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Life, Love, & Money
With Kimlee
Long Island Advice
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 Welcome~
Life,
Love and Money are all such essentials in the regular day-to-day…
When
was the last time that you did or didn’t think about your life, love or your
money? What is life without love?
How about life without money? What is going on in your life? What
would you like to share? Do you need some advice?
Let me hear what is going on in your day-to-day…
~Kimlee |
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EDITORIAL OF THE WEEK
Friday, September 1, 2006
Author: Kimlee, Financial & Advice Specialist
Are You an Impulse Buyer?
Impulse buying is simply defined as making an unplanned purchase.
This can be an extra pack of cookies when grocery shopping or buying
a car on a whim. Most of us are guilty of this at one time or
another. Even though the term is simple, it probably accounts for
the majority of money problems that many people have.
Planning a purchase of any kind is absolutely necessary if you
intend to use your money wisely. That extra pack of cookies I
mentioned isn't going to break your budget, but with the prices of
groceries today, it doesn't take too many items to put a dent in
your grocery allowance. However, buying a car without prior planning
can get very expensive. Besides the obvious things like finding the
best purchase price and interest rate, down payment, money for taxes
and license, etc., you need time to decide which car is right for
your family.
The below list of tips may help prevent impulse buying:
- If you see something you like, leave the store without it. Go home
and look at your budget. Then if you feel you can afford it, go
back. In addition, this will give you time to think about whether
you really need it.
- Always go to the grocery store or dollar store with a list. Buy
just what is on your list. If you see items you would like to have,
make a note to put them on your list for your next trip.
- Always consider the entire price of an item before buying. In most
cases if you buy a car that costs $20,000, you have to pay about 8%
in sales taxes within 30 days of the purchase. That $1600 may not be
that easy to come up with.
- I know that the above ideas take all the fun out of spending your
money. Planning and budgeting are about as dull as watching grass
grow. However, a person that budgets their money and plans
purchases, will no doubt be able to make more purchases and feel
much better about it.
 have
the courage to question & challenge the status quo... refuse to
accept "traditional" thinking and answers as fact....
~Kimlee
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