How to Stop Impulse Buying To Save Money Every Month: 15 Ways

Last updated on May 15th, 2024 at 09:43 am

 

How to stop impulse buying in this competitive economic digital marketing environment of today. Businesses are so strategic about closing sales for their products or services hence professional advertisements are all over billboards, the internet, and radios stations about any item you would wish to buy now and soon.

Most times you would find yourself buying things not on budget due to catchy adverts and this is called impulse buying. Guess what? Not all impulse purchases made are worth it.

Despite physically walking into stores, the most common place where people are lured into impulse purchases is through social media. I have made a couple of unplanned purchases on Facebook and Instagram.

If you are spending on a budget planning to save more consider checking your expenditure patterns to curb impulse purchases too.

Define Impulse Buying

Impulse buying is purchasing what has not been planned on the list of items. These kinds of purchases are normally made with items of different types that are low or high-end like groceries and costly home appliances respectively.

What Are The Different Types Of Impulse Purchases?

Buying things not on a budget comes in several ways for different reasons.  Here are some types of impulse purchasing you need to know about.

• Reminder Impulse Purchase

This is where in the process of picking an item on the list you also pick another different item you forgot to include on the list. You can specifically go for groceries then pass near a cosmetics section and end up buying some lotion.

• Planned Impulse Purchase

This happens when there are discounted offers and promotions on preferred items in the market or at the stores. Honestly, at times when I go shopping with a list then I find something that I wish to buy discounted I end up spending.

• Pure Impulse Purchase

It is where you go shopping with a list but later buy another unplanned item out of immediate emotional desire. Let’s say water is not on the list because you have it in the freezer but since you are feeling thirsty you find yourself spending on a bottle of water.

• Suggestion Impulse Purchase

Here a purchase is made when your minds are diverted with enticing advertisements to an alternative item. After receiving continuous professional messages about cappuccino, for the day you quit the normal coffee that you usually take at a nearby restaurant.

What Are the Causes of Impulse Buying Among People?

Many of us make unplanned purchases for several reasons hence end up costing us beyond budget. Some causes of impulse purchases are as below.

• Fear To Miss Out On Deals

Most people can’t help it missing out on discounts and promotional offers when others are also shopping big, hence businesses make big volumes of sales from impulse buyers at the end of it all.

• Saving Money

At times when you want to save on purchases you may buy unplanned items at the stores or market. This could come up when you find discounted offers or a product you have been searching for a while ago.

• Love For Shopping

If you are a shopping addict trust me it is very hard to avoid buying things not on budget when you make a visit. Some shopping addicts sometimes go to the market or store with nothing in mind to buy but just for fun but end up spending at the end of it.

• Poor Money Skills

Some impulse buyers are just not good at money management in their lives. They spend on anything that makes them happy and this comes from their poor financial background.

15 Ways to Stop Impulse Buying To Save Money

Are you planning alternative ways to save money? Impulse buying should also be prioritized on the list of poor money habits to work on.

1. Stick To Your Shopping List

Writing down a list of items to purchase is not a waste of time when you want to avoid impulse buying. Whenever you write a list make sure that you stick to it no matter what comes across your eyes and mind shopping to save.

A shopping list contains items you want to buy, and anything not on the list bought is poor spending practice. Use shopping list apps like Anylist, BigOven, Bring, and more to organize your lists for the best shopping experience.

2. Stop Promotional Emails

You signed up to email lists of some stores for a good reason but this turns out to bring about a spending problem. Promotional offers are most of the time in your inbox enticing you to spend without budgeting.

You need offers at the right time to save money shopping, here professional promotional emails present product offers all the time.

Guess what? The best way to overcome impulse spending here is to put off those unnecessary interesting enticing promotional emails from businesses you signed up with.

3. Keep Away the Credit Card

Let the credit card be far away from you whenever you are going to do shopping to avoid unplanned spending. It’s hard to miss out on a sale when you have a credit card with you during shopping time.

Impulse buying results in credit card debt which impacts your financials. Stop using your credit card when you still have spending challenges as a person.

Start using debit cards to adopt money management best practices by prioritizing your expenses to save money.

4. Use Cash Money

You spend less money at the store when you go shopping with hard cash compared to using a debit or credit card. Also, it is easier to part with electronic money than hard cash.

Using hard cash is a great way to work upon impulse spending behavior despite some places where they don’t accept it. Sure, some places want credit cards or debit cards as the means of payment for mostly security reasons.

When your hard cash gets finished on planned items you are limited from making any other purchase out of impulse buying effect.

5. Adopt A No Spend Challenge

Quit spending on some discretionary items for some time to avoid impulse buying. Most times the things we buy not on the budget are not basic in life.

When you implement a no-spend challenge there are periods when costs on wants are completely cut. You only spend on basic expenses like rent, medical, utilities, and others.

Some things to avoid during the no-spend days include parties, buying new clothes, new phones, and other non-essentials. Have always saved money during these times since spending is prioritized for basic needs of life.

6. Defer a Purchase

It is not a must that you have to spend every time you come across a basic item that you didn’t include on the list. Schedule it for a later period to be included on the shopping list to come.

