Description

[1:40] We've all had the moment when you see something you like, you want it and next thing you know your credit card is in your hand.

• Katie hasn't done any massive impulse purchases but it's super easy to just get something in your hand and be ready to pay for it.
• Impulse purchases are actually a very common thing, it can be expensive items.
• One of the biggest items is your personality - are you materialistic
• It literally becomes a habit and people start to expect you to have the latest stuff
• Be careful about the company you keep

[4:55] This is exceptionally relevant for people trying to get out of debt.

• Forming a habit, it starts compounding and adds up so quickly.
• 3 or 4 days later you've forgotten about your purchase and you end up spending more 

[6:21] So what are some of the best things you can do to control your impulse purchases?

• Be mindful of the company you keep - find someone that is trying to accomplish something with money
• It's easy to feel lonely when you're trying to pay off debt
• To combat impulse purchasing, create a waiting list - set a number of days, e.g. 30. You can't buy the item if you have to wait.
• Seeing the fine line between the value of something given the benefit
• Avoid using your credit cards
• Always remember what your goals are
• Start avoiding stores :)