Tips to Avoid Impulse Buying

Impulse buying – almost everyone has given in. Whether it’s that candy bar at the grocery store checkout, that pair of sneakers you walked by in the mall or that “buy now” button in an email from your favorite store, it can be hard to avoid impulse buying. In fact, 84% of all shoppers admitted to making an impulse purchase. And over half of US shoppers admitted to spending $100 or more on an impulse purchase.¹

What is impulse buying?

The definition of impulse buying is purchasing goods on a whim, without planning to do so in advance. Most of the time, impulse purchases are unnecessary items that may provide some happiness at first, but not over the long term. If impulse buying becomes a habit, it could lead to debt and hinder your savings goals.

Why do we impulse shop?

Impulse buying occurs due to both internal factors as well as external stimuli. Certain personalities, such as sensation seekers, are more prone to it. Emotions also play a major role. If we’re sad, buying something new may cheer us up. For others, it’s the instant gratification of getting something new versus the actual product itself. Age can also be a factor. Younger shoppers are more likely to impulse buy than older adults who may have more experience regulating self-control. External factors, such as marketing, sales and store ambiance can also impact impulse shopping.²

So, what can we do to avoid overspending on impulse buys? Let’s explore how you can resist it.

10 Ways to Avoid Impulse Buying

1. Make a list
   Whether you’re shopping online or in person, always make a list (either on paper or in an app) of the things you need so you can stay within budget and avoid making an impulse purchase.

2. Research your purchases
   A smart shopper researches their purchases ahead of time to get the best deals and avoid impulse buying. If the item isn’t urgent, see if you can wait for it to go on sale. Also, be sure to compare the same item at different retailers and see if any offer coupons. You can even check out comparison shopping engines like shopsavvy, which allows you to easily compare prices from several retailers at once.

3. Know your habits
   If you know certain stores or certain aisles are too tempting, avoid them if you can. Rather than going shopping in person, many retailers now offer online shopping with curbside pickup, so you won’t be as tempted by anything that’s not on your list.

4. Ask yourself questions
   Sometimes you forget to put items on your list. And that’s ok. If you see something that you think you need, pause, and ask yourself the following questions:

   • Do I really need this item?
     If it wasn’t on your list in the first place, ask yourself if you really need it.
     
     
   • How will I use it?
     If the item doesn’t have a specific purpose, then it probably isn’t necessary.
     
     
   • Do I only want it because it’s cheap?
     Little purchases can add up. Just because something is cheap or on sale, doesn’t mean you really need it.
     
     
   • Can I buy it later?
     If you don’t need the item immediately, consider waiting. This will also give you more time to decide if you really need it.

5. Live within your means
   Your monthly expenses should be less than your monthly income each month after taxes. Not impulse buying means sticking to a budget, which will help you live within your means and keep you out of debt.

6. Grab a friend
   If you are really struggling with impulse buying, tell a friend and ask them to go shopping with you. Having someone alongside you that’s aware of your goals can help.

7. Leave the tags on
   If you went shopping for one item and came back with several, leave the tags on for at least a week. Only remove the tags after asking yourself if you really need them. Otherwise, return the items and get your hard-earned money back.

8. Unsubscribe
   Most online retail websites are designed to encourage impulse buying.³ Reduce the number of times you visit online retailers by unsubscribing from their email lists. This will prevent seeing emails on sales and clicking through to their websites, where retailers are encouraging impulse shopping through a variety of different marketing tactics.

9. Spend wisely with the 50-30-20 rule
   Optimize your budget by spending 50% of your income on needs, 30% on wants and 20% on savings or debts. Knowing you only have 30% of income to spend on wants will make you pause and think about what you want before making an impulsive purchase.

10. Get Help
    If your impulse buying is out of control and has become an addiction, it’s known as Compulsive Buying Disorder, and it affects 18 million adults in the US.⁴ Thankfully, treatment is available – don’t be ashamed of getting help if you need it.

Stay strong and continue to avoid impulse buying

Impulse buying is something most of us have struggled with. But when you start carefully considering your purchases and implementing the tips listed above, you’ll be on track to staying within your budget, meeting your savings goals and living a healthy financial life.

1. https://www.invespcro.com/blog/impulse-buying/
2. https://www.newneuromarketing.com/what-psychology-knows-about-impulse-buying-in-2020
3. https://www.futurity.org/impulse-buying-2047282/
4. https://www.healthline.com/health/addiction/shopping