Here are a few ways to avoid “Impulse Buying”, and keep those dollars in our pockets for something we REALLY need.
My rule of thumb is to wait at least 24 hours after seeing something “I can’t live without”. This gives me time to really think about the purchase, and what benefits it will truly have. For example, I found a great pair of pants that would look cute with an old blouse of mine. I go home, and realize I have 4 pairs of pants that compliment that blouse very well. Do I really need a 5th pair? Probably not.
By giving myself time to think it over, it also gives me a chance to research the product. If I’m going to spend my hard earned money, I want to know the product will be of great quality. Example: I found a blu-ray player for $99 . Sounds like a great deal, right? Well, upon getting home and doing a little research, I found out that this player was a piece of junk. 7 out of 10 people had a problem with it. Is that worth the $99, to have it work for a month? No, it’s not. I also found out that blu-ray disks were really expensive, and I didn’t want to have to pay that much money for a movie. I decided that my very reliable DVD player would suit me just fine, for the time being.
The most important tip I can give you on “Impulse spending”, is this. Ask yourself, “Are all of my bills paid? Is there anything that I truly NEED to pay for?” ALWAYS take care of your responsibilities, first!
The last tip I have for preventing “Impulse Buying” is to always pay with cash. By paying with cash, you see the reality of how much money you are spending on an item. When you slide your card, or even write a check, it is often not a reality that the money you are spending it real. When you hand over a stack of cash, that you know you worked hard for, it becomes real.
Like I said above, we’re all guilty of Impulsive buying, at one time or another, but limiting those impulses will keep your bank account safe, your mind clear and your home less cluttered by unnecessary things.