Tiffany Aliche, a financial educator, shares advice on how to manage impulse purchases without derailing your long-term financial goals. She emphasizes the importance of budgeting, including allocating funds for fun and enjoyment, while remaining mindful of responsible spending habits.
We've all bought things we don't need: that candy bar at the grocery store checkout, those aspirational ice skates weUnnecessary spending looks different for everyone, but regardless of our financial situation, we could all stand to stretch our dollar a little further. Tiffany Aliche,How To Say No, For The People Pleaser Who Always Says Yes
"Get a clear visual picture of what your money is doing now. The rule is, if it's not written down, then it's not a budget," Aliche says. To keep those priorities straight, Aliche says she has a sticker on top of her computer that says,"need it, love it, like it, want it." And before hitting that purchase button, she wants to make sure that what she's buying is a"Likes are short-term joy. That means less than a year, I'll have forgotten about this thing," she says."Wants are just instant gratification where not even a day later, I'm not going to be interested in this thing.
When you're strapped for cash, you should be able to cancel your cable or Netflix subscription and switch to ramen noodles before tapping into your savings or retirement savings."Focus on your budget now and what you can do now, so you don't take from your future," she says.And if spending is still an issue, Aliche has a suggestion: First, cut up your credit card.
Budgeting Impulse Spending Savings Financial Education Personal Finance
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