These are notes from a finance class offered at the church. Any misinformation is the fault of the note taker.

– Show control and we can take care of long-term financial goals.
– If we anticipate an emergency we don’t prepare.
– Subject to instant gratification
– We have a Selfish and short-term mindset.
– We are vulnerable to Impulsive buying
– Comparing ourselves with others.
– We make an impulse purchase.
– We need to understand why we respond impulsively.

How to avoid impulse buying

– Leave money and credit card at home.
– Call your partner before the purchase.
– If you plan to buy something. give yourself a budget. i.e. shoes no more than $25.
– Resist going to areas of temptation.
– Some will make themselves go home and think about it and then decide.
– Track expenses to see if you have money for your big purchase. Both spouses are responsible for purchases.
– We need to be more content with what we have.
– One set of parents gave their 17 yr old a Mercedes car. What does that teach the child?

Do you have something to add? If you do, please share in the comment section of this blog.