How to Put Impulsive Shopping Under Control
- Details
- Category: Personal Finance & Saving
Impulsive shopping is a killer for your personal finances and if you don't learn how to put impulsive shopping under control, debt is just round the corner
Impulsive shopping is one of the most common reasons why people get into debt. It is true that sometimes you see some great stuff and even if you aren't looking for it, or even you might not need it at all, you can't resist the temptation to buy it. If it is just small items you buy every now and then, then impulsive shopping wouldn't be a problem.
However, in many cases it is not just small items every now and then. It is more like expensive junk all the time. Just think about all the hundreds and thousands of dollars the average family spends each month on impulsive purchases and you will figure out why this kind of shopping therapy is becoming a social problem.
Impulsive shopping can be controlled. In fact, if you are an organized and disciplined person, it is pretty easy to do. If you wonder where to start from, here are some simple tips how to put impulsive shopping under control:
Decide How Much a Month You Can Spend on Impulsive Purchases
Nobody says that you must give up impulsive shopping completely. If you earn $5,000 a month and you spend $100 on impulsive purchases, then you don't have reasons to complain. But if you earn $3,000 a month and you spend $500-600 on impulsive purchases, then this should ring a bell. If your impulsive shopping spendings are more than 10% of your income, this is not safe.
Buy Cash, No Credit Cards
When you use your credit card to buy something, you have a grace period to repay your debt in full. After the grace period is over, the credit card issuer starts to calculate interest. Since the interest rates on credit cards are among the highest in the industry, soon you will be owing a lot only in interest.
After all, it is this interest the credit card issuer lives on and it is to their interest to milk the most out of you. This is why you should try to pay cash most of the time. And if you don't have the money to pay cash, don't buy the item at all.
Stay Away from Sales
If you know that you simply can't resist a sale when you see one, the easiest to do is to stay away from sales. You could buy great things at sales but you could also spend more than you can afford, so of the two evils choose the lesser one.
Avoid Shopping Therapy
Shopping when you are sad, depressed, unhappy, etc. can help you overcome the feelings for a moment. However, if you are the one who pays, when you see your bill, you can bet that you will feel much worse than before you went shopping.
Impulsive shopping is not so hard to put under control but when one doesn't know how to do it, the results can be really unpleasant. That is why you need to learn how to control impulsive shopping before it becomes too late.