How can you manage your Impulsive spending:

Managing impulsive spending requires a mix of self-awareness, discipline, and practical strategies.

 Here are some effective ways to control it:

1. Understand Your Triggers

• Identify when and why you spend impulsively (stress, boredom, social influence).
• Keep a spending journal to track patterns.

2. Use the 24-Hour Rule

• Delay non-essential purchases for at least 24 hours.
• This gives you time to evaluate if you truly need the item.

3. Set a Budget & Stick to It

• Allocate a specific amount for discretionary spending.
• Use cash or prepaid cards to avoid overspending.

4. Unsubscribe & Limit Exposure

• Unsubscribe from marketing emails and social media ads.
• Avoid browsing online stores for entertainment.

5. Create Financial Goals

• Set short- and long-term savings goals.
• Remind yourself how impulsive spending affects these goals.

6. Use Technology to Help

• Set up spending alerts with your bank.
• Use budgeting apps.

7. Shop with a List

• Always make a shopping list and stick to it.
• Avoid shopping when emotional or hungry.

8. Find Alternative Rewards

• Replace shopping with non-monetary rewards (exercise, hobbies, meditation).
• Engage in activities that don’t involve spending.

Shervan K Shahhian