This week I'm going to talk about Impulse buying! We've all gone into the store to buy a jug of milk or pay for gas and come out with multiple items because the price was good or you were going to die if you didn't have that soda pop or candy bar. I will freely admit that I WAS one of those people.
I work in the oilfield, and every morning I gas at the same gas station, as I'm gassing I watch the same people day in and day out come out with at least a bag of food, sometimes two. I'm guessing they are at least spending $10.00 a day. $50.00 a week and well $200.00 a month. To me that's a lot of money I can do other things within my budget. (I can accelerate another bill pay off!)
Don't get me wrong, it's not wrong to go buy a soda pop every now and then. That's why we pay ourselves with the pay yourself fund. You can do whatever you want with your allotted money. (Just remember I don't condone anything illegal.)
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I know a person who see's something on sale and thinks that it means BUY ME, it doesn't matter if it fits or not, even if it's a food product it can actually be expired, this person buys it. This is also called impulse buying and it can lead to debt if not done with extreme caution. Just so you know just because it's on sale does not mean you have to buy it.
I have a good friend who I've known for years and love like a brother (I have quite a few of friends like that, I hope that's a good thing.) He called one day and said "Lets go to lunch!" I said "OK" Well this friend knows I operate on a budget to become debt free. So we met at a local fast food joint, he ordered, I did not, we sat down, he started eating his food he ordered and I broke out my awesome Peanut Butter and Red Plum Jelly Sandwich. He just laughed (I think he was embarrassed). I didn't care what people thought, I had already brought this sandwich and thought I'm going to eat this because I don't want to impulse buy and I'll be saving money in the end. I told Cowboy about this and he actually sent a text to my wife and said he was laughing and couldn't believe it. We still laugh about it!
Use your money wisely, don't let the impulse buys get you off budget. I think I've said this before and I'm going to say it again, the stores are set up by marketers to get you to spend more than you planned for, I know those 4 for a $2.00 Reese's Peanut Butter Cups are hard to pass up sometimes but you can do it!
COWBOY UP
AND
FIRE YOUR DEBT!!!!
BOOK RECOMMENDATION
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This post I want to suggest, The Millionaire Next Door by Thomas J. Stanley and William D. Danko, this has become one of my favorite books. This talks about a study done over several years about what a real millionaire is like and the habits they actually use on a daily and yearly basis. Where they shop, what they buy, etc. It's a very good insightful book. It debunks what we are sold by media and celebrities. I have a co-worker who called for something one day and and we got talking and he said have you read The Millionaire Next Door? I said of course and we talked about this book for several minutes, so if I have had other people love it, I think you'll love it too.
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