We have all at one point indulged in impulse buying regardless of how calculated we usually are. Once or twice in a while isn’t too harmful but if it is a usual thing, it can get out of hand so you need get a grip on it.
That very day you just finished apportioning your money to all the necessary things for that month, and from your calculations, you’ve decided there’s just this much for clothes. Then this lady walks into your office space advertising very nice wears and everything in her bag is calling to you. Suddenly all your resolve melts away and you reach to pick that nice albeit expensive gown. Or you go shopping with a mental list of all the things you need, but once you enter the mall, your ‘sense’ takes its leave and impulse takes over. Once you get home, reality washes over you like a bucket of cold water once you find out you didn’t buy any of the things you planned to. No worries, nothing to be ashamed of, it happens to even the best of us.
As harmless as this may seem though, it could spell impending doom on your finances (especially if you aren’t rich, please if your father is Dangote you can waka pass this post).
Once you can’t help but buy something pretty whenever you get the chance, other important aspects of your finances will begin to suffer. Impulse shopping is like getting high, it wears off eventually and the “had I known” sets in. Stores prey on our impulses with deals like 50% discount, buy one get one free… Online shopping has made it even easier to buy on impulse, as your bill can automatically be charged to your credit card. So how do you keep your impulses in check???
Don’t shop online frequently
If you know you can control your buying impulses, limit your online shopping transactions (don’t shop online unless it’s very important). Stick with the traditional method of buying(pay with cash at hand).
Refrain from going out with your friends to but stuff at the mall especially if those friends are just as impulsive as you. There is a tendency for your group outing to increase your buying impulses. Once a friend picks up that Chanel bag from the rack, the rest of the group might just follow suit.
Window Shop Without Cash At Hand
Who are you deceiving? You are an impulsive buyer who wants to go window shop and you’re carrying a sizeable amount of money in your purse. By the time you’re back, you’ll have a heap of clothes on one hand and lots of regrets in your heart.
Understand the difference between a want and a need
A lot of times, what we call our needs are wants that we have justified. When you want to buy something, ask your self these questions, “Do I really need this”, “Can I live without it for now”. Your answers would help you determine what place the item should have on your scale of preference.
Give Yourself Some Time
Once you feel the impulse to buy something, don’t buy it immediately, give yourself what personal shoppers call “a cooling off period” to calm down, ponder and wonder on it.Often times than not, your craze for that outfit, shoe or bag would have reduced after you give yourself some time to think about it.