Impulse buying is one of the most common ways for consumers to get themselves into financial trouble. Even if it’s just every once in a while, spending outside your budget will eventually create problems with debt management. Try these strategies to cut impulse buying from your finance habits.
Ways to Curb Impulse Buying
Quitting impulse buying cold turkey can be difficult if not impossible. Sometimes we simply don’t realize we’re buying things impulsively until we’re drowning in debt. Here are some ways to curb the habit and even eliminate it from your life.
- Avoid Temptation – The easiest way to limit how much unnecessary spending you do is to limit exposure to unneeded items. Visiting the mall or surfing online shops in your spare time creates purchase urges. If you can cut out the window shopping, then you’ll automatically reduce opportunities to overspend.
- Implement a 30 Day Rule – Time can play a big part in helping us consider the consequences of our actions. For any purchase that isn’t immediately essential, like groceries, force yourself to think it over for 30 days. More often than not, this extra time will result in choosing not to spend.
- Make a List Before You Shop – Sometimes we go to buy something necessary but get sidetracked by an impulse. Try making a list of only what you need before leaving the house. Focusing your objective when shopping makes it less likely to get sucked into an impulse trap.
- Go Cash Only – Carrying only cash forces you to shop only for essentials to stay within your budget. Additionally, leaving the cards at home reduces the risk of racking up personal credit card debt.
- Don’t Shop When You’re Vulnerable – Avoid grocery shopping when you’re hungry. Hunger makes you less reasonable, which will lead to impulsively buying junk food. Similarly, don’t shop for clothing or other goods if you’re upset or angry. A heightened emotional state makes impulses stronger and affects judgment.
Whether you use any of these tips or use a different method, take steps as soon as possible to limit impulse buying. If you can cut it completely, you’ll find it easier to accomplish bigger financial goals. There are lots of reasons to curb spending habits, and eliminating unnecessary impulse purchases is the first step to practicing responsible money management.
If you need help getting out of debt, call American Consumer Credit Counseling today at 800-769-3571.