How I Slayed the Dragon of Impulse Buying

I am a queen. No, not the royal kind of queen. Not Queen Latifah. And not even a Diva of any sorts. I don't own an island. I don't even own a large company. I am merely the Queen of Impulse Buying. Don't get me wrong, I don't drive an expensive car. I don't splurge on Coach Bags or Jimmy Choo Shoes. And I don't ever shop at jewelry stores. Instead, I seem to fritter money away, bit by tiny little bit, shopping clearance sales, Target's 75% off rack, and discount stores. I never realized how much money leaks out of my budget until I sat down and analyzed my online bank account. Where did all that money go? It seems like it magically vanishes into thin air. I decided it was time for a change...but not a big one. What I need is lots of tiny, little changes to plug all the tiny little holes in my castle's--I mean household's--budget. Here's how I slayed the Impulse Buy Dragon that's been threatening my castle.

I stay out of the stores. Does this seem like a no-brainer? During the cold winter months, I used recreational shopping to get out of the house. I was tired of being couped up, so I went to Target. What could be so bad about a trip to Target? Well, for one, every visit I found something I never knew I couldn't live without. Nothing big at all: a new eyeshadow, a pair of shoes on sale, a Matchbox car for my little boy, or t-shirt for my hubby. After all, they were on sale! But if I had just stayed home, I would have saved myself a handful of cash.

I ask myself, "Where will this item end up in a year or two?" If the answer is in a landfill, then I know I need to put it back. If the answer is in the basement, in a closet, or at the GoodWill Store, then it has no business going in my shopping bag. There's no point in spending hard earned money on something I'm not going to want in a few months.

I multiply weekly expenses by 52. So what if I spend $10 a week getting latte's at Starbucks? That's next to nothing. Until you multiply it by 52, and then I've got over $500 worth of cash that could have been in my bank account, or my vacation account, or nearly half of a mortgage payment. Those $10 really add up. What about a $5 lunch every day at work? That's about $100 a month, or $1200 a year. That's a lot of cash.

I divide the treasure by the number of hours I need to work to pay for it. That trendy, new shirt costs just $25, and that's not an extravagant amount of money for a shirt anymore. And I really will wear it often, so its worth it, right? But how many hours do I need to work for that shirt? Um, after you take out taxes, about two. Maybe more if it's a slow week. So I could have a new shirt - that I may or may not wear - or, I could spend those two hours playing with my son instead of working. Or spending time with my hubby. I consider those two things priceless. And when I compare having a brand, spanking new shirt to a little more time to spend with my guys, there is just no comparison. I have better things to do with my time - and my money - then to have something else to stuff into my already-full closet.

I avoid advertising. Everyone wants to sell me something Every magazine, every t.v commercial, every billboard I see while driving down the road. I try to avoid hearing those radio ads that tell me all about what the Joneses are buying next. And I don't really need to see what the latest and greatest popcorn popper looks like in the Sears catalog. If I don't see it, I don't need it. If I don't know I 'need' it, I just won't buy it. And THAT saves money.

Is the Dragon of Impulse Buys dead yet? Nope. Not at all. I still find a 'must-have' cookie jar or 'how-did-I-ever-live-without-that' toilet paper holder here and there. But that nasty dragon is mortally wounded. And I plan to finish it off this summer by living a simpler, less cluttered life. And that makes me much happier than spending my money on anything. What a happy queen, indeed!

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