End Your Struggle With Spending Money
16Oct

Impulse Buying – 5 Useful Tips to End Your Struggle With Spending Money

Impulse buying is the biggest threat to our financial stability. We buy things which we do not need, meaning that we end up using our money on unnecessary items. It’s equivalent to wastage. The tragedy is that this habit can be addictive, meaning that it can become a serious problem. Luckily, it can be overcome. Here are some useful tips that can help end your struggle with spending money.

Shopping lists

When you make a budget stick to it, ensure that while shopping you have a list of items that you need to buy. The list should only include items that you need. For example, before you go to the supermarket, plan your meals for the week and write a list of the items you will need for these meals and nothing more. Learn to pick only what is on your shopping list and avoid the temptation of picking anything which is not. With this, you’ll find that only what is needed is bought, and you’ll save yourself a great deal.

Shop in the same stores

Shopping in the same stores helps you avoid bumping into items which may be tempting. You already know where the items are located so, you won’t have to search for anything. This reduces the chances of bumping into items that are desirable. It ensures that you buy  only what’s on your list.

Avoid shopping when you are stressed or as doing it as a hobby

Some people resort to buying stuff they like so that they can feel better about themselves. If you have this tendency, perhaps this is a period when you should avoid shopping malls; otherwise you will end up buying something you don’t need. Shopping should not be a hobby and should never drain your emergency fund or max out your credit card. Seek professional help if you find yourself shopping as a way to reduce stress or escape some situations.

Shop alone

Chances of buying items off the list when alone are slim. However, you may find yourself buying items which were not planned for when in the company of friends or even kids.

Don’t be fooled by offers and discounts

We may be tempted to buy items just because they are selling at a cheaper price, only to discover it isn’t what we wanted and cannot return it. Be focused, don’t be swayed by a sweet talking sales person or by adverts, you may end up using cash which was meant for emergencies only to discover later that what was sold to you does not meet your needs.

It isn’t always easy but if you try out these tips, your journey to impulse-free buying habits could lead you to bigger and better savings.

Disclaimer: The above information is general in nature and not intended to be advice. You should consider seeking professional advice before following any suggestions in this blog/website.