Impulse Spending

Avoiding Impulse Spending


Answer these questions truthfully:

• Does your spouse or partner complain that you spend too much money?

• Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?

• Do you have more shoes and clothes in your closet than you could ever possibly wear?

• Do you own every new gadget before it has time to collect dust on a retailer’s shelf?

• Do you buy things you didn’t know you wanted until you saw them on display in a store?

If you answered “yes” to any two of the above questions, you are an impulse spender and indulge yourself in retail therapy.

This is not a good thing. It will prevent you from saving for the important things like a house, a new car, a vacation or retirement. You must set some financial goals and resist spending money on items that really don’t matter in the long run.

Impulse spending will not only put a strain on your finances but your relationships, as well. To overcome the problem, the first thing to do is learn to separate your needs from your wants.

Advertisers blitz us hawking their products at us 24/7. The trick is to give yourself a cooling-off period before you buy anything that you have not planned for.

When you go shopping, make a list and take only enough cash to pay for what you have planned to buy. Leave your credit cards at home.

If you see something you think you really need, give yourself two weeks to decide if it is really something you need or something you can easily do without. By following this simple solution, you will mend your financial fences and your relationships.


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THE SECRET

Scientists have proven over and over that universal laws work each and every time. For example, the Law of Gravity works every single time. You drop a brick. It hits the ground very quickly. (Watch out for your toes when you do this!) It doesn't matter if you believe in the Law
of Gravity, it still applies to you.

Just like there's a Law of Gravity, there's a Law that determines what you get in life. That Law has been working for - or against - you since you were born.

You may not have known about the law. Might not have paid attention to it. Might not care
about it. Might not even believe it's true.

But this Law applies to you anyway.

If you're not getting everything you want out of life, then the Law is definitely working... it's just not working to your benefit.

What's that got to do with investing you ask? Well it has everything to do with money and investing because the richest people in the World know this secret well. So well that they keep getting richer.

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TAX TIME

It's tax time again and guess what you will be paying far too much tax again if you don't educate yourself. The internet is now full of information on this subject but can you trust the information you are reading. Last Tax year I purchased a book called "The Tax Solution", this book is written by Lance Spicer, Lance worked as an accountant for many years and the information he gives in his book is the best solution for anyone who have to pay tax and your accountant can't offer you any more legal ways to assist you with reducing taxes, you've read tax books before and they are too technical and boring, you want to know how the rich can get away with paying less tax than you, you're not necessarily a "financial" person who understands accounting jargon, you don't want to break the law - you want legal strategies and you want to reduce your tax to the absolute legal minimum. This book is about 100% Legal Ways to Reduce Your Tax.

Here is a tip:

Did you know that you don't need to make cash contributions to a superannuation fund to claim a tax deduction. Assets such as shares or business real property may be transferred to a superannuation fund by an employer and a deduction claimed for their value. Watch out for stamp duty costs and make sure the contributions are made before the end of the financial year to claim a deduction.