Impulse buying is defined as the buying of goods without planning to do so in advance, as a result of a sudden whim or impulse.
It’s a similar feeling to how we feel when we go out on a Saturday night then end up in the local McDonalds – it feels great at the time but afterwards can leave us feeling empty. Here are some tips on how to stop that empty feeling by learning to curb your impulse spending.
Shop with a list.
Shopping with a purpose, whether that is a grocery shop or a clothes shop makes it a lot harder for you to stray off into the dark depths of consumerism, which is why we love shopping with a list of everything that is essential and challenging ourselves to stick with it. You can even come up with forfeits if you fail to stick to your list to keep you motivated.
Shop With Cash Not Card
If you’re having trouble, always go shopping with real money and not your plastic cards. It is harder to part with notes and coins than it is is with card
Introduce a Waiting Period.
Give yourself time to think about purchases by putting a time limit before you buy. Say you see an item, waiting 2 days before you purchase will dictate if you really want it. If you’re still thinking about it 2 days later, then it’s meant to be...
Think about what you already own.
We know it’s difficult to think about all the shoes you own, or all the pans in the cupboard, but in most cases you will already have suitable products or items which can be adapted for another purpose. Think about using these before you purchase new products.
Unsubscribe from retail newsletters.
Who needs to know when our favourite retailer has a 70% off sale? Not us! Having these newsletters fly into your inbox every minute is distracting and can often tempt us to spend money simply because we see something is reduced. Sometimes its just not worth seeing them.
Only shop with a clear head.
You’ve probably heard the term “don’t go food shopping on an empty stomach” – this is because you’re more likely to buy everything. This same applies to shopping when you’re sad, emotional or stressed – as the treat yourself mentality kicks in. There are lots of other options to treat yourself after a tough day. Shopping when you’re bored or drunk also applies to this.
Set Alerts Every Time You Spend
We’re not one to feel guilty about spending, nor do we want to trick you/make you feel bad at spending but sometimes our iPhone and smart devices can do that for us. With an increasing number of banks, the option is there to see a notification every time you spend money – turning this on can help you realise how frequently you spend and act as a deterrent to spending.
Fempire Finance