How many times have you been to the shops and you have come back with an item, that you really don’t need? Impulse buying can create havoc with your budget and clutter your life with pretty, but unneeded items.
Sometimes we buy things because everybody else has it and we feel left out. Or we have been bombarded by algorithmic marketing on social media. Or we see that unbelievable deal at that incredibly low price. Or sometimes we are feeling down and we splurge on an indulgent present to ourselves.
Here are 7 tips to avoid impulse buying:
- Make a budget and stick to it. If you need help to budget, MyWealth Investments can assist.
- Give yourself permission to spend a specific amount on yourself. And not a cent more.
- Wait for a day before you make a purchase. Especially if it’s an online purchase. Or that limited-time offer.
- Have a monthly shopping plan linked to your budget.
- Don’t shop when you’re emotional. You might stampede yourself into that unnecessary purchase.
- Get off social media. It’s all too easy to shop online.
- Keep your savings goals in mind. Every extra item you buy pushes your goal further away from you. An impulse buy won’t help you achieve your financial goals—whether that’s getting out of debt, paying off your house bond, or investing for your future.
If you want to take control of your money for good, get in touch with the folk at MyWealth Investments and join their exclusive group of savers who are on their way to financial independence.