Impulse buying is something which we can’t avoid because of its attractive nature. It always feels like “wow” when you’re actually doing it. Whenever you notice anything which you apparently like, you buy it, and the thrill is unmatched like anything else.
However, impulse buying can become a huge issue for some individuals. It can be a real disaster when due to impulse buying you shop a lot and face the consequences later on. The main reason could be anything; it can be an obsessive-compulsive disorder, your personal emotional issues, or may be the lack of discipline. Buying impulsively can have a huge effect on your financial situation and your relationships.
So what can you do to control your impulse buying and stay away from financial distress through the best way possible? :
1. Prepare a budget
Making a list of expenses and doing a budget accordingly every month is the key path to eliminate impulse spending. When you have already planned how your money goes out, it’s become very easy to control the urge of buying extra. , so that you won’t cross the line if you want to.
2. Prepare a list and try to stick to it
I always like to make the list of everything, especially for shopping. Think what are the things you require at that time and make a clear list. Shopping need to be organized in such a way that you would never have to remember the commodities you were thinking of buying. Write those names and keep the list with you at the time of shopping. Make sure you only buy those things that are listed on your buying list. into making impulse shopping.
3. Always use hard cash
Using hard cash is the best way to limit your shopping. Just like making a list of what you buy, using hard cash controls the urge of impulse buying by limiting your payment option.
When you use hard cash, you can only spend that much money which you have in your wallet. You’ll need to monitor your pocket much before you run out of money; so practically, you’ll start to limit your spending. But, the opposite happens when you carry a credit card with you. Using credit cards makes you comfortable and by doing so you have greater chances to spend impulsively more than you actually intended to. This will definitely blow your budget off.
4. Be careful with your company while shopping
Going for shopping alone is boring. But, if you are accompanied by your relatives, friends, or any other close people who love to spend freely, that would be troublesome for you. Maybe your friends have more money than you. But, it’s not necessary that you also have to spend like them just to match your living style with them. It’s natural that everyone has their own lifestyle and way of spending money. To fit in with others, you don't have to harm your spending habit, your budget, and your peace of mind.
Don’t take mental pressure from others or yourself. No one can compel you to disturb your spending habits. Don’t invest money in something you know you shouldn’t be spending. Remember, your friends won’t be paying all that bills for you. If your friends are avoiding your company just because you are acting frugal, then believe me who wants such kind of friends?
5. Use calculator frequently
Take a calculator along with you while shopping. As you purchase items or add items to your wish list (cart), make sure to add the price on your calculator. . So, you can add or remove item(s) according to your budget and be able to keep a track of your exact expenses for the day.
6. Don’t buy groceries when you are hungry
Getting groceries at the time you feel hungry is not a good idea. Being hungry, if you go for groceries, there are pretty solid chances that you’ll buy lots of delicious but costly treats. To satisfy your taste buds at that specific moment, you’ll forget how you’ll manage in the coming days. You may buy tons of high-calorie snacks, drinks that are both costly and bad for your health. You might buy too much amount of food that you can’t finish at all. As a result, the remaining food will be wasted. So, stop throwing your money into the trash can anyway!
7. Carefully shop online
Online shopping facility enables you to buy what you want at any time through your laptop, tablet or cell phone, just by 1 click. But it is also right that online shopping easily triggers needless spending without thinking about anything. As a responsible buyer, you must remember that it’s very easy to buy but, it’s not that easy to make payments on those bills. The more you buy, the more you gather debts. The more you make late payments or minimum payments, the bigger your debt amount would be. If you get the delivery man waiting at your door with the package from online stores and you don’t remember when and for whom you have ordered this, you may have a problem with impulse spending.