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Impulse Spending

Impulse spending is when we buy something without really thinking about it or considering if we really need it. It's easy to get caught up in the excitement of seeing something we like and wanting to buy it right away, but making impulskide purchases can quickly add up and cause us to waste our hard-earned money.

Here are some tips to help you manage and control your impulse purchases:

  • Make a list: Before you go shopping, make a list of the items you need to buy. Stick to your list and avoid buying things that are not on it. This can help you from getting distracted by tempting items.
  • Set a budget: Decide how much money you can afford to spend before you go shopping (you may need help from a trusted adult for this step). This will help prevent you from overspending and making impulse purchases that you may regret later.
  • Wait before buying: If you see something you want to buy, try waiting for a day or two before making the purchase. This will give you time to think about whether you really need the item or if it's just a spur of the moment decision.
  • Compare prices: Before making a purchase, compare prices from different stores or online. You may find a better deal somewhere else or realize that the item is not worth the price.

Avoid shopping when bored or upset: Try to find other activities to do instead of shopping, such as reading a book, playing outside, or spending time with friends.

It’s important to think carefully about your purchases and make wise decisions with your money. By following these tips, you can learn to manage and control your impulse purchases and become a smart saver. Keep up the good work!

 
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