These tips can help you rein in the habit
- Half of respondents to a recent survey said they know they are overspending, up from 45% in April.
- Credit card debt has been climbing and now stands at nearly $1 trillion after dipping during 2020.
- These tips for budgeting and avoiding impulse purchases can help you get back on track.
Setting up a household budget and sticking to it can be challenging. Impulse shopping doesn’t make it any easier.
About 42% of consumers say they are worsening their financial situation by doing things like making impulse purchases and carrying more debt, according to the recent Real Financial Progress Index by BMO Harris Bank. Half of surveyed respondents said they often spend more money than they know they should, up from 45% in the bank’s April survey.
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