Have you ever found yourself regretting those spontaneous shopping sprees that leave your wallet empty? When was the last time you bought something on a whim? So, how can you stop them, or in other words, how to stop making impulse purchases?
It’s time to take back control of your finances and put an end to these unnecessary purchases that drain your wallet.
But what is the thing with impulse purchases?
The truth is that nobody is immune to impulse buying, regardless of their level of self-control or self-discipline.
Never making an impulsive purchase seems unrealistic in preventing impulsive purchases. I’m sceptical that’s even possible.
Then, why am I writing this blog post?
Although the headline says How To Stop Making Impulse Purchases, it doesn’t mean I’m trying to forbid you from spending money. It seems like none of us is allowed to spend any money on fun and wants.
But it’s quite the opposite.
None of us has to be doomed for life for making impulse purchases – including me and you.
The thing is to figure out how to stop making – excessive – impulse purchases and take them under control for good.
At least, you can reduce your impulse purchases until you can get them under control. And then make them fun and rare.
Plus, they should be affordable and under control. Otherwise, you, me and anyone else is doomed to burnout.
Impulse purchases don’t happen only in brick-and-mortar stores but in online stores, even on social media. So, the temptation is high, and it’s no wonder you’re not aware yet that you spend your hard-earned money impulsively.
But if you have found this blog post, it’s a good starting point, so keep reading.
What Is An Impulse Purchase?
If you didn’t plan to buy it in advance, it’s an impulse purchase. And it’s always driven by emotions.
So, you had a tough day at work and want to treat yourself to feel better. Or, if you had a successful day, you want to reward yourself because you’ve earned it.
Does that sound like every time your emotions are intense, you think you need to buy something to give satisfaction to those emotions?
It’s awful not just for your wallet but also for your emotions. But that is what an impulse purchase is when you start scratching the surface.
And how about FOMO (fear of missing out)?
Do you ever catch yourself up buying something because you think you’ll need it in the not-too-distant future?
For instance, you don’t want to miss out on a good deal, sale, or the latest and greatest product, so you spend your money impulsively. You didn’t think it through; you didn’t stop and ask yourself: will it bring value to me? You were afraid you were missing out on a good deal, sale, or product, so you bought it, only to find out that you regret buying it after a few days.
If this is happening way too often and if all purchases are on your credit card, then this is likely and surely going out of control with every subsequent purchase you make.
You had the money and didn’t have a reason not to.
But here’s the thing. You can (and should) learn how to stop making impulse purchases.
You can always try your best so your impulse purchases do not grow into a never-ending debt. And this can happen since impulsive shopping often leads to overspending.
But before you move on to how to stop making impulse purchases, here are some reasons why none of us is immune to impulse buys. And that’s why learning how to stop making impulse purchases is a process. It can’t happen in an instant.
Reasons For Making Impulse Purchases
There’s always a reason for what me, you, and anyone else is doing, or in this case, making impulse purchases. And the worst part is when we blow our budgets on stuff we don’t need. So, here are four reasons why most people make impulse buys and regret it later.
#1 Novelties
Are you prone to buying never-seen-before shiny new objects? That can be rather tempting, and it’s not the best move for your wallet.
These items usually come with a hefty price tag because they’re new and shiny. As an early adopter, you’re essentially paying a premium for the privilege of being one of the first to own it.
And, buying something new means taking a risk. You don’t have the luxury of reading reviews or getting feedback from others who have already purchased the item.
As time goes by, the price of these items tends to drop. So, by being patient, you can save a significant amount of money and stop making impulse purchases.
#2 Brand Loyalty
Brand loyalty can be detrimental to your wallet for a few reasons.
First, being loyal to a particular brand means you may limit yourself from exploring cheaper alternatives that offer similar quality products or even value for your hard-earned money.
By sticking to the same brand, you may end up paying higher prices for products or services that are available at a lower cost elsewhere.
Additionally, brand loyalty often leads to impulse buying, as you may feel compelled to purchase products solely because they are from your preferred brand, even if you don’t really need them.
