Impulse Spending - There's an App for that!

With smart phones always just a few inches from their owners, impulse purchases can run rampant.  In addition to the ability to purchase new apps at a moments notice, while shopping in the app store, countless free apps are set up to get you to buy from within the app.

Amazon, Groupon, Living Social and countless others allow you to "buy now" with just one click (or maybe with a confirming click).  Many free gaming apps offer game upgrades to allow you to play more often or for longer periods of time, with just a click as well.  In most cases, a credit card is held on the individual account and need not be entered at the time of purchase, a person need only enter the app select what they want and click to purchase.

I agree that these apps offer an incredible amount of convenience and when a busy person needs to purchase gifts, personal items, baby needs and other necessities to be able to do so at the touch of a button on their phone is an amazing advancement in shopping.  I definitely use such apps and greatly appreciate the time saving qualities of such apps.

The problem arises when people are impulsive.  I was recently told by a friend that in the middle of the night she had this strong idea about something that she thought would be useful for her new baby and in the wee hours of the night she ordered something on her amazon app from her smart phone.  By the time morning came she realized that the item was not necessary and in fact the purchase was impulsive and unnecessary.  From time to time, I have been tempted by apps like Groupon and Living Social to purchase "great deals" as well.

It is important to be fully conscious of what you are willing and able to spend on apps, games, music and other items, and purchase within that budget.  It is easy to lose track when you can just buy at the tap of your finger, or when multiple family members have access to the app store and are not responsible for the bill at the end of the month.

The companies that put out these apps are well aware of the tendency for people to just say to themselves, "well its only $1.99" or "at least now I don't have to go out of my way to go get this."  It is important to remember that these purchases can add up pretty fast.  Remember to think about how much you are spending and think a bit before you buy.

For people having financial difficulties, a free bankruptcy consultation is available, contact Greenwald and Hammond PC.

Submitted by,

Mindy Greenwald, Esq.