Impulsive Buying Hurts Your Finance

Augusta

VIP Contributor
Do you go on shopping spree, buying what you never wanted to buy? You might feel good at that moment but later you would realize that you are during your income now and hurting your future finance. So how do you hurt your finance?

You will have no savings:

You might not have money for future use

Overspending:

You are exceeding your budgeted funds for the period; it might leave your account in red

Be in debt

With no money left, you might go borrowing and of course, the after effect is seeing yourself in debt

Lack money

Impulsive buying will always leave you lacking money for immediate needs
 

Alexandoy

VIP Contributor
In another thread I admitted my overspending sometimes. But I am not an impulsive buyer but my wife. That is sometimes my problem that she would be buying a lot of chocolate bars because it was on sale. We cannot finish 10 bars of Hershey's or Cadbury so what I would do is to give away some to the neighbors or to our relatives who are living nearby. There was a time that she bought a kilo of prawns that was way too expensive which really made me angry. She said she had wanted to eat prawns.That impulsive buying can only be curtailed if I am with her because she knows that I m guarding her against impulsive buying.
 

Chirunim

New member
Impulsive buying hurts finance for real, I can't tell how many times I got stuff and ended up having regrets when I got home, but then when I saw it at the shop I really liked it and was attracted.

I remember one time I went to the market in Mile 1, Port-Harcourt, Nigeria, to get shoes. I intended to get just shoes so i went to the ATM to withdraw, after I got the shoes, I saw a belt I liked, small money, I got it, then I saw a wrist watch, then I saw a long sleeve, and then I didn't even have enough money for transportation. Dramatic!??

Compulsive buying is not good!
 

Kingsley

Valued Contributor
yes impulsive buying is one of the root cause of poverty, it makes us to buy things that we dont really need, when we buy those stuffs at the end we realise that we have just spend unwisely, and have wasted our resource. It is indeed terrible because it destroys our resource. Before we might realize what is happening we will go broke.
 

Victor001

Active member
Do you go on shopping spree, buying what you never wanted to buy? You might feel good at that moment but later you would realize that you are during your income now and hurting your future finance. So how do you hurt your finance?

You will have no savings:

You might not have money for future use

Overspending:

You are exceeding your budgeted funds for the period; it might leave your account in red

Be in debt

With no money left, you might go borrowing and of course, the after effect is seeing yourself in debt

Lack money

Impulsive buying will always leave you lacking money for immediate needs
Impulsive buying is one money consuming factor that seems negligible,but it's very important.self control as a person or organization is important,if one stays to accumulate expenses on impulsive buying they might feel regrets,it's a habit that can't be stopped abruptly but can be managed and self discipline will take it.
 

Augusta

VIP Contributor
Impulsive buying is one money consuming factor that seems negligible,but it's very important.self control as a person or organization is important,if one stays to accumulate expenses on impulsive buying they might feel regrets,it's a habit that can't be stopped abruptly but can be managed and self discipline will take it.
That's it implusive buying needs one exhibiting self control, since it is a habit that sometimes we just have to break. Shopping spree can be addictive since it an enjoyable thing and it an interesting one. To deal with this it needs determination. When once one is determined it is done
 

Godslamp

Active member
impulse buying defined as “an unplanned purchase which is aroused in the store and it changes the shopping patterns of the buyers and it’s an unplanned purchase decision that is made just before a purchase. Impulsive buying has a bad effect on savings because You often buy things you don’t need. You may already have something similar and it can lead to needless spending
 

Augusta

VIP Contributor
impulse buying defined as “an unplanned purchase which is aroused in the store and it changes the shopping patterns of the buyers and it’s an unplanned purchase decision that is made just before a purchase. Impulsive buying has a bad effect on savings because You often buy things you don’t need. You may already have something similar and it can lead to needless spending
Yeah shopping spree enable mindless and endless spending since one is buying at sight. Whatever one sees is what one is buying which is a bad way of spending money. This to a large extent hurt the finance of anyone so to deal with this one needs to spend money mindlessly
 

Maphalle

Member
Impulsive buying can frustrate you for the entire month. Lack of self-discipline, planning and budgeting is very dangerous in spending because you will go for shopping spree without planned what to and not to buy then you'llbuy even things that you don't need and it will be money wasted.
 
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