Impulsive spending can wreck havoc with your budget. A British survey by the energy company npower, showed that men spend about $41.00 per week on impulse purchases, while women showed a bit more control with spending of $30.00 per week.
A more recent survey by Slickdeals.com puts the yearly figure much higher – $5400.00 a year on impulse purchases! That is over $100.00 a week. That is a stunning amount.
According to SlickDeals, the top five common impulse purchases are:
1. Food and Groceries
2. Clothing
3. Household goods
4. Takeout food
5. Shoes
An impulsive purchase is a purchase that is unplanned and is often for the purpose of making the buyer feel good. Usually the purchases end up unwanted or unused.
Even if you fritter away only $25.00 a week, you have wasted $1,300.00 in a year. What could you do with $1300.00?
How about you? How much do you figure you are spending on impulse purchases each week? Each month? Each year?
Most likely you are spending money impulsively and are not even aware of it.
Learning to reduce the amount of impulsive spending can make a big difference in your financial future.
Read The Fat Dollar’s article Impulsive Spending – Or How Not to Spend Money