How to Curb Impulse Buying

We've all done it, but most of us have no idea how often we do it. Impulse buying tends to drain more of our disposable income than we realize. By learning to curb this impulse, we can save money to buy the things that bring long term pleasure instead of momentary enjoyment. Here are some tips to help you get started.

Difficulty: Moderate

Instructions

1. Pay at the pump and don't go in the store. When you gas up the car, use your credit or debit card to purchase gasoline. Going into a convenience store is a danger zone when you are trying to minimize impulse buying. Staying outside by the pump means you will not take home candy bars, magazines or a bunch of other stuff that you don't really need.

2. Cancel those mail order catalogs. It is way too easy to spot something you like and place an order by phone without thinking twice until it is too late. You don't need the junk mail anyway; if you want to purchase something, there are plenty of online vendors you can use.

3. Get off direct mailing lists. Make it known that you do not want to receive free offers and other incentives in the mail. Not only will you save a tree or two, you also close one more door to spending money on the spur of the moment.

4. Make a list. When you must shop, it is important to be focused. Check the pantry and refrigerator before you go grocery shopping and make a list of everything you need for the next couple of weeks. Once in the store, buy only what is on your list and no more. That includes gum, candy bars, and pulp magazines at the register.

5. Impose a waiting period when you feel the urge to buy on the spur of the moment. Promise yourself that if you still think the item is necessary two to four days from now, you can come back and buy it then. You'll be surprised how often you decide that you don't need it after all.

Tips & Warnings

• Old habits die hard. Don't try to change your spending habits all at one time. Start off small, perhaps by avoiding purchasing anything but gasoline at your local convenience store, then work your way up to shopping with a list, etc. By mastering these strategies one at a time, changing your spending habits will be less painful and your chance of success will increase significantly.
• Don't become discouraged when you backslide. Even the most cost-conscious individual does from time to time. Pick yourself up, dust yourself off, and try again. It really will become easier over time.