Monday, December 29, 2008

Stop your addiction to spending

Have you ever been in the store and saw the person in front of you looking at a magazine, paper or candy, which is easily available? They did not plan to buy, but an announcement or a catchy phrase compelled them to. It is an impulse purchase. To buy without thinking, this is an impulse, and it is not necessary. Do not spend all your hard-earned money on products or meaningless items that do not help you make money! Stop making impulse purchases right now and start saving! Failure to do so is very similair to failure to quit smoking.

You are addicted to something detrimental to your future and without much positive merit at all. Just like smoking, the feeling isn't great, but you simply are in the habit of indulging in it. In fact, if you are a smoker, one of the first things you could do to free up your money is to quit this destructive and nasty habit! Your money is money, not someone elses. You have the right to retain it. You don't need to add all your money to the balance sheet of huge companies. Why don't you add it to your own balance sheet? Instead of spending all your money on electronics, movies, cds, videogames etc. you should learn to purchase only those indulgences which provide the most value. Become much more selective about which products you buy. You don't need to become a cheap miserable person to save a significant amount of money monthly, freeing you to be able to end each month with a significant positive gain to your bank account.

Learn to spend more of your time on things which have a positive effect on you and are largely free. Borrow books from the library. Find out when the best tv shows are on and make an event of watching them. Purchase board games which force your family and friends to interact with each other strengthing your bonds and causing plenty of laughter and fun without requiring you to keep spending money on the latest diversion.
It is easy to forget that your money is your own, it does not have to constantly flow from you into the hands of someone else. We all must resist the temptation and wait until can really afford luxury things.

A dollar spent is a dollar you won't have anymore and you can never get back.

Destroy your credit card and get out of debt.

Credit card debt is a cancer that is spreading in American households. Credit cards give us an idea of the possibility that we can spend more than we have. Please get rid of your credit card and never use one again!

Credit cards are largely useless, and unneeded. They are one of the main obstacles in the way and financial wealth. They are full of traps which make you pay much more in the long term. How rich could you become in the long term if all the money for your credit card interest each month was invested?

A debit card can give you all the convenience of a credit card, with all the limitations of your bank. It is a good alternative. Just be careful because if a thief is in possession of your debit card they can drain your bank account and it may take longer to clear up the mess than with a credit card.
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