A Wacky Impulse Buy Roundup

Our friends to the north aren’t immune to the same bad spending habits that we USers are prone to. Robb Engen offers some great advice to break these habits with 7 ways to avoid buying stuff you don’t need. Avoiding the impulse buys and spending money you don’t have is the first step to getting your financial life in order.

In a similar vein, Peter Anderson at Bible Money Matters asked Are You Behaving Like A Future Millionaire, Or Aiming To End Up Broke? He goes on to discuss the observations of Dr Thomas Stanley, author of The Millionaire Next Door and Stop Acting Rich, sharing some of the habits of those who have successfully accumulated wealth.

Next, a tax related article. I hate the alternative minimum tax (AMT). But I love the work of financial blogger Miranda Marquit. Her article A Basic Overview of the AMT was an excellent  introduction to how the AMT came to be, how it’s calculated, and what items make it worse for you. As always, nice work Miranda. If anyone in congress happens to be reading, please kill the AMT, it’s not just taxing millionaires, but hurting, well, the average Joe.

At Financial Wand, Jonny asks Is it worth applying for a 0% Credit Card? And as is often the case, it depends. Jonny suggests that its worthwhile as long as you use it for the right reason. Indeed. Read the article before you apply for another card.

My friend Len Penzo Just Made the Biggest Impulse Purchase of [His] Life (but It’s OK). And I have to say, he wins. My last impulse buy was about 4 years ago, a pair of tickets to see Sting. $600 at a local charity auction. Len’s purchase puts that sum to shame.

Iam1% declares that Money Does Buy Happiness. But it’s not what you’d think. It’s more about giving than getting.

And to wrap up this week, two posts on the Flexible Spending Account – Five Cent Nickel wrote IRS to Modify FSA Use-It-or-Lose-It Rule? And Kay Bell House OKs pro-consumer FSA changes, but they’re not likely to become law…yet. Two excellent articles about the potential changing in store for the FSA. I have a strange feeling whatever congress decides, it won’t make anything better. Only more convoluted.

Have a great week.