Struggling with impulse buying is a problem most of us share, but for some of us, the fight to resist is a lot harder. There’s no need to worry though, because there are steps you can take to help you stop the impulse buying – and save your money for the more important things.

1. Being aware of “traps”.
Shops are crafty and know exactly what they are doing. You need to teach yourself to recognise the impulse buy traps, and take steps to avoid them.

For example, typically near the counter in most stores, there will be some small ticket items. These can seem like a great idea at the time, yet when you go home, it goes in the drawer and never sees the light of day.

Supermarkets will usually have chewing gum, breath mints and chocolate bars all handy by the counters. For a good price it’s too easy to be tempted – and maybe you meant to get breath mints anyway!

To help you avoid these traps, you first need to recognise them for what they are. At the supermarket, make absolute certain you have everything you need before you reach the counter.

In other shops, make it a rule that once you have approached the counter, what you have in your basket or hand is all you can buy. You can always come back later if you decide you really are missing out on a great deal.

2. Buying online.
Not only will you avoid the queues, you will be able to search for exactly what you need without being distracted by other items in store.

Most shops will allow you to return the goods if they are not what you expected, but generally the online descriptions are very accurate.

In the event that you have paid for an item that never arrives, a debt collection agency will be able to help you track and get your money back.

3. Printing a list.
If you are going out shopping, take the time to print a list of the items you are specifically looking for. So if your list says you need a new pair of pants: do not buy a skirt!

Try and stick only to the list in your hands. If you find this is too much of a struggle, have a bigger list, but prioritise the items.

For example, you can add “skirt” to the list – but you are not allowed to buy it until you have bought the pants that you actually need, and are higher on the list.

This will help you keep focused and give you a chance to think over a potentially unnecessary purchase.

4. Only take cash.
This can be a risky and sometimes inconvenient tactic, but it is certainly very effective.

Before you leave for the day, take out all your credit and debit cards and carry only a certain amount of cash that you have allocated for the day.

Knowing that this is all the money you have with you, means you will be forced to be very careful with it – whether you like it or not!

5. Shopping with friends.
It is all too easy to impulse buy and spend up large when there is no one with you to provide a voice of doubt or act as your conscience.

Take your friends shopping with you – even supermarket shopping if you need to – and let them know that you can’t buy anything that is not on your list. They will be able to provide you with the much-needed voice of reason that you yourself lack.

Lots of cash back charge cards present all the way to 5% cash rebates on expenditures at food markets, pharmacies, as well as gasoline stations, and 1% for all others. Various other charge cards using cash rebates give 5% incentives on charges for automobile repair, clothes, diy stores, plus much more.

A 5% cash rebates is the same as a good solid 5% price reduction on your shopping. If you use your cash back credit card for almost all of your buys and routine payments, that will end up as considerable discounts over the year. To optimize earnings, lots of people decide to get more credit cards for family members , so they receive cash rebates on all household payments.

Sometimes, you don’t earn the full cash back on your charges until after having a certain amount of expenses. Various other credit cards place a restriction on the maximum earnings you can acquire each year. The actual rewards on the cash back visa card may run out after a specific number of calendar months, or unless you use your card for a while. Exactly how your earnings can be used sometimes varies from charge card to card. Look at the terms of the particular card you will apply for and make a record of some of the most important guidelines, so you’re able to follow-up as needed.

Cash return bank cards are most profitable for those who pay up your credit card balance fully every month. If you are planning to maintain a balance on the card, you would possibly prefer instead to acquire one which comes with a low interest rate rate.

A number of cash back bank cards provide a zero annual percentage rate for an introductory period, or perhaps frequent flyer miles. Different kinds of cards offer many different types of perks. Along with credit cards intended for individuals, business credit cards that supply comparable advantages could also very easily be discovered.

If you are in the market to obtain a new credit card, you are in luck. The sheer number of credit card customers is reduced by eight million this current year, and card providers are in a ferocious competition for cardholder cash. This can be very good news for folks applying for brand-new purchasing or rewards credit cards and for current consumers, since a lot of card providers are sharpening discounts for both equally.

Start earning cash back on all your purchases with cash back credit cards. Or if you run a business, check out these small business credit card offers.

It includes regulating your expenses and purchasing products or things that you actually need. It is a proven way to safeguard your finances against rush buying, or buying products out of instant gratification without thinking that the product is not needed for your daily life.

Budgeting money is not difficult if you have the intelligence and the discipline to do it. In this article, you can follow few of the tips I listed below.

1. To begin with, you must to decide in advance where to use your finances. Recognize first, the things you need placing in the top the highest importance. For instance, food, clothing, cash to save, paying bills and others. Put ‘wants’ on the least priority like new phone or mp3.

2. Track and observe where you spend your finances. In this way, you will have an idea where your money went. You will have a data eventually which you can use to control spending. It is advisable to use Microsoft Excell to watch your spending.

3. It is good to determine where to buy foods, apparel or the consumable goods with the lowest price but with better quality. You may visit different grocery store to this chore. You can also buy products with lengthened expiration in bulk because it has a lesser price than retail products.

4. Limit family’s eating out in restaurants or fast food. Usually, it is better to have a meal in your home since you can control the taste and price of the food.

5. It is advisable to buy clothes, shoes and personal belongings during sale period in supermarket and shopping malls. It has lower price but you need to be sure it is also of high quality.

In budgeting, your goal is to monitor your spending habits and limiting your purchases on the things unnecessary to your everyday life. By doing budgeting, you will be able to save more money and use it properly.

Gil Tenorio is a personal money blogger who loves blogging on financial management, saving, investing and make money online. To get helpful information on how to budget and open a new savings account at Indian Bank, you can visit India Bank blog for more articles on saving, investing and online money making.

