We all love to shop. Shopping can be therapeutic, informative and fun. But sometimes this fun activity leaves our bank accounts high and dry. That happens when we fall into the trap of impulsive shopping.

Do you often buy stuff not on your shopping list when you go to the store?
Do you see many shoes and clothes in your closet that have not been worn more than once or twice?
Does your credit card bill surprise you every month?
Does your spouse complain that you spend too much?
Do you go to the store without a list coz you will remember all the things when you see them?

If you have answered yes to most of these questions, you suffer from the impulsive spending syndrome. This means that you are indulging in shopping as a recreational activity. We all have the urge to splurge. And it is OK to pamper yourself once in a while. But it is not OK when recreational shopping becomes a habit or a way of life.

Controlling The Urge To Splurge:

The first and foremost rule of intelligent shopping is to list all the required items on paper. When you go to the store armed with a list, you will go to the exact spot where your stuff lies. You have to control the urge to loiter around and browse. Browsing may seem harmless, but you may not be able to control the urge to buy that new gadget/skirt/mug/anything else on display.

Even though the first rule cautions you against browsing, it is quite likely that you cant avoid just looking. So the second rule is to make a prospective list for your next shopping trip. Whenever you see something that seems absolutely necessary, you add that item to this prospective list.

You cannot have more than four items on this list at any time. So if you think of a fifth item that you need, you have to strike one off from the list before you add the next item. When you think about it later, and probably discus with your spouse, you may find yourself striking off some items from the list.

Try to use your credit card as rarely as possible. When you go shopping, try to pay in cash. Paying in cash drives home the reality of having spent money, whereas paying by card doesnt.

Try not to go shopping with your friends. Shopping with friends drives you into a shopping frenzy that feeds off your friends impulsiveness as well as yours.

Draw up specific financial goals for the long term as well as short term. These could include buying a house, buying a car, paying off a debt, making some investments etc.

Keeping in mind your short-term and long-term financial goals, make monthly budgets. Keep an amount for unplanned purchases. Use this amount as the limit for any unexpected shopping you may indulge in.

You also need to distinguish between wants and needs. Advertisers would have you wanting to buy everything available in the markets. But it is in your interest to go shopping with your head firmly planted on your shoulders.