We had that moment where we just had to have something. Everyone has a room filled with impulse buys or an entire section of their wardrobe dedicated to unworn inspiration buys. We found easy ways to stop yourself from impulse buying with a few tricks!
Make a Budget
Most people only realize how much money they spend once they check their bank account. One way to spend less is by listing all your monthly expenses. For example, write down how much you need for your rent, bills, groceries, and any subscriptions or debt payments you may have. When you know how much money you pay each month, you can see how much you have left.
Spend With Cash
When you can actually see the amount of money you are spending, then you won’t be as liberal with your money and know the amount you pay.
When you mindlessly tap your card, you don’t even think about the amount you are spending.
Implement a Wait List for Big Purchases
If you see something you want to buy, write it down and try to save up money monthly to buy it. If you are still thinking about the item 30 days later, buy it.
Unsubscribe From Emailing Lists
Subscribing to a store email list can be a great way to score discounts and free shipping, but unsubscribing can save money.
If you are prone to impulsive shopping, it’s best not to get emailed saying, “50% OFF EVERYTHING.” It is hard to resist.
Don’t Drink and Shop Online
You wouldn’t drink and drive, so you shouldn’t drink and shop.
Anyone who has browsed the internet after a few glasses of wine knows that alcohol and online shopping are a dangerous combination.
Calculate How Much Work It Would Take to Pay for the Item
When the impulse to buy something strikes, take a second and ask yourself whether the item is worth the cost.
Compare the price with the time it would take to earn that money, “How many hours of work would you need to put in to pay for that $200 pair of shoes?” You love them, but are they worth a full day of work?
Avoid Credit Cards Like the Plague
Credit cards are easy to use, but if you are prone to impulse shopping, they are definitely not your friend. It’s an easy way to spend money without considering your budget or how it will impact your bank account.
Don’t Turn to Retail Therapy
Buying things when you are emotional is a bad idea, but we have all done it at some point.
Whether after a breakup or a hard day at work, shopping therapy usually helps us relax. Still, you end up feeling worse when you see you check your bank statement.
Re-evaluate What You Already Own
You probably already have a lot of stuff from your impulse buys. Think about what you already own before you buy something else you likely don’t need.
Give Yourself a Splurge Account
Put some of your income aside towards a splurge account. This way, you can save on your budget and give in to an impulse buy without feeling guilty or worrying about overspending.
Put Away the Money You Were Going to Spend
Before you go and spend money, deposit the money you would have spent on that item into your savings account instead.
Go through your bank statements and add all the money you have spent on unnecessary impulse buys over the past year. Check how much money you can save and what you can use in your savings account, whether on clothes, fancy goods, or a relaxing vacation.
Avoid Paying in Installments
Paying in installments makes you forget the amount you spend and enjoy the product without noticing how it will affect your budget. It’s best to pay for the item immediately so you can put it in your statements and also even stop yourself from impulse buying.
Make a Shopping List and Stick to It
One of the best ways to stop impulse buying is by making a shopping list and trying to stick to it. You can make a list online or on your phone and purchase the items on your budget. Only shop with the budgeted amount of money.
Know Your Triggers
Having knowledge of what triggers your impulse buying habits is a good idea. Some common triggers include discount sales, fear of missing out, product placements, exclusivity, etc.
You can start by avoiding stores with tempting discounts. Or unsubscribe from discount deals, sales newsletters from online stores you can’t resist, etc.
Find Ways to Reward Yourself Without Shopping
If you want to celebrate by treating yourself to a shopping spree, it is best to find ways to enjoy yourself without spending too much money. Go out for food, a trip to the city, dessert, etc; stick with your budget and celebrate in other ways instead of buying more items.
Shop Less Often
Out of sight, out of mind is undoubtedly true regarding impulse spending. When you go to the shops less, you are less exposed to temptation.
Reduce Social Media
Our desire to be part of the group or buy what is in trend is one of the reasons why we spend money on things we don’t need or even want. Reducing social media will benefit your bank account and stop you from impulse buying!
Less Lifestyle, More Living
Spending money on trendy lifestyle choices can cost a lot and is unnecessary. Using a budget and savings account, you can use the money to travel and do things that will bring you joy and not cluster your apartment.
