Category Archives: Personal Finance

10 Ways to Nip Impulsive Spending in the Bud

Many Americans shop compulsively, which is probably why so many of us are looking for ways to curb our spending urges. You might have seen people stick their credit card in the freezer or leave their wallet at home when they go to the mall, just to avoid giving into the temptation of buying.

The problem with these techniques is that they don’t tackle the root of your impulsive spending problem: the way you’re thinking about shopping. If you think your spending issue is a short-term one, you can use 24Cash for a loan until your finances balance out.

Here are ten better ways to stop impulsive spending. The sooner you start implementing these techniques, the more control you’ll exert over your finances.

1. Don’t Quit Cold Turkey

As with any addiction, impulsive shopping is difficult to stop. Many people try to simply cut out the habit by taking away their access to money or promising not to buy anything for the rest of the month. However, studies have shown that “cold turkey” methods rarely work out for addicts.

Instead, focus on weaning yourself off of impulsive spending. Start by only allowing yourself to buy one thing on every shopping trip. Then, cut it down to one thing per week. Eventually, you’ll get to the point where you feel more in control of your buying habits. 

2. Make Yourself Wait

Don’t tell yourself that you can’t have that dress you spotted or those headphones you suddenly NEED. Instead, tell yourself that you must wait three days before you make the purchase. You’ll find that your desperation to buy the item may weaken over the waiting period. If it doesn’t, then you’ll be less likely to regret your purchase if you go back for it.

3. Beware the Traps of Social Media

Facebook, Instagram, Twitter, and all of your other favorite apps aren’t trying to help you save money. If anything, they’re begging you to pour more money into your favorite stores. Between the regular pop up ads for sales and the influencers who advertise products, your social media feeds are encouraging your bad spending habits. Consider limiting your time on these apps to decrease your urge to buy.

4. Tell Others About Your Goal

If you love shopping with friends, let them know that you’re trying to cut down on your impulsive buying. Everyone needs an accountability partner when they start changing their habits, and this case is no different. Ask them to remind you about your goals whenever you’re tempted to throw something in your cart.

5. Remember That a Sales Isn’t an Excuse to Buy

Just because something is 40 percent off doesn’t mean it’s something worth buying. Don’t let big sale signs or Black Friday throw you off track. Sales are especially dangerous because they encourage people to buy impulsively rather than intelligently, so beware.

6. Make a Shopping List and Stick to It

Like I said in the first part of this list, going cold turkey probably won’t work. To cut down on your spending without actually halting all your shopping, make a selective list of things you’re allowed to buy during the next month. This can include anything from new boots to dinner plates, as long as the items are things you truly need.

7. Find Activities to Replace Your Spending

Many times, people wind up shopping because they’re feeling antsy or stressed. Instead of relying on retail therapy, find other hobbies that benefit your life. For instance, next time you feel the urge to shop online, go for a run or learn to cook a new meal.

8. Set Goals and Look Ahead

One way to learn to love saving is to work towards a big goal. Maybe you want to travel to Bali next year, or perhaps you want to save up for a nicer car. Every time you start to buy something online or in a store, ask yourself if you would rather put that money towards your goal. Often, the answer will be yes.

9. Ask Yourself Questions Before You Buy

There are three big questions you should ask yourself before you buy anything: (1) Do I need it? (2) Do I love it? (3) Is it a good price? If the item you’re considering doesn’t earn a “yes” to at least two of these three questions, then it’s probably not worth spending your money on.

10. Give Yourself One Splurge Day Every Now and Then

Instead of spending little bits of money here and there throughout the month (that eventually add up), give yourself one shopping budget and spend it all in one splurge day. This will allow you to cleanse your mind of shopping urges, but you’ll also still be in control of how much you’re spending on non-necessities.

Learning to shop purposefully, rather than impulsively, is difficult for most American consumers. However, doing so will radically change the way you view money and your lifestyle in general. Start today so that you can have a more meaningful, financially-stable future.

5 Penny Stocks to Watch in 2019

To earn money trading penny stocks, you must make smart decisions about which companies to invest in. The goal is to maximize your profits while minimizing your risk. This means looking for companies that are profitable and have strong business plans. With this in mind, here are five penny stock to watch in 2019.

Entravision Communications Co. (NYSE: EVC)

This California-based media company targets Hispanic audiences in the United States. It currently owns nearly 60 Spanish-language television stations and 48 radio stations in major Hispanic markets. The company strategically broadcasts in some of the fastest-growing Spanish regions, such as in California and Texas.

