Updated: March 31, 2020
Have you ever bought something that you later regret and wished you didn’t buy? This uncomfortable feeling is called buyer’s remorse and we experience this especially when we buy something on impulse.
Most people will agree that impulse buying is bad. But why do we sometimes succumb to it? And more importantly, what can we do to curb this compulsive desire?
Below are some of the strategies I followed, which helped me avoid unplanned purchases.
Avoid getting tempted
1. Don’t go to the mall when you don’t need to buy anything. But if you must, then don’t go inside your favorite stores just to see what’s there.
2. Avoid going to your favorite shopping websites when you’re bored. And don’t forget to unsubscribe from their mailing list.
3. Whether you’re just hanging out or out to buy something, do go to the mall with a shopaholic. You’ll most likely buy something on impulse when they do.
Self-check with questions
4. When you see something that want to buy, ask yourself first, “Did I need this yesterday? Will I need this soon?”
5. Have an honest conversation with yourself and answer this question, “What will happen if I don’t buy this?”
6. Truthfully answer this question, “Am I buying this because I’m angry, stressed, or depressed?”
Manage your stress
7. When you feel like shopping because you’re angry, stressed or depressed, do mindful meditation instead — the positive feeling lasts longer.
8. Take several deep breaths whenever you’re feeling anxious or excited, especially when you see something on sale.
9. Have a mantra you can repeat to yourself when faced with temptation. For example, a friend’s mantra goes: “I’m a saver and a smart spender.”
Implement some spending rules
10. Always pay in cash when buying things that you don’t really need. This strategy is very effective.
11. Leave your credit cards at home when it’s unnecessary to bring it. Just keep enough cash for the day’s expenses in your wallet
12. Never buy a “want” without first comparing its price in other stores or considering cheaper alternatives.
Make a list
13. Always make a to-buy list when shopping and constantly remind yourself to stick to it while you’re out.
14. Create a “needs” list — things that you need to buy above everything else. Look at the list whenever you’re tempted to buy something impulsively.
15. Create a “wants” list and note the date whenever you add an item there. Wait 30 days before buying the item. More often than not, the desire to purchase it will be gone and you can just take the item off the list after a month.
Manage your finances better
16. Allocate a budget for discretionary expenses. This allows you to have a guiltless shopping experience whenever you see something you want.
17. Learn how to be a minimalist. Realize that the less clutter you have and the simpler your life, the easier it is to manage your finances.
18. Define and save for goal. Reminding yourself what you’re saving your money for in the future will help you gain the proper mindset to resist impulse buying.
What about you? Are there any more tips that you can give? Share them below in the comments section.
Photo credit: rosellekingsbury