A recent study by the Federal Reserve showed that about 43% of U.S. families spend more than they earn, and these statistics are increasing at an alarming rate! With technology today, it’s becoming easier to buy what you want, when you want it! Take the New York based company ShopText for example. Their mobile shopping (or m-commerce) technology allows customers to purchase products from advertisements nationwide by simply sending a text code.

With purchasing power now literally at your fingertips, it’s easier to fall victim to impulse shopping. Before I saw the errors in my financial ways, this was one of my biggest flaws. I would see something I just had to have, convince myself I needed it, and next thing you know I was standing in line. It felt great at first, but the newness eventually wears off and reality sets in. Here are some techniques I used that helped me shake my impulse shopping addiction…

• Lose the Credit Card: Take your credit card out of your wallet or purse if you’re constantly giving in to impulse purchases.

• Wait a Week: If you think you need something, wait a week before buying it. If after a week you still feel you need it, you might consider adjusting your spending plan to make room.

• Find a Replacement: Instead of keeping up with the Joneses, try finding a more productive addiction. I replaced mine with watching my ING DIRECT Orange Savings Account grow (I really am addicted; you can actually check your interest earned daily)!

If you want to see any results you’re going to have to make some lifestyle changes. For a great compliment to this article read How Shopping Momentum Leads to More Shopping on Get Rich Slowly.

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