So, brand loyalty can prevent you from trying new products that might be more innovative or better suited to your needs.
It’s super important to be open-minded and consider alternatives to save money.
#3 Advertising And Social Media
Well, advertising and social media can harm your wallet for a few reasons.
First, advertising bombards you with enticing deals and products, tempting you to make impulsive purchases that you may not actually need.
Second, social media platforms are designed to keep you engaged and scrolling for hours, exposing you to more ads and potential spending triggers.
So, advertising and social media can significantly impact your spending habits and lead to making impulse purchases.
And that’s why it’s necessary to be mindful when spending money and have a budget to avoid falling into these traps.
#4 Peer Pressure
Peer pressure can also have a detrimental impact on your wallet for several reasons.
First, it often leads to impulsive spending decisions on things you don’t actually need or want, and even can’t afford, just to fit in or keep up with your friends.
Also, peer pressure can influence you to participate in super-expensive activities or events that are beyond your financial means.
Whether it’s dining at an overpriced restaurant or going on a luxurious vacation, you might feel pressured to spend more than you can reasonably afford.
And at the end, succumbing to peer pressure can also make it complicated to prioritize your own financial goals and save for the future. It’s vital to make choices based on your own financial situation and not let others influence your spending habits.
Tips To Stop Making Impulse Purchases
When you’re buying excessively and way, way too often is what stands for making impulse purchases, but there are ways to overcome it.
So, below are seven tips you should consider if you want to learn how to stop making impulse purchases so they can be rare, fun, and even affordable, as I mentioned earlier in this post.
#1 Make A Budget
Implementing a monthly budget is a great way to understand how to stop making impulse purchases.
It all begins with tracking expenses, which allows you to identify areas where impulse buying tends to happen. It’s usually your non-essential spending.
By knowing where your money is going, you can make more informed financial decisions.
It’s super important to have specific spending limits for each budget category, especially for your non-essential spending, like shopping and eating out.
Sticking to these spending limits helps prioritize your financial goals, curb impulsive purchases and ensure that you’re spending within your means.
By following a budget and being mindful of your spending habits, you can better manage your finances and have more control over your financial future.
#2 Stop Going Shopping When You’re Emotional
When you’re feeling emotional, it’s generally not the best time to go shopping.
Emotions can cloud your judgment and lead to impulsive purchases and regretful decisions.
When you’re feeling down or stressed, your judgment can, without question, become clouded, making it harder to make rational choices. It also causes you to make spending decisions based on temporary feelings rather than practicality.
Also, emotions like stress, sadness, or anger can influence you to use shopping as a way to cope, leading to unnecessary spending and potential financial strain. It can also push you to buy things you don’t actually need or can’t afford, so in every way, it provides temporary comfort or a distraction.
So, going shopping when you’re emotional often leads to buying things you don’t truly need or want, wasting your hard-earned money.
It’s better to take a step back, calm down, and approach shopping with a clear and rational mindset.
#3 Make A Shopping List And Stick To It
Making a shopping list and sticking to it is a great way to stay organized and avoid impulse purchases.
Start by taking inventory of what you already have and what you need. Then, categorize your items into sections, like groceries, household items, or clothing.
Yes, you read that right, make a shopping list even when you buy clothes.
Next, write down each item on your list in a structured and organized manner. Be specific with quantities and brands if necessary.
Prioritize the items you absolutely need, then add optional items if you have extra money or space.
When you’re at the store, resist the temptation to deviate from your list while shopping.
A shopping list not only helps you save time but also ensures you don’t forget any essential items and prevents you from making impulse purchases.
So, having a list is a must, whether it’s groceries or any other shopping.
#4 Make It Difficult To Spend Money
If you’re shopping out of boredom, you should find other activities to fill your time. You can use your spare time in different ways, so get creative and explore activities to occupy all of your time.
It’s even better if there’s anything you wanted to try but didn’t have time or something else was more important to do. Maybe that’s DIY around your house or crafts like handmade jewellery or gifts for all special occasions.
