For some people, shopping can be a great way of relieving stress and spending money can often boost a person’s mood significantly. We all know that money is a source of power, and being able to spend it can make a person feel empowered.
Impulse buying is fuelled by the uncontrollable urge to spend money, usually on unnecessary items. It can easily develop into a compulsive behaviour where it's the act of spending money that becomes the reward regardless of whether the person can really afford the purchases. The actual goods themselves are not as important as the buzz the person gets from buying them.
Unfortunately these Impulse purchase highs are often followed by feelings of regret, guilt and shame, which the shoppers try to justify or forget. They may even hide the evidence of their "inappropriate behaviour.” Impulse buying can become a serious addiction, and can land a person in financial trouble.
Of course, most of us have bought an item on impulse before, and later came to regret it. However, when a person starts having urges to spend money they don’t have, such as using credit cards to make luxurious purchases and then acts on those urges regularly, they could be allowing themselves to fall under the spell of impulse buying.
There are times that good deals just cannot be passed by, and that’s alright because impulse buying isn't always bad, provided you have the money. However, thinking about your purchase can help you decide whether it is necessary and keep you from mindlessly spending money for a useless item. I've got into the habit of always questioning my purchase decisions – over the years it's saved me a lot of money!
When you're about to buy anything be honest and ask yourself why you are buying this particular item. Is the purchase going to be useful to you in some way and on a regular basis? For example, if you are considering buying a CD, how often are you going to play it? Once a day? Once a week? Once a month? Or just once? Are you buying the item because it makes you feel better? Is this serving as some sort of reward? If it's something you want rather than something you need, perhaps you should consider waiting to buy the item until you’ve had chance to think about it some more. If you really can use the product or have a genuine and undeniable need for it, then the purchase can be justified.
Also, be careful of what you put into your cart. If you have two similar items, compare them, and decide which one is a more worthwhile purchase. This can shave off extra spending. Making a list before you come to the store, and then committing to the list while shopping can serve as a wonderful deterrent to impulsive buying. Believe it or not, many stores count on impulsive spenders, and actually arrange their products accordingly. Enticing displays for new products, pairing two products such as fizzy drinks and crisps on the same aisle, and various other tactics are designed to lure spenders to buy more than they came for.
Not everyone manages money effectively, but curbing your impulsive buying tendencies can help a you avoid the pitfalls of overspending, and help to keep you from debts you can't afford.
Impulse buying is fuelled by the uncontrollable urge to spend money, usually on unnecessary items. It can easily develop into a compulsive behaviour where it's the act of spending money that becomes the reward regardless of whether the person can really afford the purchases. The actual goods themselves are not as important as the buzz the person gets from buying them.
Unfortunately these Impulse purchase highs are often followed by feelings of regret, guilt and shame, which the shoppers try to justify or forget. They may even hide the evidence of their "inappropriate behaviour.” Impulse buying can become a serious addiction, and can land a person in financial trouble.
Of course, most of us have bought an item on impulse before, and later came to regret it. However, when a person starts having urges to spend money they don’t have, such as using credit cards to make luxurious purchases and then acts on those urges regularly, they could be allowing themselves to fall under the spell of impulse buying.
There are times that good deals just cannot be passed by, and that’s alright because impulse buying isn't always bad, provided you have the money. However, thinking about your purchase can help you decide whether it is necessary and keep you from mindlessly spending money for a useless item. I've got into the habit of always questioning my purchase decisions – over the years it's saved me a lot of money!
When you're about to buy anything be honest and ask yourself why you are buying this particular item. Is the purchase going to be useful to you in some way and on a regular basis? For example, if you are considering buying a CD, how often are you going to play it? Once a day? Once a week? Once a month? Or just once? Are you buying the item because it makes you feel better? Is this serving as some sort of reward? If it's something you want rather than something you need, perhaps you should consider waiting to buy the item until you’ve had chance to think about it some more. If you really can use the product or have a genuine and undeniable need for it, then the purchase can be justified.
Also, be careful of what you put into your cart. If you have two similar items, compare them, and decide which one is a more worthwhile purchase. This can shave off extra spending. Making a list before you come to the store, and then committing to the list while shopping can serve as a wonderful deterrent to impulsive buying. Believe it or not, many stores count on impulsive spenders, and actually arrange their products accordingly. Enticing displays for new products, pairing two products such as fizzy drinks and crisps on the same aisle, and various other tactics are designed to lure spenders to buy more than they came for.
Not everyone manages money effectively, but curbing your impulsive buying tendencies can help a you avoid the pitfalls of overspending, and help to keep you from debts you can't afford.
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