In order to ensure the financial security of your future, it is imperative to stop impulse buying. We have all been in a position where we walked into a store with a list of specific items to purchase and ended up walking out with numerous items that we, originally, did not intend on purchasing. It does not matter if the items were strategically placed by the retailer we shopped, or we stumbled across a deal that we felt was simply too good to pass up, very few of us have the level of control over impulse buying that we need in order to purchase only those items that we require. One of the most effective ways to stop impulse buying is to put off that next purchase until you are absolutely sure that it is necessary. One of the most productive means of achieving success in this area is to put off the impulse purchase for at least 10 to 30 days. If, after that time, you feel as if the purchase is still one that you want to make, you may then buy the product or products; however, in most instances, you will find that you decide it is not necessary, or you will simply forget about it, altogether.
Why is Impulse Buying at an All-Time High?
According to a recent study on Shopper Engagement by the company, Popai, the impulse shopping rate within stores increased to nearly 80%. More than half of all of the individuals that were surveyed within the study, or, approximately 60%, confessed to spending more money on their shopping trips than they originally planned. Behaviors have changed over the years. In fact, it has been determined that the world is a bit more impulsive now than it has ever been in the past. As a result, individuals are more impulsive when it comes to their spending habits. While it is true that many people feel that it is pleasurable to be financially responsible, most agree that it is a different form of pleasure than that which is achieved when engaging in impulsive purchases. People have a natural tendency to seek out pleasure. In a world that is plagued by a wide assortment of economic pressures, most consumers are desperate to experience those good feelings whenever it is possible. The result is impulsive buying.
Simple Steps to Stop Impulse Buying
Now that you know you are not alone in impulse buying and understand the reason why it is so common to make impulsive purchases, it is time to learn a few simple steps to stop impulse buying. By adhering to the steps outlined below, you are sure to save more and spend less:
- Do not trust yourself to stick to your “list” when shopping. In order to optimize your success rate to stop impulse buying, you should only take the absolute amount of money that is necessary to purchase the items that you need. You should leave all of your credit cards, debit cards, cash, and your checkbook at home. This will help you make sure that you do not overspend when shopping.
- When shopping for groceries, you should ensure that you plan out your meals. Take inventory of the food items that you have in stock and focus on meals that may be created with only those items. Chances are, you may require a bit of sugar, flour, or even vegetables to go with the items that you already have, but, at least you will not overspend on items that are not required. Plan your meals, inventory your supplies, make your list, and stick to it!
- When shopping, you should always avoid taking anything other than cash with you. If your wallet is full of credit cards, debit cards, or even checks, you are more likely to spend money that you do not want to spend, or, do not have to spend.
Conclusion
By using the steps outlined in this guide, you will find it easier to stop impulse buying; however, the most important step – which was outlined in the beginning of this guide – is to put off the purchase until you are sure and have put a lot of thought into the purchase. Many practice the “30 Day Rule” where they put off the purchase for 30 days. If, at the end of that 30 day period, they still want to purchase the product, they may do so; however, you may use different variations of this rule. You may choose to wait 10 days, 20 days, or longer! The choice is yours! The ultimate goal is to stop impulse buying so that you are able to save more money, in the long run. If you stop impulse buying today, you are sure to have more money for all of your tomorrows!
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