Why should you care? Entravision caters to a Latino population in the U.S. that’s growing rapidly. Currently, the Hispanic population in this country is 58.9 million, and it’s projected to reach 111 million by 2060. You can only expect Entravision to experience similar growth as its audience expands.

Container Store Group Inc. (NYSE: TCS)

The Container Store Group sells storage and organization products both in retail and online. Its retail side has expanded rapidly in the past couple of years, launching 80 new stores in the United States. This has helped the company experience 277 percent net income and 7 percent revenue growth during that time. The Container Store Group is making other smart financial moves, as well, such as paying off its debt. If you’re looking for penny stocks in a company that makes sound business decisions, look no further.

RiceBran Technologies (NYSE: RIBT) 

This small food-processing company develops and brings to market products made of rice bran for both human and animal consumption. As a global leader in rice-bran-derived products, it has reported consistent revenue gains. The company is also continuing to expand, having recently announced the purchase of Golden Ridge Rice Mills‘ facility in Arkansas, which is expected to add $20 million in sales. RiceBran Technologies has also bolstered its sales and certification team.

Central European Media Enterprises Ltd. (NYSE: CETV)

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Image via Flickr by Katherine Ridgley

This media and entertainment company in Central and Eastern Europe broadcasts to an audience of 40 million via 29 television stations. Warner Media bought into it in 2009 and has continued to increase its ownership percentage over the years — a good sign to potential investors. In the last four years alone, Central European Media Enterprises’ income has increased by 121 percent and shows no indications of slowing. Meanwhile, the company is working to reduce its debt

CorMedix Inc. (NYSE: CRMD)

This biotech company develops and brings to market pharmaceutical products and medical devices. It has several new products in development that could continue to boost its growth. One that investors should be excited about is Neutrolin, a medical device designed to prevent catheter-related bloodstream infections. The device is currently undergoing clinical trials for FDA approval. If this product makes it to market, stock values could rise significantly. Furthermore, the company currently has no debt.

If you’re looking for exciting penny stocks that have more potential upside than down, keep an eye on these five as they continue to experience growth and development.

The Prominence of Truck Accident Lawyers

With the increase in the number of vehicles brought on the road, day by day, the amount of accidents has also seen growth. As much as the smaller vehicles are collided due to ignorance, larger vehicles like commercial truck ought to harm a lot more. Many occurrences have been seen where the heavy road transportations or trucks have had accidents with smaller vehicles that led to injuries, traumas and in a few cases death too. In times as such the family of the victim and the victim himself go through a rough patch of time. It can be a traumatic time both mentally and financially, therefore, personal injury lawyers are an option that can avail a little help to them.

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According to an expert Austin truck accident lawyer, commercial trucks are the most unsafe vehicles that are likely to cause a lot more damage than any other road transportation mode. Every day, more than a hundred trucks enter the city for commercial purposes and some of them get involved in the accidents too.There are many reasons that contribute to such accidents, given below are few of them that have found to be the most prominent and common ones

  • Ignorance of the driver
  • Fatigue
  • Distractions
  • Inexperience
  • Road conditions
  • Weather conditions
  • Alcohol or drugs

Any of the above-mentioned criteria can be the reason for the accident. The list is long but what matters the most is how to get the compensation the victim deserves to have. An expert attorney is all you need by your side to get through this.

For sure it is a tough time to handle for a family but consulting an expert attorney is a very helpful option in this time of distress. Think of the expensive bills that fall on the victim who is already in a tough situation. Accidents have the power to drastically change the conditions of a family. All someone needs through this time is moral support and instead, what reaches them is a huge lump of bills. An experienced Austin truck accident lawyer says that at times as such it is wise to seek expertise to at least help you get some monetary compensation that may support you to pay your bills. It is hard to get compensation in truck accident cases on your own. Hence, it is advisable to seek a skilled attorney to fight for your justice on your behalf.

If you are or a near one is a victim of such tragedy then our hearts go out to you and in this tough time, it would be advisable for you to hire a skilled lawyer that will help you loosen up some of your worries to an extent. Lawyers in this field have a thorough knowledge and experience through which they can work for the betterment of your conditions financially. They will get you the justice and compensation you are entitled to get which you might not get on your own. Contact your nearest attorney now.