Is Your Wallet Begging for Mercy? Here’s how to Stop Impulse Buying!
Each time you go shopping, you spend more than you initially intended, buying things you don’t really need. Am I right? Impulse spending is a very sneaky habit. The most annoying part is that it’s difficult to break. For all of us, in our 40s and beyond, the consequences of spending can feel a lot more significant. There are endless responsibilities we need to take care of, we need to pay down mortgages, smartly plan our retirement, and ensure we don’t run out of cash before we run out of time.
However, even though we are aware of all of these things, the temptation to grab something that might end up being useful is still strong. Impulse spending is caused by emotions and stress. So, in a world where there is so much going on, we sometimes need to escape. However, all these little purchases that seem insignificant are quickly adding up over time, making you lose more money than you can even imagine.
Unfortunately, we usually realize how much you’ve spent when it’s already too late. That’s why I am here. I want to help you understand the impulse to buy and offer you smart strategies to overcome those sudden urges. Now, let’s get this straight: I am not going to suggest you swear off shopping entirely. After all, we must admit that we all love a good deal every now and then. But at least I will teach you how to regain control and create healthier habits. Ready? Let’s dive in and save you some cash.
7 Effective strategies to stop impulse buying
1. Avoid shopping when you are hungry
Oh, we all know how shopping on an empty stomach ALWAYS leads to regrettable purchases. So, pay attention to when you go shopping. It shouldn’t be surprising that hunger has the power to mess with your judgment. But, don’t get me wrong! It’s not just about food either. When you are hungry, you tend to be more susceptible to emotional impulses. So, when your stomach is empty you better avoid going places. Our brains crave satisfaction, making us likely to buy things we don’t need or even things we don’t want.
It might sound funny, but one of the best things you can do for your wallet is to avoid going shopping when you are hungry. This doesn’t mean you should binge eat before a trip, but just make sure that you are in a non-hangry state before you walk into a store or start scrolling through online shops.
2. Shop with a friend
Shopping can be a great social activity. I usually adore going shopping with my husband. Even though I don’t really like to admit it, he is the one keeping me away from impulse spending. So, please remember that if you often find yourself swayed by your best friend’s enthusiasm to ”just grab this,” then it might be time to rethink your shopping buddy.
Trust me, shopping with the wrong person can lead to a lot of financial mistakes and poor decisions that will drain your wallet. For example, I always avoid going shopping with my friend, Mary. Even though I love spending time with her, each time we shop together, I end up using my savings. She is the best at convincing myself that we only live once. I don’t even remember anymore how many skin care products I bought because of her. And guess what? Most of them ended up on the shelf in my bathroom without being touched.
3. Stick to the list
Imagine yourself in a grocery store. Suddenly, you remember that you need paper towels, but on the way to grab a package, you see those cute kitchen gadgets in the nearby aisle. In just a few seconds, you forget about the towels and end up purchasing a new kitchen gadget. Sounds familiar? Before you panic, you should know that this kind of trap can be easily avoided if you stick to a shopping list.
A clear list will help you stay away from any traps. The best thing is that this method doesn’t just work for groceries. It can be also applied to clothing, gadgets, or any other area where impulse purchases tend to happen.
4. Implement a rule
One of the simplest methods to combat impulse buying is the 24-hour rule. It means that all you need to do is just wait for at least 24 hours before spending your money. Trust me, it works perfectly! In those 24 hours, you will understand if the item is really necessary or just a fleeting desire. Most of the time, the next day, I ended up wondering why I even wanted that item, and I kept asking myself why was I even tempted.
If after this little delay, you still consider the item useful, you should go for it. How does it sound? Is this method too hard to implement? You’ll see results as soon as you try it, and you will most likely end up with extra cash in your wallet before you even notice. Sound like a dream? Well, transform it into reality next time you go shopping.
5. Avoid temptations
Another great trick you should definitely try is unsubscribing from all those annoying email newsletters. The number of flash deals and sales notifications is enough to make anyone feel they are missing out. So, the best way would be to avoid any kind of temptation. With fewer distractions in your inbox, you will be less likely on any kind of tempting sale link.
I learned that there are no real deals that I am missing. Each company is basically fighting its competition and trying to get the customers by their side. Is there any better way than being persuasive? No. Most of them use our email addresses to trick us and convince us to make as many purchases as possible.
When was the last time you got tricked by the newsletters? Well, even though I know exactly how this thing works. I made a mistake last week and I ended up purchasing a pair of sneakers I don’t even need. There was a countdown, announcing to all the customers that there was a limited time of discounts. So, I hurried up and spent some money before the countdown ended.
Unfortunately, there were no flash deals at all. I got fooled. Immediately after I paid my order, I noticed how the countdown was starting over and over again.
If you had any similar experience, feel free to tell us about it in the comment section.
6. Prioritize your long-term financial goals
Having clear financial goals helped me a lot to keep everything under control. I created a journal and I wrote down all of my plans for the next few months. It helped me a lot and I successfully saved for vacation, paid off my debt, and even managed to build an emergency fund. Have you ever tried this method? If your answer is no, then you should definitely try it next.
Staying organized and knowing exactly how much you can spend monthly will help you save more than you can imagine. For example, there might be a new iPhone model you like now… but is it really worth giving up on your dream vacation?
I recommend you purchase a journal. Once you write down your thoughts, dreams, and monthly plans, you’ll see how easy will become to manage your income and also save significant amounts. Isn’t that great? I will never go back to spending my money without having a clear list of the items I need each time I shop.
Remember that being reticent in the beginning is normal, but if you don’t make any changes, you’ll never see improvements in your budget. So, why not try to control your emotions instead of giving up on things you really need?
7. Know your triggers
Understanding your triggers is an important step in stopping impulse purchases. Are you more likely to buy when you are stressed, tired, or bored? Do you tend to splurge at the market or when you are at home with nothing else to do? Try to understand exactly which are the moments you feel the need to shop. As soon as you will identify your emotional triggers, it will become easier for you to develop strategies and cope with them.
Do you often feel stressed? Try a new hobby or go for a walk. Trust me, even practicing mindfulness while reading a personal development book is better than clicking ”Add to Cart”.
Did you find this article useful? Here’s what you should read next: Top 8 Things Americans Waste Money On (and How to Stop!)
