The biggest obstacle that many people have in their money management is impulse buying. For some people, they think that they need to buy every product that is offered to them. They think that if they don’t buy the product immediately, they will lose the chance to own the product forever. So, whether or not they need the product, they keep buying more products until they realize that they have no money left. Then, they will regret their purchase and wish that they didn’t buy these products impulsively. Yet, when they receive their income again, they will start their impulse buying habit all over again.
While it might be difficult for you to stop your impulse buying habit all at once, you can repress your impulse buying habit and gradually take control of your spending.
Here are some tips to repress your impulse buying habit and save more money:
Always Create A Plan For Your Purchases
You are buying on impulse because you don’t have any plan for your purchases. You don’t know what products that you really need, and you never put it on a list. This is why creating a plan for your purchases can be really helpful in repressing your impulse buying habit. When you have a plan for your purchases, you will think twice or three times before deciding to buy a product that is not included in your plan.
Always Buy With Cash
Impulse buying can be a dangerous habit that will plunge yourself deeper into debt. Why? That’s because many people buy the products that they cannot afford. Combined with their impulse buying habit, they will tend to buy those products on credit, which means that they need to pay for it later with interests. With impulse buying, the more products that you buy, the more debts that you have, and the more difficult for you to pay for it. So, the only way to repress such a dangerous spending habit is to always buy with cash.
Refrain From Visiting Online Shopping Websites
Online shopping websites will always try to attract your attention by giving discounts and deals for the products that they sell there. The problem is that most of the time, you don’t need to buy these products. But, because you see some great deals and discounts, you suddenly want to buy it right away, while the prices are low. This can be very alluring, yet you will only grow your impulse buying habit if you visit those online shopping websites often.
Think About Whether You Will Use The Product Later
Before buying any product, especially an expensive product, think about whether you will use the product later. If you only want to use the product once or twice, why bother buying it? But, if you really need to use the product for long-term, then you can think about buying it. Even so, you shouldn’t just buy it on the spot. You should give at least 30 days before you decide to buy that product.
Spend Your Day Doing Productive Activities
Many people spend their day thinking about what products they will buy later. Instead of doing some productive activities, they are thinking about how they can spend their money. This is not a good way to spend your day. Try to distract your mind from shopping and do various activities that can be useful for you instead, such as exercising, painting, and reading. In this way, you can suppress your impulse buying habit.