Written by Hannah Dillenger, Karina Guy, Liz Heaney, Robin Hill and Brady McLamb
Have you ever seen something on TV, in a store or online and thought, “I need that!” and felt yourself reaching for your wallet? Have you ever felt upset or guilty after buying it? How often do you leave Target with more than you intended?
Impulse buying is when you feel a strong, uncontrollable urge to buy something, buy it and then feel guilty or remorseful afterwards. According to Alex Thomas Sadler of “Clark,” approximately 85 percent of all Americans say that they have impulsively bought something that they did not need. In fact, some Americans even consider themselves to have a shopping addiction.
“So, how can I avoid impulse buying?,” you might ask. Here are four tips that may be helpful to limit (or avoid!) impulse buying.
1. Make a list. According to The Minimalists Joshua Fields Milburn and Ryan Nicodemus, creating a shopping list and only buying items on the list is a great way to prevent impulse buying. For some, this may be a test of self-control, but staying focused on what is written and not getting distracted by other deals will save you money.
2. Limit online shopping. Websites make it too easy to shop, since it is only a click of a button before what you want is in your hands! Like with mall shopping, Leo Babauta of “Zen Habits” suggests that you get on and off a website as quickly as you can and only buy what you are there for. If worst comes to worst, you can always use programs such as StayFocused, FocalFilter or WasteNoTime to block websites on your computer.
3. Three-Day Rule. In an article by Jamie Rappaport for “Thought Catalog,” she explained how the Three-Day Rule saved her bank account. When she had the urge to buy something, she forced herself to wait three days before deciding if this item was a necessity. Most of the time, she decided that she did not need the item and wound up saving money. This is definitely a good tip to try!
4. Relax. If you are getting an itch to buy something, take a deep breath. According to Babauta, calming down to reflect on how important this item will be in the long run is an effective way to resist the urge to impulse buy. If you have to create a reason to justify why you need something, then you probably do not need it! April Dykman of Forbes suggests meditating, taking a walk or finding something to laugh at to calm down before you reconsider buying an item.
Minimizing what you buy helps you to create a simpler lifestyle. Saving money for future events like student loan payments, mortgages or emergencies is much more important than buying a cute succulent or a limited-edition calendar.
Let us know what works for you for resisting impulse buying using the hashtag #EtownSimplified on Twitter and explore other ways to simplify your life. Stay tuned next time for a column about reducing waste!
