5 Ways To Save Yourself From Impulsive Buying

June 9, 2022September 15, 2022 admin shopping

Saving money to achieve a financial goal is a great approach to improving your life. You can use this power of managing your finances to help you curate a brighter future.

However, one of the most common reasons for debt isn’t because people want too many things. But it’s because of a phenomenon known as “impulse buying.”

What is Impulsive Buying?

Impulse buying means spending money without planning ahead of time.

Perhaps you’re an emotional shopper who finds shopping as a way to feel better when you’re down. Or you’re waiting in line at the grocery store, simply feeling the sudden urge of buying that candy.

In both cases, you’ve become an impulse buyer. It is because you’ve just bought a thing without thinking about it. It may not seem like much, but every little bit adds up, and it could prevent you from achieving that goal you were aiming for. However, with little practice and patience, you can get rid of this habit of impulsive buying.

5 tips to avoid Impulsive Buying

Try these 5 financial success activities to control your impulse shopping habits.

#1. Adopt a “Buy on Sale” mindset.

If you shop for sales properly, you will be able to control your expenditure. This isn’t to say that you should buy anything on sale every time you see it. Rather, if it doesn’t serve a purpose or just sits about collecting dust, it’s not a good deal.

When you establish a “shop on sale” mindset, you’re teaching yourself to be patient and put in some effort to make a buy. So, next time, look for a discount or a coupon first. Moreover, if you’re shopping online, look for a better deal.

Instead of putting an item in your cart right away, take a few minutes to browse for sales so you can make sure you actually want to spend the money. Wait until the item on your wishlist goes on sale if you can’t find a coupon.

You may have changed your mind by the time you find your discount or get the sale.

#2. Set spending limits

It’s critical to be disciplined in your spending habits. You are the only one who knows where your weak spots are. So, if you’re not sure, pay attention when you go shopping the next time.

When we engage in the following activities, we are getting into some of the most prevalent impulse buying situations:

Online buying in the middle of the night
Binging on emotions
Trying to keep up with the Jones’ (someone else has it, so we need to have one as well)
Sales methods that put pressure on customers to buy

Set and stick to your personal boundaries. For example, if it costs more than ten dollars, you should wait 24 hours before purchasing it. As the price of the item rises, the wait time will increase.

On the other hand, credit card debt is a major issue, owing in part to impulsive purchasing. Another rule to follow is that if you can’t pay cash (debit card) for anything, you shouldn’t buy it.

The first step in setting limits is to recognize where you need them.

#3. Make advance arrangements

The adage “Failing to plan is planning to fail” is really accurate in terms of your financial situation too. You’re planning to spend money aimlessly if you don’t plan ahead for your shopping excursion.

Meal prep is one of the first things to become used to when planning ahead. This way, you’ll save so much time if you take an hour or two once a week to plan your meals for the week. Moreover, you should then scan supermarket advertisements for the best deals! Finding a meal-kit service is another option for avoiding the stress of grocery shopping. There are many choices. So, make sure to look into all of the best-prepared meal delivery services in your area to find the perfect match.

Additionally, if you plan ahead, you can earn cash back or gift cards by using apps like Rakuten (formerly Ebates) and Ibotta.

#4. Don’t go shopping while distracted

You’ve probably seen shows where an inattentive parent is on the phone while wheeling a shopping cart. Meanwhile, the toddler is dumping everything into it. And now the parent is completely unaware until they go to check out.

It is so realistic. Therefore, this scene is frequently exploited in movies and television shows. Shopping while distracted is the ideal setting for impulse purchases.

So, stay focused on what you’re doing with your money when you’re spending it. This prevents you from making “inadvertent” purchases and forgetting about your shopping list.

#5. Know Your Weaknesses

When it comes to buying, we all have our weaknesses. It could be anything related to your favorite sport for some. Meanwhile, others see it as the newest promise of younger-looking skin or weight loss.

What’s your most vulnerable area when it comes to impulse purchases? What can any salesperson persuade you to buy without any effort? Those are the areas you should avoid until you’ve developed a strong enough boundary attitude to resist the temptation!

Avoid stores that put your willpower to the test while you’re trying to tighten your pocketbook. It’s fine to be a slacker as long as you’re trying to get better!