How to Avoid Impulse Purchases

Impulse buying is a common problem that can ruin both your budget and savings goals, but there are ways to combat impulse spending.

Recognizing both internal and external triggers is an excellent place to begin. Consider your last impulse purchase; what were you feeling at that time, was it meant as a means of masking frustration or boredom?

Set a Budget

Budgeting is a vital tool that can help you control your spending habits and protect savings. Establish a monthly spending limit and stick to it; ensure your money is spent on items that support long-term financial goals rather than extravagancies like dining out.

Impulsive purchasing can often be triggered by something seen or heard, whether that be advertisements, discount sales or even your cool friend who just got something new on Instagram. To limit triggers of impulse buying as much as possible by limiting social media time, curating feeds and uninstalling shopping apps from your phone.

Switching from credit/debit payments to cash is another effective way of curbing impulse purchases and keeping spending within reason. Cash payments require you to think more carefully before each purchase and may help to control spending habits.

Take a Break

An effective way to stop impulse purchasing is giving yourself some breathing room before purchasing anything. Waiting a day or two allows you to gather perspective on whether the item really meets your goals and budget.

Determine who, where, and what trigger your shopping impulses. That may mean avoiding malls, uninstalling retail apps and unfollowing influencers on social media; setting time limits on apps that tempt you the most and using built-in features of your phone (such as Digital Wellbeing on iPhones and "Screen Time" on Android) that limit screen time are also helpful tools.

When you find yourself wanting something, consider creating a wish list instead! That way, friends and family members may surprise you with it at your next birthday or holiday celebration! Or if buying can't be avoided altogether, try the "One in, One out Rule: For every new item you acquire, donate one item."

Curate Your Social Media Feed

Ads, flashy online deals and shopping apps make it all too easy to make unplanned purchases without planning. From scrolling through "lightning deals" on a retailer app to buying something at random in a grocery store - impulse purchasing can drain your finances and leave you regretting your purchases later on.

People buy to relieve stress, boost self-confidence or satisfy a "fear of missing out," among other motives. Recognizing your emotional triggers that cause purchases is key in taking steps to manage them and avoid making impulse buys that won't satisfy.

As much as it's important to share original posts on social media, high-quality curated posts can save time and help keep your audience informed and engaged. When curating successfully, choose sources that are trusted and credible among your target audience so that your content adds value and demonstrates expertise on the topic at hand while keeping your feed looking current and inviting to followers.

Set Goals

Focusing on your financial goals may be the key to resisting impulse purchases. Having specific financial goals may provide motivation to avoid impulse buys.

Peer pressure can lead to impulse buying, particularly if it involves keeping up with fashion or home design trends. A plan can help combat temptation, such as setting up a sinking fund or waiting 24 hours before making purchases - or at least help delay unnecessary ones!

Saying no to tempting new apparel or pieces of wall art may be difficult, but the long-term financial benefits will make it worth your while. By limiting exposure to shopping triggers and controlling impulse spending habits, you'll soon be on your way toward reaching those financial goals faster.

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