People With Impulse Spending Make These Mistakes Way More Often
Impulse spending is something that can get out of control quickly. Want to how to completely deal with it?
Impulse spending can be pretty dang addicting. Oh, don’t you love, love shopping, especially from the comfort of your home? It’s so convenient, you don’t have to drive anywhere or deal with the kids.
It’s so easy to get a rush of instant gratification, once you press the purchase button. Oh, and when the package arrives in your front door is like opening presents.
Sounds lovely, doesn’t it? If you struggle with impulse spending as much as I do, then you know this one is for you.
The good news is that you can take steps to prevent impulse buying from taking over your paycheck. Here are some tips that will help you do just that:
This post is all about the best ways to prevent impulse spending that you wish they’d teach every woman in school.
So what’s the impulse spending definition, anyways?
It’s just when you buy something you didn’t plan for or you don’t need. You just buy it without thinking too much about it. It can be a small purchase or a large purchase. Either way, you feel the need to have it right now!
What are some impulse buying examples?
I’ll be the first to admit that impulse buying it’s kinda fun, especially if you like the rush of instant gratification. I mean who doesn’t like to spend money, right?
Let’s imagine that you are going to Walmart to buy just toilet paper, but then you come home with A LOT more than toilet paper. (that’s impulse buying!)
Or walking into a car dealership just to browse, and walking out with a brand new car.
Think about it, if the purchase is NOT planned, it’s just another impulse buy.
But, we are all guilty about it! It’s like we are all in crack, trying to get the next high.
Why is impulse spending a poor practice?
Because it will keep you broke! And, it’s such a hard addiction to break!
People with impulse spending make these mistakes way more often…
First off, they don’t take the time to figure out what their impulse spending triggers are
Emotions can drive us to buy thing we don’t need, just so we can feel better about ourselves again.
You have to dig deep inside you and ask why. Is it because I’m having a rough day?
Check in with your emotions. And figure out why do I feel the urge to shop? Sometimes it’s just because of no reason. Maybe you’re just bored. In that case then pick up a hobby. Or just simply clean the house.
Causes of impulse buying can happen because of not practicing gratitude daily
Mindlessly going thru life can affect impulse buying in a negative way. So, stop, think, and appreciate what you already have. This just won’t save you money, but it will save you time too. You won’t waste money on something you already had at home.
People who practice gratitude daily are A LOT happier. Having this mindset will prevent you from comparing yourself to others and feeling like your always missing out on something.
Practicing gratitude doesn’t have to be difficult at all. You can just take 5 minutes or less to jot 5 things you are grateful for that day. You’ll be practicing contentment (which is WAY more effective in preventing impulse buying.)
People who fail at impulse spending don’t have real boundaries
You have to create boundaries to protect yourself from overspending. For example, you can set up a boundary of no online shopping after 5pm.
Also, if you feel tempted to buy something online or in the store, but you clearly know it’s an impulse buy. Then, take a photo or a screenshot of the item. And, wait 72 hours before you purchase it.
Creating boundaries will help you control your impulse spending.
They never learn how to delay gratification
More than likely people who can’t control impulse spending never learned to say no to themselves. That means they never learned to delay gratification. They are more likely to be impatient and don’t want to wait to save up the money to purchase it later with cash.
This behavior it’s exactly what’s keeping you broke. But, the good thing is that once you recognize it, you can make adjustments and learn to wait until you have the money in your budget to purchase it.
They don’t budget
People who are impulse buyers usually don’t care about a budget. They view it as if the budget restricts their power.
But a budget is what gives you the freedom to spend on whatever you want and avoid spending more than you have. (So, you won’t ever go into debt.)
Budgeting doesn’t have to be complicated! You can even set some money aside for impulse spending. And once that money is gone it’s gone.
Avoid impulse spending by being intentional with your money and having a budget that allows you to spend money you have.
CHECK OUT: How To Budget On a Low Income
How to stop impulse spending?
Make a Budget:
There is no better way to prevent impulse spending, than to create a budget. A budget that you can actually stick to. (And, here’s exactly how to stick to a budget in 3 easy steps.)
It shouldn’t take you longer than 10 minutes, especially since here’s a template for free (from bysophialee)
CHECK OUT: A Step-By-Step Guide On How To Set Up A Budget.
CHECK OUT: How To Budget Money (3 Insanely Helpful Tips You’ll Wish You’d Known Sooner.
Pay Yourself First
As soon as you get your paycheck, set aside some “spending money.” Maybe it’s just $20, $35…whatever the amount is you get to spend money yay!!!
So, pay yourself first before you start paying ANY of your bills. Once you decide on the amount that means you get to spend some money on whatever you want, no questions asked. That way, you are giving permission to spend without feeling guilty, (which is actually better than impulse spending!)
Create a Money Routine
Get into the habit of looking at your checking account every day, especially before you make a purchase. That way, you won’t accidentally overspend.
Even if you haven’t spend any money and the balance is the same, take a look at your budget daily and feel free to tweak it!
Set Up Financial Goals
When you have a clear goal in mind, you will do anything in your power to attain it. So, set a financial goal. Maybe you want to be debt free. Or maybe you want to start saving your emergency fund.
Whatever the financial goal is, focus on it. Remind yourself why you’re questioning every purchase. When that goal is freshly in your mind, I bet you can stop yourself from impulse spending.
Act With Grace
Knowing that it will take time to really, really control your impulse spending should remind you to be more kind to yourself and your budget.
Any little improvement on your impulse spending should be celebrated!!! Because you’ll feel like a queen that’s in total control of your money, which is a pretty powerful feeling.
Alright that’s it for my impulse spending tips!!
(I’m curious to know how you deal with impulse spending. I would love to know what was the most difficult thing you had to overcome to prevent you from overspending.)
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