Read Full Article here… lifehacker.com

Photo: Daria Nipot (Shutterstock) A recent study reveals that people spend an average of $276 every month on impulse purchases—and that most people are happy with what they buy. Considering how common it is, the question isn’t necessarily whether you should stop splurging, but rather, what is the right amount of impulse buying, and when should you be worried that you’ve gone overboard? What is considered an “impulse purchase”? A survey by the deals site Slickdeals found that the average American makes 12 impulse purchases a month, which works out to about $3,312 per year (impulse buying is defined as unplanned, spur-of-the-moment purchases). While impulsive buying can have a negative effect on your finances, that doesn’t mean it’s necessarily bad, either. It’s possible to splurge on something you actually need, too — like stocking up on groceries because there’s a good deal, for example. And spontaneously treating yourself to new clothes or a movie is a valid reason to spend money on its own, especially if it breaks up your routine and adds to your quality of your life. When splurging becomes a problem Impulsive buying becomes a problem , though, when it leads to increased debt or otherwise affects your ability to cover other expenses, including retirement saving. It can also be an emotional crutch in the “retail therapy” sense, where the thrill of a new purchase is more important than what you’re actually buying. How to keep your impulsive shopping in check The following are some guidelines […]