by Glenda Wentworth, Extension Agent, Family & Consumer Science, Eagle County
Many people spend today with little thought for the future. Impulsive behavior issues in our society are linked to poor savings habits. Consumers are so attracted to a product or service that the immediate gratification of purchasing it doesn’t register the unintended financial consequences. The need for that feeling of immediate gratification may lead to overspending. These feelings usually have nothing to do with the item purchased, but more to do with making you feel good. A goal-setting action plan can keep you from slipping into the easy habit of spending too much money on instant gratification. Writing down your goals is motivational and makes them intentional. When you have written goals, it is easier to develop action steps to achieve those goals and monitor your progress. A written goal supports you in delaying instant gratification to a future time while enjoying the anticipated reward in the meantime.