One of the best ways to deter impulse spending is to consider how long it took for you to earn the money a new item costs.
If you are considering a new pair of shoes that cost $80 and your current employment provides $20/hour; are the shoes worth 4 hours of labor?
Don't forget to add tax to the shoes and reduce your income for earnings tax and other deductions.
When all is said and done, a new pair of shoes could cost you 5 hours of work. That's 5 hours of your life that could be spent on something more important than a pair of shoes.
However, it really depends on the shoes. Are they worth it?
