Spending on Impulse: How to Overcome the Urge and Save More

Spending on Impulse: How to Overcome the Urge and Save More

Blog Article

We’ve all been there—you pop into a shop for one thing and leave with a bag full of items you weren't expecting to get. Buying on impulse is one of the largest challenges to building savings, and it can sabotage your budget if you’re not mindful. The good news is that getting over impulse buying is possible, and with a little focus and a few simple strategies, you can start putting more aside and making better money choices. The key is to pinpoint the reasons behind your spending and swap those tendencies with healthier financial practices.

The first step to stopping spontaneous purchases is to set up a spending plan and follow it. Knowing exactly how much money you have allocated for extras each month can help you fight the temptation to make unplanned buys. When you see something you want to buy, wait before buying—wait 24 hours before deciding to buy. This gives you time to evaluate whether you actually need the product or if it’s just an unnecessary desire. More often than not, you’ll find that the want to spend lessens, and you’ll save yourself from unnecessary spending.

Another helpful strategy is to limit your exposure to temptation. If buying online is your downfall, unsubscribe from promotional emails and take out saved payment options from tips on saving money your favourite retail sites. If you tend to spend impulsively in person, shop without credit cards and shop with cash instead. By adding obstacles to purchases, you’ll have more time to think about your purchases and avoid getting caught in impulsive buying habits. Changing your spending habits may take time, but the long-term rewards—increased financial security and lower money worries—are well worth the effort.