Are you an impulse buyer? Here are 3 areas to watch out for.

1. You constantly wish for “just a little bit more.”

Do you find yourself constantly wishing for more? Is it hard for you to watch others upgrade to nicer cars, bigger homes, better furniture or even pricier, more prestigious private schools for their children? If you’re quietly saying "yes," then your discontentment may be driving you to impulse financial decision-making. Reflect on your spending habits and evaluate whether many of your purchases are done out of true need or out of a need to fill in an internal void or social pressures. Decide today that you will no longer live to impress others by spending money you don’t have on the things you don’t really need.

2. You use and abuse credit on a regular basis.

Credit has become so accessible that any college student who does not have a steady income is bombarded with offers of easy money. Do you have a revolving balance on your credit cards? Are you using one credit card to pay off another one? Is your monthly credit card balance growing instead of declining? If the answer is "yes," then you are most likely financing a “beyond your means” lifestyle.

Take the next few days, look over your credit card purchases and see exactly what you are buying. Is it expensive clothing? Maybe its time to move to a cheaper clothing line or to live out this famous great depression motto: Use it Up, Wear it Out, Make it Do, or Do Without. Have you fallen for the "buy now and don’t make any payments until who knows when" offers? Now that the payment time has come, are you struggling?

Whatever “it” is that you are using credit for, first make a decision to stop using plastic. Create a realistic debt repayment plan and do not pick up a credit card until you have paid your balances off and are ready to be a responsible consumer.

3. You aren’t saving at least 10% of your gross pay.

Saving is truly the foundation of healthy finances, yet so few of us actually save. Do you find yourself saying "yes" to instant gratification while ignoring the need for having financial reserves? If so, track your spending for the next 30 days and you’ll clearly see where your income is going.

You goal should be to set aside at least 10% of your gross annual income. A portion of it may go into a retirement fund while the rest to a regular savings account.

While setting saving goals, focus on both short-term as well as your long-term goals. Short-term should include having an emergency fund, 6 months of living expenses, a vacation fund, a Christmas fund, etc. Your long-term goals should focus on retirement, a car replacement fund, and college funds for your children, etc. Use an online budgeting software to help you create a budget and manage your spending as well as saving.