7 Simple Ways to Reduce Impulse Spending
I know it’s hard. We see-we buy. That’s the way it’s been, and that’s the way it’s always going to be. We are constantly bombarded with messages implying that we should buy things we can’t afford or that we don’t need. But wait! Is there another way? Is it actually possible for us to STOP and THINK before we spend our money? I’d like to think so. Here are 7 simple ways to reduce impulse spending.
7 Ways to Reduce Impulse Spending
- Avoid temptation. If you know that going to the mall or electronics store will cause you to bust your budget, don’t go there. Find somewhere else (less expensive) to go instead.
- Give yourself a budget for impulsive spending. Yes, you can have your cake and eat it too, just in moderation. Once your budget is used up for the month, you’re done. Sorry. 🙁Here’s how I save money when I’m shopping so I can stretch my budget a little further.)
- Don’t go window shopping when you are trying to cut back. Research shows that once you touch something, you are more likely to purchase it.
- If you are trying to save for something specific, keep a picture of the item in your wallet in front of your debit/credit card. This way, every time you pull out your card to pay for something, you will be reminded of what you are saving for.
- Use the self-checkout lanes. You will be too focused on scanning your items to notice the magazines, candy and other distractions placed by the register.
- If you are thinking of purchasing something that is not on your list, wait 48 hours before purchasing it. When the 48 hours are up, you may realize that you really don’t want it after all or maybe you’ve forgotten about it entirely.
- If all else fails, and you make a regretful impulsive purchase, you can always return it. 🙂
How do you keep yourself from making impulsive purchases? Have you used any of the above strategies? Let me know in the comments!
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I unsubscribed from emails from stores and stopped following them on Facebook and that helped too! Out of sight, out of mind.
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SO helpful!! these are very similar to the things I keep telling myself when shopping! Similar to “I already don’t wear everything in my closet, what makes me think I’ll wear this?”
I know! It’s so funny how we have these little voices in our head telling us what we “should” do and we do the opposite anyway! 🙂 Baby steps, I guess. Thanks for your comment!
Good post. I love #6, waiting at least 48 hours. I find that almost everything that I want, that wasn’t on my “list”, I don’t care for a few days later. The checkout line marketing is a killer if there is no self-checkout available! Any ideas to avoid these treats (even though I despise the marketing world, I sometimes fall for it when I just need a little something to hold me over until my next meal)?
Hi Lauren! This happens to me more frequently than I’d like! Sometimes I’ll pack a light snack like almonds or trail mix for those days when I’m out for a while running errands. Other days, I sadly grab a Snickers to hold me over. Thanks so much for your comment! 🙂
Great post. I always take my elderly mother out shopping on Wednesdays. I need …nothing. I’m just going for her sake, but I always end up buying something. Grrrrrr, me.
Great tips! I also use the wait and think method, but I usually wait at least a few days. As you said, I usually forget about it! The other thing I do is try to make-do without it, and you know I often find something around the house that will work just as well for the purpose. And it’s so great to feel I didn’t spend money uselessly. By the way, thanks for the like on my blog! I appreciate it!
Isn’t it a great feeling to repurpose something you already have and not spend any money?! My kind of shopping! Thanks for your comment. 🙂
You’re welcome!
Hmm. I’ve got a bit different take I guess. First off, I realized looking at my email and thinking about what we do that we do a lot of “retail therapy.” Part of that of course is that I’m a retailer, and have been for > 20 years. We’ve had to learn that we can’t buy & store everything we like, we don’t really have the money or the space.
Second, how much space will the item take up? Is there something you can sell it will replace? We a few months ago bought a used garden tractor. Regret it? No I don’t, but we have a gas push mower now that we’re going to sell before fall, to both help defray the cost of the big one and free up some space.
Third, I’d have to say that with many durable goods, we look for used first. Although I spend a fair amount of time looking at hayneedle.com etc for new house stuff, I’m much more likely to buy something at an antique store, thrift shop or rummage sale. And, since you can’t just go out and buy an amoire that’s Victorian and the right dimensions, it means you take longer, budget more and refine what you want a bit — cutting down those impulse purchases.
The impulse buying I have a problem with isn’t bigger items, but small things: vases, small quantities of dishes,etc. Mostly < $20 worth of stuff in a single purchase. But if you do it often enough, and if I don't watch it, I will, it gets expensive!
Great points!
I tend to do lots of research when it comes to larger, more expensive items. I also have issues with the less expensive things. Like you said, they do add up.
Thanks so much for your comment!
You’re welcome. And even lots of research doesn’t always help. We spent 5 months+ figuring out the new refrigerator we wanted. We bought a side by side Kitchen Aid, custom ordered it to get exactly what we wanted. It came complete with a freon leak, after 3 months it stopped working. After three more months and a lot of wrangling with Kitchen Aid, they replaced it last May. At one point they sent our replacement part to Alaska (I live in New England). It was a long, miserable saga. I love the fridge because of the features I wanted and got, but because of the miserable experience we had will probably never buy another Kitchen Aid anything.
Oh no! Sorry about your ordeal. Thanks for the heads up about Kitchen Aid.
I really like #4 — I haven’t heard of that before, but that’s a great idea!
Yeah…that tip helped me save for a trip to Disney. Every time I saw those mouse ears, I put the debit card back!
Great post. I am a *really* big fan of returning items. I buy things and let them hang out in my space for a day or two and decide if they are long time “keepers” or not. I also like to virtually window shop. I have fun putting stuff in my cart and then I just let it sit. The next time I go to the site I see what’s in my cart and I NEVER buy any of it.
That’s funny…I do the same thing with the online cart! The problem is when I come back to my cart, the items are cheaper or they’ve emailed me a coupon. That makes it harder to pass up. 🙂
It is nearly impossible to make impulse purchases if you only use cash. I even budget for things like refrigerators, etc this way. If I assume (correctly) that one of the major appliances is going to need replacing every few years – by having a designated fund, for just those extremely important things, prevents the use of credit cards. It also keeps me from buying too fancy of an appliance! I also have a set amount that I am allowed to spend at Joann’s (my weakness.)
We also assume that my ancient van is going to need yearly work – and have a fund set up just for that purpose. It may not seem like much when you are sticking $20 dollars into an envelope every week, but when your refrigerator drops dead – trust me, you will feel on top of the world when you can walk into Lowes, and pay cash. No stress whatsoever.
Since I sew and cook a great deal – I detest most shopping. I always think that I could make what we really need, and have the overwhelming sensation that I’m being ripped-off whenever I go shopping. It’s a horrible feeling, really. 🙂
Great points! Thanks for commenting. 🙂