Impulse Purchases: How to Overcome the Urge and Increase Your Savings

Impulse Purchases: How to Overcome the Urge and Increase Your Savings

Blog Article

We’ve all been there—you walk into a store for one thing and leave with a bag full of items you weren't expecting to get. Buying on impulse is one of the biggest barriers to building savings, and it can quickly derail your money goals if you’re not careful. The good news is that overcoming spontaneous purchases is possible, and with a little self-control and a few helpful tricks, you can start increasing your savings and making wiser spending decisions. The key is to understand the causes behind your spending and shift those behaviors with smart, savings-focused actions.

The first step to reducing impulsive buying is to create a budget and adhere to it. Knowing exactly how much money you have available for discretionary spending each month can help you fight the temptation to make unplanned buys. When you see something you want to buy, take a break—pause for 24 hours before making a purchase. This gives you time to think about whether you truly want it or if it’s just an impulse. In most cases, you’ll find that the urge to purchase disappears, and you’ll save yourself from unnecessary spending.

Another great tip is to reduce opportunities for temptation. If internet shopping is your downfall, unsubscribe from promotional emails and delete stored payment info from your favourite shopping websites. If you tend to buy without thinking in person, shop without credit cards and shop with cash instead. By adding obstacles to purchases, free online financial money advice you’ll have more time to consider what you’re buying and avoid falling into the impulse spending trap. Breaking the habit may take time, but the benefits over time—increased financial security and reduced money anxiety—are worth the discipline.