Resisting the urge to act on impulses is important to teach children, because it teaches the value of delayed gratification. Many psychological problems are characterized by a loss of control or a lack of control in specific situations. Usually, this lack of control is part of a pattern of behavior that also involves other maladaptive thoughts and actions, such as substance abuse problems or sexual disorders like the paraphilias (e.g. pedophilia and exhibitionism). When loss of control is only a component of a disorder, it usually does not have to be a part of the behavior pattern, and other symptoms must also be present for the diagnosis to be made. (Franklin)

The five traits that can lead to impulsive actions
For many years it was understood that impulsivity is a trait but with further analysis it can be found that there were five traits that can lead to impulsive actions:
positive urgency, 
negative urgency,
sensation seeking, 
lack of planning, and
lack of perseverance. Associated behavioral and societal problems
Attention-deficit hyperactivity disorder
Attention deficit-hyperactivity disorder (ADHD) is a multiple component disorder involving inattention, impulsivity, and hyperactivity. The Diagnostic and Statistical Manual of Mental Disorders (DSM-IV-TR) breaks ADHD into three subtypes according to the behavioral symptoms:
Attention-Deficit/Hyperactivity Disorder Predominantly Inattentive Type,
Attention-Deficit/Hyperactivity Disorder Predominantly Hyperactive-Impulsive Type, and
Attention-Deficit/Hyperactivity Disorder Combined Type. Predominantly hyperactive-impulsive type symptoms may include
fidgeting and squirming in seats,
talking nonstop,
dashing around and touching or playing with anything in sight,
having trouble sitting still during dinner/school/story time,
being constantly in motion, and
having difficulty doing quiet tasks or activities.
In these cases, overeating is not limited to palatable foods.Impulsivity differentially affects disorders involving the overcontrol of food intake (such as anorexia nervosa) and disorders involving the lack of control of food intake (such as bulimia nervosa). Cognitive impulsivity, such as risk-taking, is a component of many eating disorders, including those that are restrictive. However, only people with disorders involving episodes of overeating have elevated levels of motoric impulsivity, such as reduced response inhibition capacity.One theory suggests that binging provides a short-term escape from feelings of sadness, anger, or boredom, although it may contribute to these negative emotions in the long-term. Another theory suggests that binge eating involves reward seeking, as evidenced by decreased serotonin binding receptors of binge-eating women compared to matched-weight controls and predictive value of heightened reward sensitivity/drive in dysfunctional eating.Treatments for clinical-grade overeating include cognitive behavioral therapy to teach people how to track and change their eating habits and actions, interpersonal psychotherapy to help people analyze the contribution of their friends and family in their disorder, and pharmacological therapies including antidepressants and SSRIs. Impulse buying
Impulse buying consists of purchasing a product or service without any previous intent to make that purchase. It has been speculated to account for as much as eighty percent of all purchases in the United States.There are several theories pertaining to impulsive buying. One theory suggests that it is exposure combining with the speed that a reward can be obtained that influences an individual to choose lesser immediate rewards over greater rewards that can be obtained later.