HOW TO STOP IMPULSE BUYING

Shopping can drain your money, especially if you buy things on impulse, or buy based on wants rather than needs. With the advent of online shopping and home delivery today, many people may find it even harder to resist impulse buying.

One easy way to curb the “buy now” habit is to set a waiting period. When you see something you’re tempted to buy, wait a day, a week or even a month before buying it. This allows you to determine if you still want it after the initial urge has passed.

Letting time pass is the best way to know if you truly want something. And if you really do want to buy it, see if you can find it second hand first. Second hand can still be a good source of quality items.

Here are more ways to prevent significant overspending.

> UNSUBSCRIBE from marketing emails and unfollow shopping-related accounts to avoid temptation.

> CREATE a budget and limit the number of items you can buy. Keep track of what you’ve bought.

> MAKE a shopping list and stick to it to avoid buying unnecessary items.

> DON’T shop when you are upset; it’s easy to buy things for temporary relief when you’re unhappy. Emotional highs and lows impair judgment, leading to unplanned, irrational purchases you might not otherwise have made.

> AVOID shopping with impulse-happy friends. This can lead to unintended spending or purchases you might later regret.

> RESIST the temptation of sales and discounts. Ask yourself, would you buy the item at its full price? If the answer is no, the discount is just the bait. Terms like “limited time only!” or “stock running out!” are a psychological tactic to rush your decision, not a genuine reason to buy.

> IF you’re a compulsive shopper, buy from stores with good return policies so that you can get back your money or exchange the goods for things you really need.

(Image credit: 1 Million Women)