Sunday, December 20, 2009

Don't Go Shopping When You're Bored

Don't use weather conditions, laziness, an argument, revenge, unemployment, lack of imagination or lack of a plan as a reason to go shopping. If you are bored that last thing you should do is going shopping because you will end up spending money that you may not have and buy things that you probably don't need simply because you don't know what to do with your bored self.

Shopping when you are bored can lead to bad spending habits. It can cause you to go into debt, become an impulse shopper by shopping based on how you feel – happy, sad, depressed, bored, etc., and can cause you to influence your family and friends to follow in your footsteps.

Shopping provides temporary instant gratification that quickly fades away after a few minutes. However, some people feel that shopping makes them feel better. It can provide a temporary feeling of happiness but when you receive the credit card bill the next month the happiness quickly fades away and reality sets in.

When shopping online beware of the websites that provide sales to lure shoppers who are bored. The Ink Wood Books website had an "I'm Bored Sale",

If you feel you absolutely must go shopping when you feel bored take along an unwilling person such as a spouse or boyfriend. This will make the shopping experience unpleasant for you because and will hopefully prevent you from spending money or cause you to spend less money than you anticipated and hopefully get you out of the mall quicker.

Here is a list of twelve things to do when you are bored that will help improve your financial life.

1. Hire a financial advisor
2. Set financial goals for the next 3-5 years
3. Create a weekly or monthly budget or spending plan
4. Setup a debt payoff plan to pay down debt
5. Create an emergency fund to cover bills for 9-12 months
6. Keep track of how often you use your credit card instead of paying with cash
7. Sign up for your employer 401(k) plan if you haven't already done so
8. Contribute 10-20% each month towards savings and investing
9. Read a self-help book on personal finance or investing
10. Watch a personal finance or investing show on tv
11. Subscribe to a personal finance magazine, newsletter or blog
12. Each month do one thing to improve your spending habits

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