Getting more out of your hard-earned money.

BUYING ON IMPULSE

Your purse strings are closely attached to your heart strings but do you know what exactly causes you to spend? “There is no limit to the number of emotions that create spending money behaviour,” says Carol Yip, financial coach and author of Smart Money-User and Money Rules (www.AbacusForMoney.com).

Find out which are your emotional spending triggers by answering yes or no to the type of emotions that causes you to reach for the purse. The list, says Carol, is not exhaustive. If you think you could be an emotional spender, she suggests keeping a journal and noting your emotions each time you spend. This will help you determine and manage your triggers.