Got a cash flow problem? Financial expert Suze Orman examines why more of your cash is flowing out than in.
How Can I Stop Spending?
Q: How do you stop the impulse from shopping needlessly? The impulse plagues me, and it is so satisfying!
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Suze Orman:It may be satisfying, but I have to ask you: If you were to look in your closet, would you find those satisfying moments still hanging there with price tags on them?
They may be in the bags that you brought home the items in, or in the boxes that you've never unpacked. They are satisfying moments that are leading themselves to a totally unsatisfying life.
If you have to fill yourself up with the things that you buy, what that says to me is that you are defining yourself by what you have around you rather than you defining what you have around you.
There is a law of money. And the law is, money first, then things. But it sounds to me like you're valuing things before money.
Take a look around your house, be honest with yourself, go around with a little piece of paper and write down how much you paid for that satisfying moment, and how many times you actually used it.
Be honest with yourself when you open up your credit card bills that you cannot pay in full at the end of the month, how satisfying is that?
Are you truly satisfied or are you just placating yourself because you are afraid if you didn't have those things around you, you wouldn't know what to show to the world?
You are far more than the car you drive, the clothes you wear, the home you live in, but you have to know who you are.
And when people shop and it's an impulse, it's because they don't know the true pulse of who they are. Most likely, they're lost, and they think they're going to find themselves with what they buy. Think about it.