When you defer a purchase for a later period you don’t spend with emotions since the buy is digested to fit the coming list. Impulse buying results in regrets due to excitement whereas deferred purchases allow you to think through a purchase to avoid unnecessary spending.

7. Check Spending Habits

When you want to save money come to a point where you have to look through your spending behaviors. Here you will come to know whether you are an impulse buyer or not.

If it shows that you spend a lot of money out of excitement and on things that are not on budget like gifts, movies, and games with purchases made at the wrong time, then check yourself.

After realizing all this make sure that you take action immediately to overcome spending with impulse for the best with your finances.

8. Automate Your Savings

You believe you have a spending problem, right? Automating savings from your checking account will overcome unplanned spending.

This practice will leave you with only planned money for monthly expenses instead of making appropriations alone whereby you get tempted to forego savings for impulse purchases.

There is a lot of money spent on impulse purchases which can be diverted to grow your savings faster for future investment goals. I like the fact that you are limited on how much to spend because it is hard to claim any money from savings for personal use.

9. Buy Items with Warranty

Some items on sale don’t have a warranty because they are not in good condition and can’t be returned. Here money is lost when you find out that the product bought with impulse has gotten faulty.

These products are on promotion and discounted which is quite interesting for the average person out there to make a quick purchase. But it is such a painful moment losing money just like that when you find out that the item bought can’t be returned.

Even when you are an impulse buyer realizing that some items have no guarantee will limit you from making multiple purchases to avoid losing money on substandard products.

10. Avoid Comparison

Some people find themselves making impulse purchases due to the comparison effect at the store or market. The moment you start comparing the usual items you buy with big brands in the market you may end up spending more money on purchases.

It is not a bad idea to compare items but the problem is doing it at the wrong time and immediately making a purchase that was not planned.

At times people don’t buy an item because they are really in need of it but just because someone else has it. This is an emotional spending problem that can only be worked upon by making comparisons at the right time.

11. Budget for Impulse Purchases

This sounds crazy, right? But before you judge me, I need to explain in detail for clarity.

When you allocate money on the side for making impulse purchases, it means you are going to spend within that amount. However, if there is no fixed money aside to buy things not on budget you can’t control how much you are going to spend.

The amount allocated can be spent whenever you go shopping, every month, every quarter, or whichever period feels right for you given it is planned.

12. Go Shopping With a Sober Mind

There are lots of things that make us end up buying items that we hadn’t planned for in the budget while at the store or market. The items you buy on impulse sometimes tell your condition for that day.

When you go to the store tired, frustrated, or high some of the items you buy there tell your condition. Shopping addicts during stressful times like to go window shopping hence buying things not planned.

Going to the store with a clear mind will save you from spending with poor emotions. If you are not feeling good for the day postpone or let somebody else do it for you.

It doesn’t matter whether the best way to get stress off your head is going to the stores but over some time the practice will drain your wallet.

13. Shop with a Partner

Impulse buying is a disease to some people and it takes a while to go about it. As you are working towards recovery you need a shopping partner with a frugal mindset.

A shopping partner should be able to strongly guide you where necessary to stop you from making unplanned purchases at the store. The partner has to be aware of what you are going to buy or even guide you when making a list.

14. Check Social Media Less

I don’t know how often you use social media in a day but this is where most people get trapped into impulse purchases. Limiting the number of times you visit social will save you from enticing adverts.

There is always something on sale with a professional social media advert that takes you into making unplanned purchases. Take a look back at the number of items you have bought through social platforms, most of them were not planned at all.

It is not about using the platforms but the enticing advertisements hence social media visits must be reduced to overcome the spending problem.

15. Shop Around

Your favorite shopping store would be Walmart but it doesn’t mean that when you don’t find there what you want just buy whatever you come across with the money left.

Look around other shopping stores to get what you want instead of using the money to make unplanned purchases. Places like Target, BestBuy, Costco, Wayfair, and more might have a lot in stock at cheaper prices than your normal shopping option.

Any money you have planned should buy what it is supposed to or else postpone the purchase for a coming budget to avoid impulse buying.

FAQs – How to Stop Impulse Buying

• How Much Money Can A Person Save When Impulse Buying Is Stopped Completely?

This will depend on how much you spend making impulse purchases a month or whenever you go shopping. Let’s say when you look through your expenses a month impulse purchases make about $500, you can expect to save around that amount with best practices.

• How Best Can I Stop Impulse Spending?

Look into your spending patterns to choose the best strategy that works fit for you to save. If you spend out of the budget with credit cards, shopping online, shopping alone, not sticking to a budget and more then you just have to do the opposite.

• What Type Of Partner Do I Need To Go Shopping With To Avoid Impulse Spending?

You need a financially frugal partner who will be hard on you to spend on a budget to save. Not everyone has to accompany you when going shopping because some just make you spend more.

Conclusion

You might be a victim of impulse buying working hard to overcome the spending problem to save money, right? There’s nothing to hide because many have been facing the same challenge too.

Look through write-ups and talk to people about setting up yourself for success because applicability is a different story.