"When you're dead, you're dead. That's it."Marlene Dietrich
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Talking To Your Parents
Dealing with your parents responsibly Most young adults today see their parents as the enemy. Parents are the ones who set curfews and rules and take away privileges when their rules aren't followed. What if there was a way to gain greater respect ...
Three Amigos
Direct Answers - Column for the week of February 23, 2004 I feel rather foolish writing this letter, but I need help. I am a 67-year-old man living on social security. My wife and I divorced, but I never lost my love for her. One day we ran into each ...
Top 20+ Reasons to Pay your Kid an Allowance
1. They can make mistakes under your guidance 2. They will learn how to save for the future 3. They will learn that money doesn't “grow on trees” 4. They will appreciate what they have 5. They will learn to make choices and set priorities 6. ...
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Impulse buying is simply defined as making an unplanned purchase.
This can be an extra pack of cookies when grocery shopping or
buying a car on a whim. Most of us are guilty of this at one
time or another. Even though the term is simple, it probably
accounts for the majority of money problems family's have.
Planning a purchase of any kind is absolutely necessary if you
intend to use your money wisely. That extra pack of cookies I
mentioned isn't going to break your budget, but with the prices
of groceries today, it doesn't take too many items to put a
dent in your grocery allowance. However, buying a car without
prior planning can get very expensive. Besides the obvious
things like finding the best purchase price and interest rate,
down payment, money for taxes and license, etc., you need time
to decide which car is right for your family.
The below list of tips may help prevent impulse buying:
If you see something you like, leave the store without it. Go
home and look at your budget. Then if you feel you can afford
it, go back. In addition, this will give you time to think about
whether you really need it.
Always go to the grocery store or dollar store with a list.
Buy just what is on your list. If you see items you would like
to have, make a note to put them on your list for your next
trip.
Always consider the entire price of an item before buying. In
my state, if you buy a car that costs $20,000, you have to pay
about 7% in sales taxes within 30 days of the purchase. That
$1400 may not be that easy to come up with.
I know that the above ideas takes all the fun out of spending
your money. Planning and budgeting are about as dull as watching
grass grow. However, a family that budgets their money and plans
purchases, will no doubt be able to make more purchases and feel
much better about it.
About the Author
Terry Rigg is the author of Living Within Your Means - The Easy
Way http://www.homemoneyhelp.com/ebookadpage.html and editor
of The FREE Budget Stretcher Newsletter and Budget Stretcher
web site http://www.homemoneyhelp.com. He has 25 years of
experience counseling individuals and families concerning their
personal finances.
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