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Curb Impulse Purchases to Save Money

If the household budget is stretched, cutting costs without added hardship can be difficult. Consider curbing impulse purchases as a path to finding more dollars. You could save over $5,000 a year by decreasing this behavior. Impulse purchasing is the tendency to engage repeatedly in spontaneous, on-the-spot purchases without consideration of the potential consequences. Sixty-four percent of us do it. The risk of an impulse purchase begins as soon as you enter a store, not when you see the item of interest. Most impulse purchases are groceries, not clothing.

Try these tips:

  1. Shop with a buddy.
  2. Use cash.
  3. Gain control and insight from two studies:

The Life-Work Connections Employee Assistance Program is brought to you by Well-U, helping eligible individuals to assess issues, and provide short-term counseling and referrals.

Keith Stein | 7/23/2020

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