As fun and relaxing as Hollywood makes retail therapy seem, the reality isn’t all that glamorous.
Impulsive buying is often emotional and is usually caused by some form of distress. These can be self-esteem issues, anxiety, sadness, or even boredom. Impulse buying gives us a little dopamine spike, which is rewarding and motivating.
It is advisable to ask yourself before making a spontaneous purchase to see if you are not suppressing negative emotions.
Retail therapy can make you feel better in the moment, but that feeling can quickly fade when you realize you’re over budget.
We tell ourselves that we deserve to buy something or that we have earned it, but make sure it is not an act of self-harm disguised as self-care.
It’s not really self-care if it piles up credit card debt or position themselves financial stress spending a lot.
In a survey of impulse purchases, 44% of people said they felt regret after impulse buying.
Here are ways to adjust your lifestyle and budget to avoid impulse spending and build healthier money habits.
1. Shopping delays
Give yourself 24 hours to think about an item you want to buy. Leave the items in your cart, and physically distance yourself from your phone or laptop.
I recommend making a mental checklist that you can follow to ask yourself if the item you want to buy is something you really need, or if buying it will do you more harm than good.
If you still want it after 24 hours, you also have time to see how it fits into your budget. This will help you get rid of some of the motivation.
2. Be clear about your budget and savings
Set a clear budget and review it monthly. Create a budget The things you respect will help you hold yourself accountable when you feel like shopping.
Set up direct deposits so that a portion of your paycheck goes directly into your savings account. So the money is not there for you to spend. This will allow you to invest your money To secure your financial future, such as building retirement savings.
You can also create a sinking fund that you can fund each month to offset some of your impulse buying costs.
You will have some money set aside when the items you want to buy come in. This gives you some leeway for impulse buying without completely destroying your budget.
3. Make shopping more difficult
We have the possibility to shop 24 hours a day, 7 days a week and from the comfort of our home. This makes impulsive spending habits more difficult to control.
Place obstacles or checkpoints to be more careful when shopping. Remove shopping apps from your phone and you will have to go to the store website.
I suggest you delete your credit card information that is automatically stored on your favorite shopping sites. By following these steps, you will have more time to think about what you are buying.
4. Health expenditure plan
A healthy budget is like a healthy diet: You have to give yourself some wiggle room, or you’ll end up crashing one day and eating (or, in this case, buying) whatever you see.
You can’t be expected to be so hardcore and not buy anything for fun. Build some flexibility into your budget to splurge on now and then.
If you are too restrictive with yourself, you will eventually discourage yourself from doing so Stick to the budget And you risk falling back into unhealthy drinking habits.
Allowing yourself a “pleasure budget” will also help you feel the benefits of buying something exciting, without all the guilt.
5. Find support
Don’t try to defend yourself. Finding support and accountability can help you avoid impulsive spending. It is recommended to meet with a responsible partner once a month.
This could be a spouse, friend, or someone who is also working on their financial health. Hold monthly meetings where you can honestly discuss your progress and get feedback and support.
financial consultant It can help you achieve a healthy financial lifestyle and manage your impulse buying. It’s like going to the dentist or doctor. It is about taking care of our financial health, and we have to be honest and responsible, otherwise we might get into trouble.
6. Do something else
If you feel anxious, stressed, or sad and find yourself shopping, stop and do something else. Take a walk, listen to music, or call a friend. Taking care of yourself in a way that doesn’t involve money will keep you from making impulse purchases to please yourself.
Before buying, get in touch with your body and notice how it feels. If your instinct tells you that you probably shouldn’t buy something, listen to it.
Most importantly, be compassionate and know your worth. We are not our bank account, nor are we our debt. It is our way of being, not who we are.
While there is a lot of shame in overcoming impulse buying and building a healthy relationship with money, it is something many people deal with.
With the right support system, information, and resources, you can create a lifestyle that helps you save for the things that matter, while letting you have fun.