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5 Questions To Ask About Your Money
Check List!! Now answer these questions truthfully: 1.) Does anyone close to you comment that you spend too much? 2.) Do you get surprised when your credit card bill arrives and you find out how much more you charged than you thought you had? 3.) Do you have more stuff (shoes/clothes) in your closet than you could ever possibly wear? 4.) Do you own every new gadget before it has time to collect dust on a retailer’s shelf? 5.) Do you buy things you didn’t know you wanted until you saw them on display in a store? If you answered “yes” to any two of the above questions, you can be considered an impulse spender and you like to indulge yourself in retail therapy. Impulse spending will not only put a strain on your finances but your relationships, as well. To overcome the problem, the first thing to do is learn to separate your needs from your wants. A need can be defined as something that will add value to your life. A want is really what can be classified as anything that gives us instant gratification. An example would be my son wants a new toy, but does he need the toy? Most likely not as the toy does nothing to add value to his present existence. More often than not, the toy gets out grown very quickly! Advertisers bombard us with all sort of stimuli everyday. A trick I learnt is to postpone the purchase. Like each time I want a new gadget, but it was not planned for, what I’ll do is wait for 3 days. If after 3 days I still can’t shake away the want then I’ll purchase it. Spending is always a good thing, it makes us feel happy. The smart way to live life is to plan our happiness. This means that we budget away some money every month to reward ourselves. Also always squirrel away some cash for a rainy day. Article Directory: http://www.articledashboard.com Dr. Joshua Geralds is a successful investment specialist with over twenty years experience increasing the income of people world wide. For a limited time get his free Money Management to a Million Dollars e-course here: www.pipsalot.com |
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