Impulse buying: Our favorite splurges and biggest regrets — Forever 39 Podcast
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Spending splurge regrets ... we can probably name a few purchases that we've made that we wish we hadn't. But how about those things you don't regret splurging on? Perhaps you have a few of those too.
We both agree that spending money on experiences like vacations, a Broadway show, or an intimate dinner for two is money well-spent. We can also point to some purchases that we regret, like Megan's fancy ring or Annette's Louis Vuitton handbag that sat in the closet for 10 years.
And if you're someone that struggles with impulse buys, you aren't alone. According to a 2016 survey by CreditCards.com, 5 in 6 Americans have made impulse purchases. How much have those impulse buys cost us? The survey found 54 percent have spent $100 or more on an impulse purchase, and 20 percent have spent at least $1,000.
Not surprisingly, most impulse buys happen at a store, and the desire to impulse buy decreases as we get older, according to the survey. The survey also found that the majority of impulse buys are for ourselves, with 47 percent admitting to making the purchase for themselves.
If you want to kick your impulse buy habit, check out these tips from Psychology Today.
Do you have any spending regrets? How about things you're happy you've spent money on? Let us know at email@example.com.
— Annette and Megan, Forever 39