Impulse buying, in simple terms, is the act of buying something once we set our eyes on it. We all do it once in a while. If you look around your home, you might see a lot of materials things that we don’t actually use.
Impulsive buying can be a major budget buster, because it is unplanned expense. If you buy things on impulse, follow these tips to stop impulse buying.
The causes of impulse buying can be several. We might think that we got to buy something because it is a bargain, because it’s 50 % off, or because we deserve it.
Moreover, we engage on impulse buying because we think we might miss out. A lot of times we buy on impulse because the retailers get us. Online retailers might know what we like based on what we have searched for on the internet or what we have bought before online.
They used that information to target their online ads to you. We all have engaged in impulse buying once before, because sometimes something just looks too good and we must have it.
However, the effects of impulse buying can be a problem, especially if it means you spend more than you earn. If you think you buy things on impulse, list the effects impulse buying has on you and work on them.
This article discusses ways to avoid impulse buying so you can use your money on the things you really want.
Incredible Ways to Stop Impulse Buying:
The trick to avoid impulse buying is to think about what you’re going to buy before you shop. Here are the six ways to stop impulse buying:
1. Don’t Shop When Sad, Upset, or Angry
A very important impulse spending tip is to stay away from shopping centers when you are in an emotional state. If you break up with your boyfriend or girlfriend, of the other breaks up with you, or if you get fired from work, stay away from the mall or online retailers.
When you are in such an emotional state, you are more likely to overspend. It can be very easy to justify impulse spending when you have a bad day. So don’t shop as a way to feel better. It can save your bank account.
2. Pay With Cash and Leave Your Credit Cards and Debit Cards at Home or in the Car
A very simple rule of thumb to avoid impulse buying is to use cash when shopping and leave your credit cards at home. If you know you’re going to the mall, don’t bring your credit cards with you.
Credit cards can be the main culprit when it comes to impulse spending. If you have a set amount of dollars in your wallet, you will give it a second thought before spending. So pay with cash instead.
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3. Sleep on it Before you Engage in Impulse Buying
If you are tempted to buy something, go home, sleep on it first to see if it is something you really want. You may be surprised when you wake up the next day that you really did not want that item.
4. Avoid Impulse Buying by Doing a Budget
How to stop impulse spending has a lot do with whether you have a budget. When you have a budget, it is hard to engage in impulsive buying because your money is already accounted for some kind of expenses such as rent, electricity bills, etc.
You might purchase something on sale and think that you’re saving money because you didn’t pay the full price. But the problem is you still spend money, because you did not budget for it.
Doing a budget is never easy and requires a lot of discipline, but having one is really important. It can teach how to stop impulse buying, among other things.
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5. Don’t Shop After Accomplishing Something
Just as it is important to avoid impulse buying when sad, upset, or angry, it is also important to avoid impulse buying after you have accomplished something, say for example you get a promotion or you just made a big deal.
You may feel less guilty to engage on impulse buying because you just accomplished something. However, buying something as a way to reward yourself, can be just as bad because you did not budget for it.
6. Make a List
Another trick to stop impulse buying is to make a list whenever you are shopping. If you make a list, you are more likely to stick to it and buy things that are only on that list. Plus, if you see something on your list that is on sale, you can buy with confidence knowing that you had planned for it.