If you’re an impulse shopper and you want to do something about it, consider impulse saving. Each time you make an impulsive purchase, put that same amount into a savings account.
Debt Roundup explains that the benefit of impulsive saving is twofold — you become more aware of your spending habits, and, in the process, you save money.
Using this method to save money will show you how much money you are really spending on impulse purchases. So, not only will you get an insight into how much you are spending, but it will also get you to save.
We’ve covered tips for curbing impulse shopping before, but I like this one because the “punishment” is actually a reward. As one reader pointed out, this is similar in concept to a swear jar. You modify your habit and save money at the same time.
The Impulse Purchase Savings Plan [Debt Roundup]
Comments