4 Ways to Stop Impulse Buying
Right now, you can easily buy anything you want with a quick tap on your phone or a swipe of your card at the store. Beyond that, both brick-and-mortar stores and websites push impulse purchases on you constantly, making it even harder to say no.
But you can take control over impulse purchases — you just need to set a few rules.
- Don’t Go Cold Turkey
Cutting yourself off cold turkey from impulse purchases isn’t always the right move. For a lot of people, that decision can feel like a punishment, and they may want to rebel against their self-imposed limitations. Instead, be realistic about your shopping habits and let yourself have a few impulse purchases. Everyone deserves a fun treat once in a while.
To keep that under control, consider giving yourself a weekly or monthly allowance. Once you reach the limit, you can’t make any more impulse purchases, but in the meantime, you can grab what you want. This helps you strike a comfortable balance, and when you budget for impulse buys, you think more carefully about them.
- Set a Limit for Each Purchase
If large impulse purchases are a mainstay in your world, set a limit for each purchase. When an item is over that limit, for example, $50, require yourself to think about it for 24 to 48 hours. At that point, the purchase is no longer impulsive because you’ve spent time considering the impact on your budget and whether or not you truly want the item. Oftentimes when you delay purchasing an item, you’ll find you no longer feel like you need it.
- Disable One-Click Buying
One-click buying options are quickly becoming more popular with online shopping. No longer do you have to spend time choosing a payment method or selecting a shipping address every time you purchase something. You enter the information once, and each time you make a purchase going forward, you simply click once to buy the item. By offering this feature, retailers are lessening the time for you to reconsider your purchase.
If you’re trying to cut down on your impulse shopping, go to the websites or apps you use the most and disable the one-click buying option. This will allow you more time when making the purchase to really consider whether you need it or not.
- Don’t go therapy shopping
Find better ways to ease the stress that don’t involve spending any money. Shopping when stressed can lead to a vicious cycle: circumstances cause you to stress, so you buy stuff, then you’re stressed because you spent money, so you buy more stuff, and the cycle continues. If you’re stressed out, try healthier ways of taking control like going for a walk, reading, spending time with loved ones, or exercising.
We’re Here to Help!
Impulse purchases can instantly derail your monthly budget. However, by setting a few rules, you’ll be able to keep your finances on track and enjoy treating yourself occasionally.
To learn more about budgeting or additional options to get the most out of your accounts, stop by any branch location or give us a call at 601.977.8300.