Impulse buying: we’ve all done it. Whether in the grocery store, at the gas station, or in your favorite clothing store, an impulse buy usually pertains to purchasing something unnecessary without having planning to do so in advance. This type of buying tends to happen when we’re bored or in an extreme of emotion. However, this type of expense can add up rather quickly. Learn what you can do in order to avoid these impulse buys or what you can do to make up for that loss by applying for loans in Arizona through My Tio Rico!
Always Make Lists
Have you ever gone to the store looking to only pick up a few items and find yourself leaving with much more than you intended to buy? This always tends to happen when venturing into superstores such as large grocery stores, Wal-Mart, or Target. Instead, try writing a list and planning out what you need before you go. Anything that didn’t cross your mind beforehand in order to make it on the list is most likely an impulse buy or is unnecessary to have at this time. Although making a list won’t exactly change your spending habits, it will certainly guide you towards what you need versus what you want.
Carry Strictly Cash
Carrying strictly cash will not only keep you on a strict budget by limiting the amount of physical cash on hand, but also decrease or help control your spending. Sometimes physically seeing and spending your money will give you a much better idea on how much is being spent as opposed to using a credit or debit card. On the other hand, if your job involves being paid in cash, make
sure you stop at the ATM directly after work to deposit your money and keep only what is necessary.
Do you need it or do you want it? If you can live without it, you don’t need it. Save it for a time when you know you can afford it. An automatic way to know if it’s a ‘want’ is if you unconsciously are questioning the decision to buy. Another way to make a decision is to sleep on it. If you’re still head over heels about it through the night and the next morning, maybe consider taking the purchase more seriously that if not.
As always, if you find yourself in a situation in which you’ve spent all your monthly budget or have encountered some unexpected payments, consider applying for the loans in Arizona program that My Tio Rico has to offer. To learn more about our loan programs, including auto, personal, signature, or others, be sure to contact us today or fill out the application to the right