We’ve all been there—you walk into a store for one thing and walk out with a bag full of items you weren't expecting to get. Buying on impulse is one of the major obstacles to saving money, and it can sabotage your budget if you’re not careful. The good news is that overcoming spontaneous purchases is possible, and with a little self-control and a few practical tips, you can start putting more aside and making better money choices. The key is to identify the triggers behind your spending and shift those behaviors with smart, savings-focused actions.
The first step to curbing impulse spending is to set up a spending plan and follow it. Knowing exactly how much money you have available for discretionary spending each month can help you avoid the impulse to purchase items impulsively. When you see something you want to buy, wait before buying—give it a day before pulling the trigger. This gives tips on saving money you time to think about whether you really need the item or if it’s just an unnecessary desire. More often than not, you’ll find that the want to spend lessens, and you’ll avoid spending money needlessly.
Another great tip is to reduce opportunities for temptation. If online shopping is your downfall, unsubscribe from promotional emails and take out saved payment options from your favourite shopping websites. If you tend to buy without thinking in person, avoid bringing your credit cards and shop with cash instead. By adding obstacles to purchases, you’ll have more time to think about your purchases and avoid succumbing to spontaneous purchases. Breaking the habit may take time, but the eventual payoffs—more savings and lower money worries—are well worth the effort.