How to Avoid Impulsive Buying

 

Are you wondering why you can't keep to your budget?? Or why you keep buying things you did not plan to buy?? I am also wondering the same thing and so I did some research about impulsive buying and how you can stop it.

Impulsive buying is purchasing something that you didn't plan to buy. It can range from that little chocolate that cost only 200 naira to that fifteen thousand naira shoe that you don't really need. Impulsive buying in itself is not really bad if done a few times but it becomes a very big problem when it develops into an habit. Most people think that women are more impulse buyers but that is not true as studies has shown that men are more likely to impulse buy than women as women only impulse buy small items while men easily buy more expensive things without thinking about it.

What Causes Impulsive Buying

• Excitement of shopping- Some people just like buying things, getting new stuffs which is actually good but this feeling of wanting to feel good can actually lead them to buy things they did not plan to buy.

• Getting a deal/sale- when people know that they can get an item at a reduced price,there is tendency to want to buy items that they don't even need. For example during Black Friday, most people order items in a bid to save money but at the long run they spend more because these items eventually lose value or becomes useless.

• Emotions- one major reason why people impulse buy is because they feel happy, sad or stressed. Any of these feeling can make someone buy something without thinking about it.

• The feeling that you need to be rewarded- most time the excuse we give ourselves when we are about to buy something we are not suppose to buy is that we actually deserve it. This feeling can lead to regret later.

Why You Should Stop Impulsive Buying

Impulsive buying is an habit that must be brought under check because it can lead to overspending, debts and of course regret. Impulsive buying can give instant gratification at first but will later lead to remorse as these items on the long run have no value. It can also lead to compulsive buying.

How to Stop Impulsive Buying

1.Make a budget/ shopping list 

The first thing you should do to prevent or stop impulsive buying is to always make a list and fix a budget when you are going to the market, supermarket or when you are going shopping. This is essential because it helps you to buy exactly what you need and so you don't go beyond your limit. It can also help you to prioritize your list so you know what to buy first if you don't have enough to spend.

2. Discipline yourself to stick to your list

It is no news that discipline is really important in whatever we are doing so you should discipline yourself to stick and not exceed your limit.

3. Don't carry extra cash

When you are going  shopping or you are going out, you should not take more than the amount you need. This is a really big strategy to stop impulse buying because if you don't have cash to pay you can't buy.

4. Try to always pay with cash

In this era of debit cards and mobile transfer which is more convenient, spending is actually easier. This is because money on a computer screen or mobile phone actually look small or less noticeable but when you are with cash, it is less likely you will want to part with your money.

5. Don't shop when you are emotional

When you are going through a breakup or when you just won a giveaway is not the best time to shop because you are not really thinking straight at that moment so it is better to postpone the shopping till another day.

6. Create a mandatory wait period before you purchase any item

It is best you always wait for a fixed period, can be 24 hours or more before buying anything, this will give you enough time to get over the shopping excitement and help you to decide if you really need the item or not.

7. Set aside money for fun spending

Always leave money you can use to buy things that you can't necessary think of beforehand so you are not just uptight and not enjoying your money. So leave some money for that treat or that fancy thing that you might just like to get.

Are you an impulse buyer? If no, congratulations and if yes, remember that impulse buying is something you can overcome with a little more discipline and proper planning. 

Do you believe that men are more impulse buyers than women??? Leave a comment below.