How To Stop Impulse Spending?

By- Samyati Mohanty

Ever wondered where impulsive purchasing leads you to? I can disclose four basic causes for why people make impulsive purchases. As follows:

• Our feelings
• Our previous encounters
• Simply for the love of shopping

What we purchase is heavily influenced by our emotions. Our financial situation is strictly personal. It follows that when something is going wrong in our personal lives, it will also manifest in the way we manage our finances.

Does some retail therapy sound like the answer when you're having a bad day? It might not be something drastic. Picking up a new baseball cap or a new pair of earrings could suffice. You justify it to yourself by saying that getting something lovely will help you feel better.

Hold on!

Purely emotional decisions are a proven way to allow impulsive shopping take over. Sneaky marketers are aware of this. To get you to buy, they'll exploit emotional appeals in their advertisements.

Shopping actually improves your mood right then and there. Dopamine, the brain's happy drug, is released by the body when we shop.

This love of shopping isn't necessarily a bad thing in and of itself. What's risky is when your passion of shopping develops into a shopping addiction due to all of your impulsive purchases. Your body begins to depend on that dopamine rush, so you keep feeding it by increasing your expenditure. But the key here is that it's simple to enjoy impulsive shopping—science.

How to Avoid Impulse Purchases

Okay, so how exactly can you avoid making impulsive purchases? Get comfortable because this is where I really want to assist you. We have some advice to help you resist the urge to overspend.

1. Create a budget and follow it.

Priorities: You must create a budget. Stop right here and begin using a free budgeting app if you don't already have one.

The worst part is that you have to follow through with it! The magic wand of a budget won't magically make all of your money behave. You must decide where your money will go each month and then carry out your plan. Spending money should not be made if it has not been budgeted for. Yes, it is that easy and difficult. You are capable of completing this.

2. Permit yourself to indulge.

Yes, I just instructed you to stay inside your budget, and you should do so at all times. But don't forget to include a little spending money for pleasure as well! Assign a line item in the budget to yourself (and your spouse, if you're married) for your leisure spending.

You only need to check your fun money fund the next time you're browsing the mall and anything catches your interest. Now you're free to shop! That reward or treat is no longer an impulse purchase because you have previously earmarked a little amount of spending money for it.

3. Have an agenda while you shop.

One of my favourite strategies for avoiding impulse purchases is to decide what you want to buy and how much money you'll spend before you ever step foot in a store. You'll be less inclined to cave in to impulse purchasing if you have a plan in place. Just make sure you know what you want to get before you leave. Your shopping list might include everything from groceries to the festival presents you want to buy for your extended family.

4. Avoid shopping when you're feeling down.

Don't let your emotions dictate your purchasing habits—we recently talked about this, but it bears repeating! You can be having a great day and decide to buy something on the spur of the moment. Or perhaps you're having a bad day and convince yourself that you deserve something good or that buying this stuff will cheer you up.

We've all been there before. It is fairly simple to do. How then can it be fixed? Avoid making any purchases when your emotions are bouncing around, whether you're happy or trying to cheer yourself up.

5. Quit making comparisons.

When it comes to impulsive purchases, this is a game-changer. You'll never be content if you constantly evaluate what you have (or lack) in comparison to other people. We are playing a game we will never win when we start comparing ourselves to other people.

Take a step back and evaluate your life rather than focusing on what someone else has and thinking, "Oh, I need that too." Become appreciative for the things you do have. You'll discover that you already have a lot to be thankful for if you alter your perspective.

6. Stop using social media.

It's true: using social media won't help if you're having issues with comparisons. If you are aware that scrolling past everyone's highlight reel makes it difficult for you to be content, address the root of the issue. I'm not suggesting you have to give up social media permanently, but give Instagram and Facebook the boot for a week (or more) and see if anything changes.

Even if you don't find yourself slipping into the comparison trap, social media is actually one giant advertisement for impulsive purchases. Someone is attempting to convince you to spend money everywhere you scroll. However, you won't see all the businesses with if you aren't using the app.

7. Recall your objectives.

It may come as a shock to you, but giving in to an impulsive purchase won't help you reach your financial objectives, whether they be paying off debt, paying off your mortgage, or saving for the future. Any extra money you were saving to put toward those fantastic goals will be devoured by impulsive purchases and overspending. Don't put yourself in danger by doing this. Reminding oneself of the significant objectives you are pursuing will help!

Spending money may be a lot of fun, particularly if you spend like I do. However, the thrill never lasts. I want you to do two things today if you want to better understand your  spending habits and gain financial control.

Get on that budget first! It's how you'll stop worrying about where your money is and start directing it.

Second, you'll understand how your past and personality impact how you manage your finances and discover practical strategies for getting started.

Listen, I want you to gain the understanding you require to go past your financial impasse. You can, too! Start using your money with intention rather than impulsively by following these two steps.