How to Limit Impulse Holiday Buying and Recover Lost Money

Regular Buying on Impulse will skyrocket any type of Money management system. If you are one of those shoppers who finds, too often, that items you don't need have just followed you home from the store, then you're one of many millions of people who have the "Impulse Buying Syndrome."

Amazingly over 40 percent of all in-store purchases are completely unplanned. If you spend $50 a week in the grocery store, there's a good chance at least $20 of that will go for impulse items. That's $1,040 a year!

Retail-merchandising techniques encourage impulse buying and certain products are sold largely on their impulse appeal; it is no accident that such items as candy, batteries chewing gum are displayed at the checkout counter.

If you carefully plan your shopping in advance (make a list and stick to it), you're much less likely to react on impulse. Another proven way to combat impulse spending simply is to pace yourself when shopping, especially the during the holidays.

Before making a major purchase, it is essential you research the product and have an idea on what the item should cost. setting a fixed amount aside (mentally or actually) for that particular purchase.

Before making a purchase, ask yourself:

1. Do I really need this item?

2. Can I really afford it?

3. Have I done enough comparison shopping?

4. Is now the best time to make this purchase?

5. Should I pay cash or go into debt on the
installment plan?

6. Should I use my credit card?

7. Is there a less expensive way to borrow the
money?

A prime time to shop for many expensive consumer goods is always after Christmas. Big post season sales start in January, but February can be even better for shopping. It's in February that consumers begin to receive their deferred-payment bills for goods that they charged at Christmas. They make a point NOT to go shopping. Most retailers anticipate the corresponding drop in sales and mark inventory down to keep it moving.

This is When You Make Your Move!