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Resisting the urge to splurge
The occasional splurge purchase is a reality of life. However, if done too often, splurging on items will destroy our financial resources.
From time to time the need to indulge in some unplanned or extravagant desire arises. We may buy special gifts, treat ourselves to a lavish dinner, or spoil ourselves in some particular way. As human as these temptations are, we can’t live that way all the time or we will find ourselves running out of money to pay bills and take care of the essentials of life. Here are a few tips on how we can turn our spending around and resist that urge to splurge.
Understand your feelings
Many of us overspend when we feel down, or in an attempt to feel liberated in some way. Sometimes we even overspend trying to impress others. Before we give in to the desire to splurge we should always stop and focus on what’s the real emotion driving us. Putting serious energy into understanding our feelings allows us to be better prepared to resist temptation the next time it rears its head.
Consider the context
Before we splurge or make a spontaneous purchase it’s important to think about the overall financial circumstances of your life. In fact, to know whether you can spoil yourself or not, one should do a financial checkup before splurging. So for example, thinking about our ability to pay our bills, achieve our financial goals, or whether splurging in that moment could saddle us with unproductive debt are all reasonable element to consider. Often times considering the cumulative effect that splurging can have helps stave off that spending spree.
Wait before you buy
When the need to splurge comes on it’s wise to create some distance and time before making such a purchase.
Whether it’s 24 hours, two days, or a week, giving yourself time to determine how valuable such spending really is to you can help keep you out of financial misery. Often times, delaying gratification is the best way to avoid splurging altogether.
Being creatures of emotion means from time to time the desire to splurge on ourselves will arise. Ultimately, it’s important that we manage those emotions and stick to our financial goals to resist temptation and live well beyond payday.
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