Impulse Purchases- How to control them

[Lisa23]

I'm the worst of the worst when it comes to this. Here are some things I do to try to stay in control:
Be aware of what your weaknesses are- know when you’re most susceptible to blowing your hard earned money, and stay clear of the stores (including on-line ones!)
Wait- Make a rule that you have to wait a minimum of 48 hours before making any major purchases. We all know this, but I think it bears repeating.
Leave your credit card at home- you can always come back and get the item the next day.
Set dollar limits- then you can go a little wild, but not get in over your head.
Make wallet impulse buying cards- saying things like STOP! or YOU’LL REGRET IT! It might slow you down a little.
Save your receipt- if all else fails, you can usually return those great shoes or that cool purse you had to have in the moment.

If you want to read about some of the Psychology behind impulse shopping go The Psychology of Money: "I Have to have It"....


Anyone else out there have any ideas?

[Megan]

One thing I do is carry around a notebook. I write down the item and what it costs and then tell myself I will go home and check out prices online and see if I can find it cheaper. That usually gives me enough time to really think it over, and gets me over the impulse. Of course, sometimes I do still think it's something that I want to buy when I get home, but at least I've taken the time to think about it.

[Gootsy]

Yeah I do the same Megan. I don't just look for prices, but also reviews and such.

Sometimes if there's something I want, I'll go to a store that I know has high quality products, but is outrageously expensive. The people working there are more likely to be knowledgable about the products (I find), and I k,now it's such a bad price that I'll definitely be able to find what I want elsewhere for much better deal. Holpefully with same quality.

If I do succumb to the impulse buy, I leave the store knowing that I could come back and return it the next day if I change my mind.

[ThePennyMine]

I have to walk through a major mall every day to get to class, so I know what those impulses are like, for sure!

One thing I do is tell myself that I can buy the item the next day if I really want it, as I know I'll be going by again.

The other thing which helps a huge amount is letting myself make one small impulse purchase. It might be a few chocolates from Godiva, or Subway for dinner, but it gives me that satisfaction of having made that impulse purchase without actually breaking the bank. I only do this once a month at the most as well.

[USCGamecocks]

I like to put it in perspective of how long I would have had to work to purchase a particular item. After looking at a new Garmin and realizing that if i bought that new GPS for my car I would have had to work about three days dealing with all the crap that I do put up with at work for that Garmin. No thanks!

[happysmileylady]

Setting dollar limits...to expand on that, if you budget a specific amount for impulse buys each budget period (every week or month or whatever you budget on) and that not only sets the dollar limit, but it lets you feel like you have satisfied the need for instant gratification as well.

[engchik]

perfect ideas! i have been leaving my credit card at home. i also just cut up my other two, kept the pieces, b/c i hear closing down CC isn't always the best. now i have just one balance to pay down!

[engchik]

also, like Lisa23, i made little sticky notes for my CC and for my computer- STOP! YOU DON'T NEED THAT! or DON'T BUY IT!!

[Lisa23]

Thanks for the tips here...Yes, seems like if I have a little splurge,it keeps me from the big ones!

[Linsey Knerl]

Originally Posted by USCGamecocks

I like to put it in perspective of how long I would have had to work to purchase a particular item. After looking at a new Garmin and realizing that if i bought that new GPS for my car I would have had to work about three days dealing with all the crap that I do put up with at work for that Garmin. No thanks!

This is exactly what my husband and I do. We think in terms of "how many articles I have to write" or how many hours he has to work. It really puts things into perspective. We share our philosophy with our kids, too. When they ask for something, we explain how much extra we would have to work to be able to buy it. They think long and hard about how much they would like us to be away from home or in our office just to be able to pay for it. They usually are happy to do without so we can have more time together as a family!