Everyone’s done it—you walk into a store for one thing and walk out with a basket filled with products you never intended to purchase. Impulse spending is one of the largest challenges to building savings, and it can sabotage your financial plans if you’re not mindful. The good news is that overcoming spontaneous purchases is possible, and with a little discipline and a few helpful tricks, you can start saving more money and making wiser spending decisions. The key is to identify the triggers behind your spending and shift those behaviors with positive, money-saving behaviours.
The first step to stopping spontaneous purchases is to set up a spending plan and follow it. Knowing exactly how much money you have allocated for extras each month can help you resist the urge to purchase items impulsively. When you see something you are tempted to purchase, give yourself a cooling-off period—give it a day before pulling the trigger. This gives you time to evaluate whether you actually need the product or if it’s just an urge. Usually, you’ll find that the desire to buy fades, and you’ll avoid spending money needlessly.
Another useful idea is to minimise your access to triggers. If online shopping is your weakness, opt out of marketing emails and take out saved payment options from your favourite e-commerce platforms. If you tend to make impulse purchases in person, leave your credit cards at home and pay in cash. By adding obstacles to financial advice purchases, you’ll have more time to evaluate your choices and avoid getting caught in impulsive buying habits. Overcoming impulse spending may take time, but the benefits over time—increased financial security and lower money worries—are definitely rewarding.