But there are four ways you can purchase anything: in a brick-and-mortar store, on your favourite websites and social media, and through email notifications.
You can avoid brick-and-mortar shops by taking a different route rather than the usual one.
As for online shopping, first, delete your debit card info from your favourite websites.
And next time you want to purchase anything online, say no to saving your debit card info on your favourite websites.
Challenge yourself to write your debit card numbers and other info when you buy something online. In the meantime, you may give it a second thought and decline your purchase.
And, as for social media, if you see something that catches your eye, save it for later.
But I should not forget about email notifications from your favourite retailers. And don’t hesitate to open and check them out, but save them for later.
For all four ways of buying items, implement the 24-48 hour rule. After the waiting period, you’ll see it with fresh eyes, and then, if you still want it, buy it.
The key is not to ignore the offers but to ask yourself what you would do with it. So, will you regret it after you buy it?
When you make it complicated to spend money, you help yourself figure out how to stop making impulse purchases.
#5 Surround Yourself With Supportive Influences
So, imagine this: you’ve decided to curb your impulse buying habits and you want to make sure you stick to it. One great way to do that is by reaching out to your nearest and dearest.
Let them in on your goal and ask for their support. By discussing your progress and struggles with them, you can gain valuable advice and insights that might help you navigate challenges and keep you accountable.
Engaging in open conversations with like-minded individuals who understand your struggles can be incredibly motivating. They can provide encouragement, share their experiences, and offer valuable advice that may help you stay on track.
#6 Return Impulse Buys If You Can
Returning impulse buys can be a smart move for a few reasons.
First, impulse purchases often happen when we’re caught up in the excitement of the moment, leading us to overlook practicality or long-term value. By returning them, you can reclaim that money and allocate it towards more essential items or savings.
Second, returning impulse buys encourages responsible spending habits and helps you prioritize your needs over impulsive desires.
It also prevents clutter in your home and helps you maintain a more organized space.
Plus, recognizing and correcting impulsive purchasing habits can help in developing better spending habits, enabling you to make more thoughtful and intentional purchases in the future.
It’s a win-win situation that benefits both your wallet and peace of mind.
#7 Define Your Financial Priorities
It’s crucial to assess your financial priorities if you want to achieve financial success. Also, setting financial goals is the first step towards a more purposeful and mindful approach to spending.
By taking the time to evaluate what truly matters to you, you can set meaningful financial goals that align with your values. This process allows you to make informed decisions about how you spend your money rather than being influenced by impulsive and temporary desires.
For instance, if you prioritize experiences and personal growth, you might choose to allocate more money towards travel or education rather than material possessions.
It’s about being intentional with your money and making choices that serve your long-term goals and personal values.
And it’ll also help you out on how to stop making impulse purchases.
#8 Practice Mindfulness
When it comes to impulse buying, emotions often play a significant role. Stress, boredom, and even happiness can lead you to make impulsive purchases without much thought.
By practising mindfulness, you can become more self-aware and recognize these emotional triggers when they arise.
This heightened self-awareness allows you to take a step back and make conscious decisions at the moment rather than giving in to your impulses.
Engaging in activities like meditation, yoga, or journaling can help you cultivate a more mindful mindset, allowing you to pause and consider your actions before making any impulsive purchases.
Final Thoughts
Your impulse purchases don’t make you less worthy of a person. You’re not your impulse purchases. And, you too, can figure out how to stop making impulse purchases.
It can be a challenge, but with the right approach, you can regain control over your impulse buying.
By taking a step back and reflecting on your priorities, you can start to question whether those impulsive purchases really align with what you value most.
Remember, taking charge of your spending means being intentional with your hard-earned money, allowing it to be used wisely in ways that truly matter to you. So, make a conscious effort to resist those impulsive desires and start building a stronger financial future today.
Was this helpful? Let me know in the comments below. Also, make sure you don’t miss out on clicking those like and follow buttons on Facebook. And while you’re at it, don’t forget to hit the follow buttons on Instagram and Pinterest, too. It’ll keep you updated and in the loop with our latest posts.