How to Break That Impulse Buying Habit

We're all guilty of splashing out on things we don't need whether it's a new bag, a new pair of jeans or concert tickets. We all work hard for our money so we deserve to occasionally indulge but when those occasions become more frequent and we end up spending too much – this is when problems can arise. Here's how you can reign in that spending without missing out on the things you love:

Find out Where Your Money is Going Each Month:

The key to getting your spending under control is to understand where exactly it's going. Have a look over your previous bank statements – you could try breaking your outgoings down into categories like groceries, bills, clothes, eating out and impulse buys. This will give you a clear idea of how much money you're spending and on what.

Another way of keeping track of your spending is to keep a record for a week or two and note down everything you spend and on what. You'll be able to see where your money is disappearing to – it may be those clothes you buy here and there, is it those sneaky takeaways or is it too many lattes when you're on the go?

Create A Budget:

We all need a few luxuries in our lives, but like most things, we need a budget so we can splash out now and again. You need to work out how much money you bring in each month and then take off all your outgoings like direct debits, bills, groceries and any savings you have. The money that you have left over can then be yours to spend on what you like – just make sure you keep track of where that money is going and spend it wisely!

For those times when your money won't quite make it to the end of the month or if you want to splash out on yourself or your partner or maybe even surprise your kids with something special there are financial solutions available.