Updated: March 30, 2022
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 you 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 them. 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.
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Photo credit: rosellekingsbury
Nice list. Minimalist is very effective. Less is More.
More often than not I feel the remorse. Its very tempting if the items are on sale. But since my goal for 2016 is to save for a future investment, I focused my self in the long term value of my money. Since I’m an ofw my needs only is food and water. Accommodation, transportation and electricity are all company provided. I am really thankful for the reminder of this blog. Thank you.
Don’t store your credit card details on your favorite online shopping websites.
Still slapping myself for the last toy I purchased before moving to the Philippines. $10.000 USD is still over a half million pesos even with the US Dollar losing ground on a daily basis. While I am super thankful for the successful business ideas my beautiful bride has cooked up, an extra 10K USD into any of those ventures or yet another of her ideas and we would be so much further ahead than we are today. NOT complaining but I did (I HOPE) finally learn my lesson on stupid spending.