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Avoid Impulse Spending with Intentional Shopping

Impulse purchases can be a major drain on your finances, especially when you're still in high school and may not have a steady source of income. Here are some tips to help you plan and make intentional choices to avoid falling into the trap of impulse spending:

  1. Plan for the future: Take some time to make a list of all the things you want to spend money on in the coming weeks and years. Your list can include things you do, like going to the movies with friends, small things yougirl want to buy, like a new video game or a new outfit, or large ticket items like a car or vacation. Setting your priorities now makes it easier to say no to spending that doesn’t fit into your long-term plan.
  2. Create a budget: Determine how much money you have coming in each month (from allowances, part-time jobs, etc.) and how much you need to spend on essentials like food, or transportation, how much you want to save, and how much is left over for discretionary spending. Knowing what you have to work with makes it much easier to say no to things you don’t really need.
  3. Don’t let your emotions get the best of you: Emotions can cloud your judgment and lead to impulse spending. If you're feeling stressed, sad, or even excited, try to avoid shopping or other activities that cost money. Take some time to cool off and assess whether you really need what you're considering buying.
  4. Wait before making a purchase: If you see something you really want to buy, give yourself some time to think it over. Set a waiting period, such as 24 hours, before making a decision. This will give you the opportunity to evaluate whether the purchase is a necessity or just a passing desire.
  5. Pay with cash: It's easier to overspend when you're using credit cards or electronic payments such as Venmo or Paypal, because you may not feel the immediate impact of your purchases. Consider using cash as this will make you more aware of how much you're actually spending.

Being intentional with your finances now will set you up for a more secure financial future!

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