Unless you’re one of the lucky few for whom college costs nothing, reality hits you the day after graduation. For most young graduates, it’s a fact of life. On an envelope addressed to you, written in big, bold letters – REPAYMENT OBLIGATION. The clock is ticking on your loans and adulthood is staring you in the face, deadpan as a cold cup of coffee.

Loan deferment usually last six to nine months after you graduate before repayment begins, which gives you time to find a job and get a budget established. However, with unemployment soaring and companies preferring experience over qualification, the first difficulty you’ll face with your loans is finding a job. The good news is that finding a job is the hard part. The bad news is that even if the job pays well, loan payments tend to drain your income.

There is a good way and a bad way to go about repaying your loans. The key word here is budgeting. A good budget can make the difference between a down payment and a default. And fortunately, budgeting is just as easy for an Economics major as it is for a B.F.A.

Create a budget map.
Using software like Quicken or Excel, create a list of all of your expenditures and total amounts owed. Do this on a monthly scale, since most of your payments for anything are on a monthly cycle. Once you have everything written out, you can see what your minimal financial obligations will be. Compare this to the amount of money you have coming in and see where you can save and where you can splurge.

Target your highest-interest loans.
Assuming the amount of money you are making per annum is greater than the amount you owe, use a determined amount of that extra money to make additional payments on your highest interest loans, since these cost the most over time. Pay off credit cards first, since these usually have the highest interest rates, and never use a credit card to make a payment on a different loan.

Use a debt-snowball payment schemata.
The way a ‘debt snowball’ system works is that after you’ve paid off one loan, use the amount you’ve been paying to that loan and apply it to the next loan on the list. Your monthly expenditures stay the same, but your debts get paid off faster and faster.

Plan for yourself.
Though you are obligated to your loaners, you are obligated to yourself first. Budget in money you can contribute to a 401(k), or just save money on the side ‘just in case.’ There is a future after debt, and with careful spending and conscientious spending, you can live freer, sooner (and maybe enjoy having a college degree).

The important thing with budgeting is to not get overwhelmed. Don’t forget to save and spend, but do so conscientiously. Wise budgeting leads to a lighter financial future.

Becoming a parent means getting your financial house in order. While you could let your finances slide a bit when you were single, you now have people depending on you. Doing some basic financial planning today can mean the difference between making your golden years happy and productive or stressful and uncertain. Whether it’s your your mortgage, insurance, or savings, every aspect of your finances should be reviewed to make sure your family is safe and secure.

Here are the 8 most important financial steps you can take for your family:

1. Buy life insurance. When you were a swinging single you didn’t have to even think about life insurance. Now that you have a family that’s depending on you, it’s imperative that you and your spouse get a life insurance policy. Term life insurance is usually sufficient and you want to make sure you get enough that your family can continue to live comfortably if you pass away, so think about at least $500,000 in coverage. If you’re healthy, term life insurance is not a huge monthly cost and it can really put your mind at ease. Use one of the many life insurance comparison websites to instantly get a rate quote.
2. Build up a rainy day fund. Life is unpredictable and having a family multiplies that unpredictability. Unforeseen medical expenses, automotive costs, or even natural disasters can quickly put a dent in your monthly budget. Take the time now to sock away at least three to five months worth of living expenses and put that money in a savings account that is accessible. But remember – this is emergency money only, so don’t go blowing it on a big vacation.
3. Review your health insurance. Medical expenses are eating up an increasingly huge chunk of the average American family’s income. It’s time to review your health insurance to make sure you have enough coverage and that your deductible isn’t too high. If you have children, chances are you’re going to the doctor on a regular basis. While having a high deductible is a good way to save money on health insurance while you’re single, frequent doctors visits will mean a lot of money out of your pocket. Review last year’s medical costs, see how much you had to pay, and adjust your deductible accordingly.
4. Buy a house. Although the housing market has been in a tailspin for the last several years, buying a house has traditionally been one of the best investment vehicles for families over the long term. Take advantage of today’s historically low interest rates to lock in a lower cost 30 year fixed mortgage. While it might feel like a stretch to pay for it now, chances are in 30 years you will be very happy about making the decision to buy.
5. Start a college fund. Sure, when your kids are toddlers college can seem like a lifetime away. But the years pass by faster than you can imagine, so start saving up for college now. Putting away even a small amount every month or quarter can allow the power of compounding to take hold and build up your savings over the long term.
6. Get a will. No one likes to think about death, but if it happens your family needs to be ready. Having a will prepared does not have to cost an arm and a leg – ask around to see which lawyers specialize in this type of work.
7. Plan for retirement. Saving for retirement on top of all your other family expenses can seem like an overwhelming burden, especially in the current rough economy. But like starting a college fund, time is your friend. The sooner you start saving, the longer your money will have to grow. Make sure you take full advantage of any 401k plans offered through your work.
8. Create a budget and track it. You can’t control your expenses unless you know exactly where your money goes each month. Use a program like Quicken or Mint.com to track your expenses and see what the trend is. Are you spending too much on entertainment or groceries? Find where the big expenses lie and figure out ways to cut back. You can also use these programs to monitor your budget month to month. The nice thing about a program like Mint (which is free, by the way), is that your accounts are linked together so there’s little to no manual entering of data. Login at anytime to check how close to your budget you are.

While these eight steps may seem like a huge amount of extra work, you don’t have to do them all at once. Take one item from the list to complete per week and eventually you will get through them all. By the end, you’ll know much more about your present financial condition and will be able to successfully plan for the future.

photo credit: Sukanto Debnath