Many of us made impulsive money behaviors. Some more and some less. Rather than feeling guilty and helpless, there is a solution. A recent Wall Street Journal Money Briefing podcast reports that some apps can help to curb those bad behaviors.
It can remind us to take a break and asking ourselves “What’s my intention here? What is it that I want to be doing?” There is nothing mysterious about it. Just to introduce self-awareness or mindfulness into a habitual auto-pilot process. For example, constantly checking the stock market price from a trading app or browsing various Reddit personal finance forums for trading tips.
I recalled a few years ago, I spent more than a thousands dollars in one season on Aliexpress buying Chinese traditional style clothes because they are so unique and cheap. When I realized that I spent too much time and money on it, I just stopped going there. I am glad that I put a stop to it. It is quite addictive. Every time when I found a piece of interesting clothes. It felt really good. That was certainly addictive.
Usually, impulsive spending has a deeper emotional drive. It can be escaping from boredom, sadness, lack of satisfaction in general, etc. It does warrant deeper understanding of ourselves. Perhaps find better fulfillment over materialism.
It is even harder for teens because their brains are not fully developed yet. They are highly susceptive to social media influences. Here are a few apps that can help teens with better self-control.
Worthfy Financial Literacy Counselling 