Reducing debt or consolidating debt is nearly impossible it you are or your partner is an impulse buyer. What exactly do we define as an impulse buyer? The simple definition would be a person who makes unplanned purchases.

Most of us all fall victim to making a purchase we never planned on somewhere along the line. Buying things without planning can run from picking up an extra package of cookies at the grocery store to buying a car with all the extras.

Impulse buying is another term for unplanned expenses and it could be what accounts of a majority of the financial problems found in families today. If you want to get out of debt and manage your money wisely, you must begin to plan your purchases.

The extra bag of chips or cookies may not send you to the financial poor house but with food prices and fuel cost today when totaled up those small expenses over a year and they can turn into thousands of dollars.

Purchasing a car without proper planning can get expensive quickly. We all want the best deal, interest rate and lowest down payment. But, you first need to decide what you and your families needs truly are. Then shop for the best deal. Someone on the road all day long has a much different requirement than a mom hauling around kids.

Here’s a few tips to prevent impulse buying:

• Always go to the grocery store with a list – Buy from the list. If you see extra items you want the next time you are at the store – write them down, put them on your list for the next grocery shopping outing.
• If you find something at the store you really want – don’t buy it. Go home and write it down. Keep a list of “Must Have Items.” Wait 30 days. If you still want it and can afford it, consult your budget and buy it if it works in your budget. The allows time for you to access if it is a need or a want.
• Look at the Total Cost of a Purchase – When buying a car you must include tax. On a $20,000 purchase at 7% that’s an extra $1,400. Also new cars and special models may raise the monthly insurance cost. Gas mileage and operating is also something to consider.

The tips above may look like they take all the fun out of money. But planning where you spend your money is you taking control. It’s you telling your money where it is going to go before you spend it.

Planning and budgeting are not a sexy topic. However, when you plan your spending you’ll be able to enjoy your money much more. Don’t believe me – Try It!