Have you ever wondered why you get a lot of money, but you never save, even why you don?t have bills to pay? Impulse buying or spending may just be the bad guy.
It can be very easy to spend or buy on impulse when we spot services or items that we are really excited about, or that we really like but may not need. And with social media and the internet exposing us to subtle advertising every single day, it is quite easy to form a bad habit of spending on impulse.
While some people may not see it as much of a problem, the bad side you do not realize early is that once you start the habit of shopping on impulse, it?s always difficult but not impossible to stop.
Honestly, you know deep down that impulse buying is dangerous and an enemy of savings. So you certainly have begun to seek out feasible ways to curb this habit, and that?s why you are here.
We has put together 11 easy ways to curb impulse buying, and we know you will find them helpful.
1. Calculate how much time, energy, and work it would take to pay for what you want to buy
This is one that may make you come off as crazy, and I have laughed several times for it. However, when you work hard for your money and you know you have goals and targets to meet, you just might consider the time and work it?ll take to earn what you are about to spend.
Really though, ensure to look at the worth of the item and its longevity, then consider its usefulness to you and your family ( Like whether or not you really need it and if you can do without it).
If I want a wig that costs $40 dollars, for example, and I have other really cool ones, I?ll have to calculate how many hours of work will earn me $40 dollars, and probably not buy the wig.
This doesn?t mean I?m cheap; it only means I can get something more important for that amount.
2. Never go out with all your credit cards
I know that a lot of people only have one credit card. However, if you are one of those who have multiple credit cards and you plan on stopping by the mall, just go out with one for emergencies and only planned purchases.
Also, ensure that you check your limit before you hit the road so that you are certain how much you want to spend and still have extra cash for when sudden needs arise.
Sometimes, I simply go out with the amount of cash that I want to spend and keep some extra for transportation or gas ? nothing more. If you leave your credit cards at home, you have no choice but to look away when you spot an item you don?t need, but you want.
3. Don?t ever go therapy shopping
This is a habit that people used to think were gender-specific (ladies have been on the receiving end of this accusation), but men also go therapy shopping.
There are tons of easy ways to let go of the anger or stress that do not involve going on a shopping spree. Of course, we all like to have new things that are fancy and fun, but its best to buy them when you can afford to, and not for therapy.
Shopping, when stressed, can lead to an unending loop because you continue to shop and get stressed and shop some more till you are broke. Take a walk, play some good music, share a bottle of wine with your friends, do yoga, or try some DIY if you are stressed. Spending money doesn?t take the stress away.
4. Purposely block shopping sites when you use your smartphone and computer
The crazy thing about working on your computer or doing stuff on your smartphone is that you don?t know when the ads pop up, and you suddenly land on a shopping site. This is not something you can control if you do not make a move to do so.
Simply block these sites whenever they pop up if you know you can?t resist the temptation to buy something. You just might never need any of the things on these sites if you don?t see them.
5. Don?t go shopping in groups
I understand that shopping trips can be fun, but most times, you end up buying things you may never need. It happens every time you shop with friends or your significant other, and there is almost nothing you can do about it.
Well, most of the time, I simply get my card and shop for the things I need with my friends online after we have made a list. That way, we don?t see stuff we don?t need and put them in the cart.
This may not work for you, so it is in your best interest to avoid group shopping altogether.
6. Never drink and shop
This is basic common sense, but we all know that it doesn?t work when you are drunk. Always you?re your cards and wallet far from you when you drink so that you go spending beyond your budget.
Some shopping sites know how to suddenly show up on your phone or computer when you are drunk, and I wonder how they do that. If you have noticed such, simply avoid them entirely and only visit when you need something important.
It also helps to tell a close person to help you control your spending when you are not in control, and alcohol takes the wheel.
7. Put away whatever money you were going to spend
This is easier said than done, we know. However, when you set your mind to put away any cash you would have spent on things you do not need, you just might save up enough to go on that trip you have always wanted.
Even if you do not want to go on a trip, your savings may be enough to get important items by the end of the year and maybe pay off some of your debts. Oh, just so you know, one penny ere and another there may pile up to become a million box when you are not watching. So start saving and get rich.
8. Help those in need
Life is more fulfilling when you do things for others who genuinely need them. Imagine you were going to buy some snakes just because and you know of a neighbor or someone living in the streets who haven?t had a meal in days.
You can simply put a smile on that person?s face if you have the money to do so. That?s better than spending on stuff you may never use, or may even throw away.
You can simply see that new pair of earbuds you were going to buy as someone?s meal for an entire month, then give the money to charity or hand it to someone who is probably too shy to ask.
9. Spend money to show gratitude
Is there a family member or someone at work who has been good to you? If yes, you can show them how thankful you are by getting them a present with that money you were going to spend on a dress you don?t need.
You may even save the money for when it?s Christmas or any time there is something to celebrate, and then buy them a present to make the event even more special.
10. Spend your money on experiences, not on unnecessary ?stuff.?
Yes, we have been all about saving your money since the very first line of this article, but if you are in love or you have kids who mean the world to you, then you must invest in experiences.
A nice picnic or dinner with the love of your life is nothing to put a price tag on. Getting married may just be the best decision of your life, so you can invest in a simple but memorable wedding.
You can also do some of the fun stuff on your bucket list, or simply take your mum out or visit a relative you haven?t seen in years.
11. Remove Temptation
It?s difficult to avoid temptation, especially with all the adds that pop up every now and then. However, you can skip the urge to spend all together when you separate yourself from the crazy amount of advertising out there so that you don?t feel the temptation to spend.
Also, do not attempt to hang out with friends at the mall. When you do so, you are preparing yourself to spend on things you never even thought you would need.
The mall is a center of premium advertising and will leave you feeling like your world is empty without most of the things on the shelves. To get rid of the annoying pop-up ads on mobile or desktop, you can opt for Adblockers.
These are 11 of the best ways to avoid impulse buying in 2020. We hope you find them useful and also share with friends.