5 Ways to Cut Impulse Buying

Are you an impulse buyer?

If you find it hard to resist unnecessary purchases when shopping, read Payplan’s 5 simple tips to help you beat the temptation.

1. Make a shopping list – Whenever you go shopping, think about what you really need and make a list. This way you’ll only buy the things you really need – and it will help you realise what isn’t a necessity.

2. Avoid browsing - It’s simple and obvious but worth mentioning because it’s really important. Browsing on the high street and in shopping centres means you are far more likely to see things that might tempt you to spend. Remember, many stores these days form huge groups of companies with massive marketing and advertising budgets – and they’re very experienced at getting you to part with your money when you least expect to.

3. Still tempted? Ask yourself, ‘Do I really need this?’ – Imagine what else the money would buy in the context of your weekly grocery bill or the cost of your gas and electricity – this can be a great reality check!

4. Card impulse purchases - Using any form of plastic card, online or offline, can often remove the reality of the amount you are spending at any one time. Using cash where it’s safe and convenient to do so can make a big difference to the psychology of spending – cash is a physical ‘thing’ and the simple act of handing it over can bring home the real cost of your purchases.

5. Make a ‘wish-list’ - If you really want to buy something that’s not a necessity, write it down on a ‘wish-list’ along with the date you saw it and how much it costs – and then do nothing. You will often find that when you next read your ‘wish-list’, you may decide you don’t really need the item at all because the impulse has gone.