Spontaneous purchases are all too easy to add to your basket when shopping, especially as everything is now available at the click of a button. Acting on impulse is very easy as an avid shopper, especially when it comes to making emotional purchases that you wouldn’t usually consider. It’s no secret that the cost of living is rising, and more and more shoppers are trying to adopt a more mindful way of spending their hard earned money, but how can you make a change?
What Are Impulse Purchases?
When you partake in the act of impulse buying, you are usually being led by emotions, rather than spending money for practical or rational reasons. This could be because you’ve had a bad day at work, a stressful morning at home or you’ve simply been lured in by a clever marketing email on your phone. Buying something new can give you an instant rush of endorphins, but be warned, it’s only temporary. There is nothing wrong with buying something you truly want every now and again, but it’s important to think carefully before acting on impulse as it can have a severe effect on your bank account in the long run.
Conscious Shopping Tips
If you want to become a more conscious spender it’s important to think carefully about each purchase you make, rather than rushing into quick decisions and parting with your money. With this in mind, here are five shopping strategies to help you become a smarter and savvier shopper!
- Postpone Bigger Purchases
You’ve just seen an advert for a beautiful corner sofa, and it would make your living room look absolutely beautiful, but do you really need a new sofa? This is obviously a very big purchase, which may take its toll on your monthly budget. When it comes to making bigger purchases such as furniture, cars, holidays and high ticket handbags, it’s best to sit on the idea for a while before you take the leap. Set a reminder in your calendar for four weeks time, and reassess your requirement for this purchase again when some time has passed.
- Remove Payment Methods from Your Mobile Phone
Having saved card information available on your mobile phone is extremely useful, but it’s a savvy shoppers worst enemy. No matter whether you’re out and about in a shopping mall, or lying in bed scrolling on your phone, it’s way too easy to make a quick purchase without even thinking about it. Remove saved cards from your phone and try to use cash whenever you can; this will help you stay on track with your budget and prevent mindless spending missions.
- Avoid Online Shopping Outside of Daylight Hours
Everyone has had a moment where they can’t get to sleep at night, or they wake up before the sunrises. What else is there to do before the rest of the world wakes up, other than shop? If you set yourself a rule that you can only make purchases during the daylight hours, your spending habits will improve greatly. During the evenings and early mornings, you aren’t fully conscious of the impacts of your spending, and it can feel as though it almost “doesn’t count.” However, every purchase does count and needs to be carefully thought out when you’re fully in the right headspace.
- Write Lists and Set a Clear Monthly Budget
When you head out grocery shopping or shopping for any other reason, make sure you write a list. If you are intentionally going out of the house to buy a certain thing, write it on a piece of paper or in your phone, and only buy what’s on your list. It may be tempting to get lured in by deals and discounts, but try to resist these enticing products if you can. You should also set a clear monthly budget for yourself and keep track of your spending. This will help you to understand the impact of every purchase so you know exactly how much money you have to spend each month.
- Attempt a No-Spend Challenge
Can you go an entire day, or even a week without spending a single cent? No-spend challenges are becoming more and more popular, because it helps people to realize exactly how much they spend on a daily basis. Choose a week or a specific day to undertake your challenge and see if you can stick to your no-spend rule for a set amount of time.
Savvy Shopping Key Takeaways
As you can see, it is possible to curve your impulse buying habits and create a healthier relationship with shopping. Consider all of the tips mentioned above, and you will soon feel more confident when it comes to spending your money and making mindful purchases.
