Impulse Buying and How to Beat It
Ah, impulse buying. It’s that phrase again! You know it, right? Yes, that spoiler of the budget for a short-lived thrill. And, you’re a victim. You just can stop buying things you hadn’t planned for. But wait. Is it that hard to stop being an impulse buyer? Not if you follow these tips.
Buy at the Right Time
Truth be told; even with the best planning, there’s every chance that you’ll buy things randomly. The best way to avoid doing it is to ask yourself if you really need a specific product. If the answer is a resounding NO, then you should leave it on the shelves. You can, however, make plans to acquire the item say after a week, month and so on.
If you’ve seen a cute watch for your boyfriend, why not wait until the holidays to buy it as a gift. The beauty of it is that you’ll have already planned to get the watch in advance so it won’t be an impulse purchase per se. Again, avoid buying items on sale. As a rule of thumb, it will have helped save you money if you don’t get it at all.
Leave Credit Cards at Home
One of the primary triggers of impulse buying is carrying credits card when you head to the shopping mall. The fact that you don’t need to have liquid cash to buy an item you like comes with the temptation to overspend. Make it a habit to carry cash every time you go for shopping. That way, you’ll only purchase what your wallet allows you to. When the cash runs out, you’ll have no option but to leave. Plus, when you know that you have a limit to which you can spend, you’ll get what’s important first.
Carry a List
This is perhaps the best way to avoid impulse buying. Confine yourself to a list to avoid spending beyond your limits. Also, be sure to make a budget as a way of helping you control how much you spend. Another trick can be using the envelope system, where you stash different envelopes with cash every time you get paid. The money is for different things such as eating out or movies. When a particular envelope is empty, you’ll have to wait until the next paycheck to refill it.
In conclusion, you have to watch how you spend your money if you want to improve your financial situation. While it’s easier said than done, it only takes some commitment.