Is impulse purchasing the reason for poverty?
By Tunde
@ogbenishyna (3122)
September 8, 2023 3:45am CST
Impulse purchasing or being tempted to buy things you dont need is one of the reason you get broke.If you have credit card for instance, you will likely swipe it for petty things you dont need but you crave for. How do one control impulse buying? Maybe one should close the eyes to those things one does not need.
8 people like this
8 responses
@sharonelton (25437)
• Lichfield, England
8 Sep
Well, it could help towards it, but that's not going to be the sole reason. There are many outside influences that can contribute to poverty. The cost of living crisis, losing ones job and then not being able to pay the bills and mortgage. Being thrown out of home and having nowhere to go. All these things and more can contribute to it.
2 people like this
@sharonelton (25437)
• Lichfield, England
8 Sep
@ogbenishyna Thank you very much, I'm glad you agree with me. 
1 person likes this
@AmbiePam (85959)
• United States
8 Sep
No, that is not the main reason for poverty, but certainly some people aren’t doing themselves any favors. I “know” one lady on welfare and food stamps, yet she buys the latest fashions, and toys for her son, and then goes to the food bank because she has no food. It’s dumb, and shows a complete lack of awareness.
2 people like this
@LadyDuck (460346)
• Switzerland
8 Sep
@ogbenishyna · According to the Slickdeals survey, 58% of Americans indicated that making an unplanned purchase ended up saving them money.
1 person likes this
@akalinus (40789)
• United States
8 Sep
Impulse spending can drain your bank but I think the price gouging going on makes everything so much more expensive. Even necessary things like groceries and gas keep going up in price. The government says inflation is cooling but that is a lie. Do any of them ever shop for groceries?
1 person likes this
@akalinus (40789)
• United States
8 Sep
@ogbenishyna It makes it very difficult to get what you need.
@ogbenishyna (3122)
•
8 Sep
My friend in Atlanta told the same thing you told me now. Inflation is forever going high.
1 person likes this
@db20747 (43434)
• Washington, District Of Columbia
8 Sep
@ogbenishyna yes, if not used properly, you can be sent to financial ruin!
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@ogbenishyna (3122)
•
8 Sep
Exactly Danna. Someone said credit cards are spirits 
1 person likes this
@jefferson126 (3086)
• Shenzhen, China
8 Sep
in a sense,big bill impulse expense will lead to poverty,but if it is a small bill,i think it doesn't matter so much.
1 person likes this
@jefferson126 (3086)
• Shenzhen, China
8 Sep
@ogbenishyna ,if i feel hard to control expense,i will carry small sum of money,even if i spend over money,it's not a big deal.
1 person likes this
@Raine38 (12257)
• United States
8 Sep
It can be, but it's not the sole reason for being impoverished. Credit cards are just like any other inanimate objects - in itself, it's harmless. It becomes useful or otherwise depending on how it is utilized. If used properly, one can actually take advantage of promos and cash back. One can also buy a big purchase and spread out its payment over time without incurring interest. Lastly, it can also help build credit scores for use in purchasing a house or borrowing for a business venture.
I think the person makes him or herself impoverished by making wrong financial decisions.
1 person likes this
@ogbenishyna (3122)
•
8 Sep
well said but you know people can be tempted to spend more when they have their credit cards with them.
@RebeccasFarm (86976)
• United States
9 Sep
In this day and age, yes it is a lot of that problem for many that do not have the cash to back it up..thus debt.
1 person likes this
