Spending on Impulse: Ways to Stop the Habit and Save More

Spending on Impulse: Ways to Stop the Habit and Save More

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Everyone’s done it—you go to the shop for one thing and leave with a bunch of things you didn’t plan to buy. Impulse spending is one of the largest challenges to saving money, and it can sabotage your financial plans if you’re not mindful. The good news is that overcoming spontaneous purchases is possible, and with a little discipline and a few helpful tricks, you can start saving more money and making wiser spending decisions. The key is to identify the triggers behind your spending and shift those behaviors with positive, money-saving behaviours.

The first step to reducing impulsive buying is to create a budget and follow it. Knowing exactly how much money you have available for discretionary spending each month can help you fight the temptation to make unplanned buys. When you see something you want to buy, take a break—pause for 24 hours before making a saving money tips for women purchase. This gives you time to think about whether you actually need the product or if it’s just an unnecessary desire. More often than not, you’ll find that the urge to purchase disappears, and you’ll save yourself from unnecessary spending.

Another helpful strategy is to minimise your access to triggers. If internet shopping is your weakness, opt out of marketing emails and delete stored payment info from your favourite retail sites. If you tend to spend impulsively in person, avoid bringing your credit cards and shop with cash instead. By putting limits on your ability to spend, you’ll have more time to evaluate your choices and avoid getting caught in impulsive buying habits. Breaking the habit may take time, but the long-term rewards—greater savings and less financial stress—are definitely rewarding.