Are you looking for ways to stop impulse buying? It is more dangerous than it might seem at first glance.
For example, you go late to work and forget to take food. So instead, you go to town for lunch and a snack. When viewing shop windows on the way from lunch, you will be interested in a new piece of clothing that you simply have to have – although there are already ten similar ones in your wardrobe.
After returning home from work, you want to relax, browse your favourite sites and come across an e-shop that currently offers special prices. That would be damn, so you don’t take advantage of discounts! Your online cart is filling up, and your wallet is sleeping quietly…
Does this scenario sound familiar to you?
Then you are not alone.
Many people suffer from impulsive buying.
Fortunately, there are several ways to avoid this bad habit and protect your budget from frequent (and, let’s face it, usually unnecessary) spending. Imagine how financially successful you would be if you saved every penny you spent on things you don’t need.
1. Change your perspective on spending money
Changing how you think about money can pull you out of mindless shopping for things you don’t need. So stop for a moment and think about exactly what you are spending money on and why.
Many people use shopping as a means of entertainment or a way to shorten a boring moment. Others see it as a cure for a bad mood. But if you shop to make yourself happy, you are more prone to impulsive buying.
Instead of browsing the shops, try to find an activity that will fill you. Take a walk in the park. Walk the dog. Call a friend. Go practice or meditate. You don’t need to spend money to feel good.
2. Track your daily spending
Don’t wait until the end of the month to evaluate your financial habits and see if they meet your budgeting goals. Instead of recording expenses every day, random impulse purchases will be much more visible and easier to avoid in the future.
Create custom budgets and track your spending habits with tools such as Koho Financial. Know where you’re at in real time with instant notifications every time you spend.
3. Clarify your goals
Clarifying your financial and life goals will help you avoid unnecessary purchases. For example, if you are trying to pay off your remaining debts within a year, then you probably won’t have such an urge to buy those funny motivational posters on the wall.
4. Avoid shopping at your favorite store
Your favourite stores have entire teams focused on getting you to buy new goods. If you want to avoid temptation and save your money, you better stay away from stores and their advertising campaigns.
5. Give yourself time before you buy something
We all know the feeling that we must have something, and we must have it now! Therefore, the best thing to do is to stop and postpone your purchase. Some people practice the 30-day rule. They postpone the purchase for a month, and if they know that they need the thing a month later, they will only buy it. Of course, you can change the time and shorten it to a week, for example. Any longer period will help you rethink whether you really need the thing or it’s just an illusion.
In conclusion
To stop impulse buying requires patience and dedication. You’re not alone in this; no one is capable of completely changing their bad habits in a day. So, don’t be too hard on yourself. Once you know how to budget and set some goals, you’ll become a smart consumer who knows how to buy only necessary things.