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Budget -

The first and perhaps most obvious way to reduce impulse buying is to budget. Without a monthly budget, it is much easier to tack on extra purchases.

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Budget -

There are many different personal budget templates available online, although it is important to tailor the budget to fit your personal financial situation. You may also like to use an app that allows you to track your progress.

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Pay with cash -

Some people find that using the cash-only method helps them stick to a budget and spend less overall than when they use credit or debit cards.

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Pay with cash -

The idea is that by using cash you watch yourself parting with money, and this makes you more likely to think twice about whether you need to make the purchase.

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Pay with cash -

It is worth noting, however, that it can be more difficult to track your spending when you use only cash, and it can be tricky if you live in a place where lots of establishments are cashless.

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Stop and think -

It might sound obvious, but taking a minute to stop and think about the pros and cons before making a purchase is a great way to reduce impulse buying.

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Stop and think -

Indeed, impulse buying happens when we fail to think a purchase through, so it makes sense to stop before we reach the checkout and consider whether each item is necessary.

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Stop and think - Ask yourself questions like, "Do I really need this?" and "Is there something else that I should be saving for or spending this money on?"

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Beware of your mood - It is also important to shop only when you are in the right state of mind. After all, impulse buying is usually the result of an emotional or rash decision.

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Beware of your mood - Try not to shop when you are stressed or sad, for example, as this might cause you to compensate for your low mood by showering yourself with unnecessary gifts.

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Beware of your mood - Instead, try and shop when you are clearheaded and more likely to make sensible decisions. Before work could be a good time, or after the gym.

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Avoid temptation - Another way to reduce the urge to impulse buy is simply to avoid temptation. It is much trickier to break bad habits if we are constantly exposing ourselves to them.

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Avoid temptation -

For example, next time you are bored, try and restrain yourself from heading to your favorite local clothes store, or browsing the latest fashions online.

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Avoid temptation -

Instead, take yourself out for a walk or do something else to occupy your mind. Even going to a shop where you are not tempted to buy anything is better.

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Postpone your purchase -

If you are about to buy something and you are not sure whether it is an impulse purchase, you could hold off buying it until a later date.

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Postpone your purchase -

Put the item back on the shelf or ‘save it for later.’ If you find you’re still thinking about it a few days later, you can always go back and get it.

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Postpone your purchase -

You can experiment with the waiting period you set for any unplanned purchase. Some people find they only need one day, for other people it’s more like 30.

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Do a no-spend challenge -

You might like to try a no-spend challenge. This involves designating a certain period of time in which you only spend money on the essentials.

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Do a no-spend challenge -

In practice, you spend money on rent or mortgage payments, utilities, and groceries, but you don’t eat out at restaurants or buy yourself any fancy new shoes.

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Do a no-spend challenge -

Participating in a no-spend challenge can help you prioritize responsible spending, and any money you save can go towards paying off debts or building up your savings account.

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Remove card details -

A great practical tip for reducing impulse spending online is to remove your saved card information from the browser.

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Remove card details -

That way, when you want to purchase something online, you must go and get your physical card to pay, rather than just clicking a button.

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Remove card details -

It may only take a few seconds, but even those few seconds are enough time for you to consider whether the purchase is really necessary.

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Unsubscribe from marketing emails -

It is a good idea, too, to unsubscribe from marketing emails sent by your favorite retailers. After all, they just expose us to even more temptation.

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Unsubscribe from marketing emails -

Today, online retailers are able to track your spending and send targeted promotions that are very difficult for people to ignore.

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Unsubscribe from marketing emails -

Be sure to unsubscribe from SMS alerts and newsletters from your favorite stores. If you don’t know about that flash sale, you won’t be sad about missing out!

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If all else fails -

If none of the methods above are effective for you, it might be time to nominate a shopping partner, someone to go with you when you visit a store where you often overspend.

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If all else fails -

This person should be a good influence and should not be afraid to challenge you and hold you accountable for the purchases that you make.

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The bottom line -

The bottom line is that of course it is fine to treat ourselves from time to time. When impulse spending gets in the way of achieving your financial goals, however, it is time to act.

Sources: (Rocket Money)

See also: Saving money without sacrificing quality

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