is to throw the darned computer out the window cause the internet is MOSTLY to blame. I just can't do it though...:p
 
Liz, buying my new house is what cured me of impulse spending. It took every penny I had & then some to get into that place. Not to mention there are lots of things I want to do to it.

Here's a suggestion, if you haven't already started--start pricing the things you want for your new home. When you see how much things for the kitchen, bathrooms, floors, storage, home gym, etc. etc. cost it might make you think twice next time you have the urge to make a purchase. :)
 
I am by no means a minimalist and still the amount of clothing that I have is enormous, but one thing that helped me is to go through my closest, VERY thoroughly and to put everything into one huge pile. When faced with everything that I have bought over the years and continue to buy, I was almost sick. Does one person actually NEED thirty pairs of jeans? And just because I can afford it isn't a good reason. And even worse, once you want to part with some of your clothing/shoes/accessories/etc, there is nothing to do with it short of giving it away (which isn't bad). But, giving away a perfectly good pair of Abercrombie and Fitch jeans doesn't seem right. I guess it really hit me that even though an enormous pile of clothing was functional, clean, well-mended, I could hardly get one dime for it (believe me, I tried, I had a yard sale, and no one would buy the stuff).

I love to buy new clothes, to stay up with the trends and to look killer when I go out, but I have to balance that with what I NEED. Honestly, my closet is full, totes are stuffed under the bed (kind sized), and my drawers are popping! Yet, I still have the strongest urge to go to Target. JEEZ!!

I'm not sure if this helps, but all I can say is what I try to do: try to be mindful, don't beat yourself up, stay out of the stores as much as possible, and then do a good deed with what you can't/don't use anymore, such as Goodwill or a place that takes work clothes for women who are less-fortunate and are trying to get on their feet and get a job.

Just a thought.
 
Hi Liz and everyone,

These are all such great suggestions! I'm also a terrible impulse shopper, especially with make-up, books, and clothes. What has helped me is to set a limit on what "fun money" I can spend for the month. (My DH and I came up with a figure that we could live with awhile ago.) Then I keep a log in my daily planner of what I've bought and how much it cost. When I'm feeling like I absolutely can't live without something, I try to take a break and ask myself if I really need it.

On-line shopping is a killer for me, too, so I love the suggestions about canceling email notices from stores and about assessing the clothes/make-up that I've already bought.

Leanne
 

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