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How to Control Impulse Buying
Impulse buying is a bad habit that you need to get under control. It is impossible to stick to a budget if you continually make impulse purchases. Not only that, impulse buying is a huge culprit for people getting into a pile of debt and credit card bills.
I always say that planning is the key to financial stability. Obviously, impulse buying is not planned and is not part of your budget. Here are some tips to help you if you are an impulse buyer or shop as a pass time. If you implement these tips you will see how much easier it is to stick to your budget and your overall financial plan.
Avoid the temptation
Do you have a favorite store, shop or mall that you know if you step in the front door you will be too tempted by all the fabulous items? If so, then these are the places you need to avoid.
If you do need to go to these places, make it a mission of yours to walk in to get only what you went there for and walk back out as quickly as possible. (Oh, and keep your eyes glued to the floor the whole time).
Leave your cards at home
Try taking all your credit and debit cards out of your wallet and keep them at home in a safe place. Just keep enough cash on you that your budget allows. It is really difficult to impulse buy if you have no way to pay for the purchases, you have no choice but to just walk away.
Find other ways to unwind
Many people shop when they are stressed out. Buying nice things does have a way of making us feel better. The thing is, it doesn’t last and will probably make things more stressful when you blow your budget or get into even more debt because of it.
Try finding other ways to relax, there are plenty that won’t cost you a dime. Go for a relaxing walk in a park, meditate for a while or go read a book that will take your mind off whatever is stressing you out.
Put the cost into perspective
One trick I like to use is to figure out how much time I will need to work to pay for impulse purchases. Divide the price of the items you are dying to purchase by your hourly salary. Let me tell you that you will most likely put back that designer handbag when you figure out you need to work two or three eight hour days to pay for it.
Implement no spend time
It could be one day a week, one week a month or whatever you choose, just give it a shot. It definitely will help you stay on budget and keep you on the road to financial freedom. But in addition, it’ll help you realize that you don’t need to buy stuff to be happy, pass the time or relieve stress.
Ask yourself “Do I really need this?”
Impulse purchases are usually made with little or no thought about how it will affect you. Take some time before you hit the checkout and think about how the purchase will affect your budget, your financial health, and your overall financial goals.
You will more than likely put the impulse items back. And after doing this for a while, it’ll just become second nature to you and you won’t even have to think about it.
Impulse buying is just a bad habit. Like any other bad habit, it can take some time to train yourself to stop. But once you do, you and your bank account will be so much happier!!
How to Control Impulse Buying
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