5 Ways to Stop Impulse Shopping
Impulse shopping is something that can derail your budget and have you feeling a bit hopeless. It might have you thinking it is impossible to start or stick to a budget, but your willpower is not the only thing that can help you stop impulse shopping and stay on budget. In the spirit of James Clear, there are some environmental and physical things you can do that can dissuade you from spending more than you should and remind you of your financial goals.
- Plan ahead for any shopping you are going to do
The fastest way to upend your budget is to get into any store with no plans. Especially stores that inspire you to spend more. *cough* Costco I am looking at you. Me personally, I loveee that store, but something about it makes my one item multiply, and always has my bill at least $150. Since I know it is a place where I can easily go over budget I always have a plan when I go in. I am there to get three things I need and that’s it.
The same thing goes for the grocery store. It may seem old-fashioned to make a grocery list before you shop but it has two advantages; 1) It makes sure you don’t forget anything and it makes sure you don’t go off script and 2) something that is not on the list and not in your budget doesn’t sneak its way into your cart.
2. Leave your credit card at home
Now, this is controversial advice because many people are over-concerned about points and promotions that their credit cards might give them. If you are getting out of debt your number one concern is paying down the card not using them to get points.
There is a disconnection in your brain when you pay for something on your credit card vs debit or cash. When you pay for something with cash or debit the loss of the money from your account is more immediate than when you pay for credit. You are more likely to overspend using a credit card than you are with a debit and definitely more likely to spend compared to when you use cash. I know we are kind of moving into a cashless society but the fear of breaking a bill is real.
3. Take your card out of your Apple Wallet/Google pay
A lot of overspending is done because it is too convenient. You double-tap the button on your phone and your Apple wallet shows up and with a ping your money has been whisked away. That two seconds you need to think about your purchase is going to make it easier to spend without really thinking about the consequences of that transaction. While you're at it delete your saved credit cards from your browser because it basically has a similar effect; there is not enough time between paying and thinking about the transaction.
4. Stay on top of your budget
When you know your budget and review it frequently you are reminded of how much you have left to spend and what your goals are. This will discourage you from overspending. When you do not know what is happening with your money it will lead you to make assumptions about your finances while simultaneously leaving you open to financial mistakes. Hello Auto withdraw without having sufficient funds resulting in a insufficient fee.
5. Pack your lunch
A lot of overspending is done with food. You may be tired or feeling lazy at the end of the day and the thought of creating an entire meal from scratch is as unappealing as a wax appointment. Or you did not pack a lunch and now you’re starving at noon. What’s a $8-$10 meal going to do anyway? But it adds up! All those little meals at the end of the month add up and soon that $8 turns into $50 to $100 or more.
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