How To Deal with Impulsive Spending?

[Spencer]

As an individual, we are often times tempted to be Impulsive maybe because we've see something we like, so naturally we want to grab at it and buy even if we did not need it currently, how can impulsive spending be controlled?

1) Set up Automatic Savings: By setting up automatic savings you have eliminate any need for Impulsive savings because you don't even have access to money.

2) Accountability Partners: Finding accountability partners helps too, it keeps you grounded on doing what you said to avoid embarrassment.

 

[Mika]

One of the best ways to avoid impulsive spending is not carrying cash. When you do not have a lot of cash in your pocket, how can you spend money. Another best way is by not using credit cards. If you are using credit cards you will be spending money even when you do not have cash, but if you no longer carry a credit card, how can you shop. If you have to carry cards, you can set a low limit so that you do not end up spending a lot of money through impulsive spending.