Stop Those Impulse Purchases!

We’ve all been there, standing in a long check-out line, waiting. Products line the aisle, everything you need, things you forgot you needed, a snack, a magazine. It’s hard to resist. Or big-ticket items at the warehouse club that you never intended to buy, like that gorgeous, must-have, just the right size, but it was such a good deal, designer purse. These purchases can really add up and constantly take a chunk out of your budget. Although you may think you need these things at the time, typically, you come to regret it later. “Why in the world did I buy this?” or “I shouldn’t have spent the money.” This may all ring even more true if you are having financial trouble or just not saving as much as you could be. 

Here are some tips that can help you control your shopping impulse.

• Put it down and think twice. Give yourself extra time when considering a purchase you weren’t intending to bring home.
• Consider your wants vs. needs. Whatever it is, it’s probably a want. You’ve survived without it, so continue. Think about wanting to save and what that can mean for your and your family. You’ll probably feel more satisfied if you just put the item back on the shelf.
• Bring a list and stick to it. Only purchase what is on the list, unless you really did forget something. For school shopping, don’t stray off the supplies list the teacher distributed—you’ll end up with unnecessary and unused items.
• Make a rule of not purchasing anything from the check out lane. It’s tempting to toss the magazine you’ve been reading into your cart, but, once again, you don’t really need it.
• Decide how much money you can spend before you leave the house, and only take that amount in cash.
• Leave your credit cards and checkbook at home.
• Don’t be fooled by clever marketing inside stores. Signs such as “two for one” or “limit three per person” are specially designed to persuade shoppers to buy more.
• Be discriminating when it comes to a “sale.” It’s not a good deal if you don’t need it.
• Be realistic. Sometimes we’re too optimistic about cooking, for example, that you buy exotic ingredients you never end up using. This same concept can be applied to many different purchases.

Impulse purchases can really add up, translating into what you could have saved.