Those spur of the moment item you pick up as you standing in line every time that you are at the store gradually adds up to thousands of dollars of impulse spending each year and with the economy falling these days, people are looking for ways to rein in that type of spending. Is it possible to pass up that item that has the red sale tag on it that is purposely put right by the checkout line for you to see? Yes, it is. Here are some tips for fighting off that impulse buy the next time you feel the urge to buy that item that is not on the shopping list.
Know what your financial goals are. Are you looking to pay off a credit card bill or saving for a vacation? Remember that goal while you are shopping. Your budget should allow you some fun money, but do not spend more than the money you have set aside for fun money. Thinking of your financial goal when you are thinking about an impulse buy will help you to not overspend.
Know your temptations and avoid them. If you feel that you need the latest purse that a certain manufacturer makes, then try to avoid any store that sells that brand. if you know that as you drive by Starbucks each day, you have to stop and get a latte, then try to find a route that will bypass that Starbucks. That deal of the day that you might see advertised on a social site or in an email is not a good deal if it is something that is out of your budget or an item that you really don’t need.
Try to avoid those trips to the store for just one item. If you must go to get one item, then don’t get a cart. Many stores have larger carts so that once they are filled the customer will be buying more. If you are shopping with a list, stick with the list. Those items that are located near the cash register lines are put there to make you think that you need to buy them this trip when you probably do not need to buy it. Snacks are by the registers so that you will grab that snack as you are in because retailers are assuming that you will be hungry once you see the snacks.
The next time you are shopping and feel the need to buy the latest album or the latest pair of designer shoes, take a cooling off period and give yourself 48 hours to think about it. Decide if you need the new album or shoes or our they just items that you think you have to have. This time will allow you to realize that you probably can live without the item and will eliminate an impulse buy.
As consumers, we must be aware of our spending habits and know our temptations and know how to resist those temptations. We must also be aware of how advertisers and marketers display items just to get us to feel that we must have them. Be in control of your spending!