How do I stop impulse buying?

To stop impulse buying, you can do things like give yourself a waiting period before making a purchase, remove your credit card information from online shopping sites, and make a shopping list before going to the store. You can also set savings goals and try a no-spend challenge to discourage wasting money on impulsive buys.  

Impulsive buying is when you make a purchase spontaneously without any prior planning, such as buying a pair of designer jeans you saw while scrolling on social media without first considering whether you can afford the expense. This could potentially cause you to overspend and accumulate debt.

How to Stop Impulse Buying

Give Yourself a Waiting Period

Wait at least 24 hours if you want to purchase something that you originally did not include in your budget. This waiting period gives you time to think about whether you really want this purchase and if you can afford it without going over your budget. If you still want the purchase after the 24 hours are up, you can work out a way to fit it into your budget.

Shop With a List

Whenever you go shopping for things like groceries, clothes, or presents, make a shopping list and stick to it. Having a list can help you stay focused on only buying the things you originally came to the store for and prevent you from adding unnecessary items into your cart.

Don’t Go Grocery Shopping Hungry

If you go to the grocery store hungry, you can end up paying an average of $26 more than if you went on a full stomach, according to a survey from Dole Food Company. After all, shopping while hungry can lead you to fill your cart with tempting treats that are not on your shopping list.

Understand Your Triggers

Do you tend to buy impulsively when you are feeling sad, bored, stressed or hungry? By noticing patterns in this type of spending, you can identify the reasons behind your impulsive buying and work out a plan to limit their negative effects.

Remove Your Credit Card Details From Shopping Sites

When you don’t save your credit card information on online shopping sites, you will have to go through the hassle of finding your credit card and manually entering your details before you can make a purchase. These extra steps may give you time to think about whether you really need to make this purchase.

Set a Savings Goal

A goal motivates you to save your money instead of spending it on unplanned purchases. Plus, achieving goals, especially long-term ones, can have positive effects on your mood that last longer than the short-term rush you get from an impulse buy.

Try a No-Spend Challenge

A no-spend challenge can force you to be more intentional with your spending and help you avoid impulse buys. With a no-spend challenge, you pledge to only spend money on the bare necessities (e.g. housing, groceries, and utilities) for a certain period, such as a month or a week.

Make a Budget

Making a budget allows you to plan out your spending, so you know exactly where your money is going. You can also set spending limits to reduce how much you spend on non-essential expenses. In addition, you can set aside a small amount of money each month for impulse buys, so you can limit their effects on your budget.

Pay in Cash

You feel more of a sense of loss when you pay in cash, and the true cost is more tangible than it is with digital money. Paying in cash also makes it clear when you don’t have enough money to make a purchase. With credit cards, it’s harder to see the total amount that you are spending unless you are constantly checking your balance online. 

Ask a Friend for Help

When you are thinking about making a purchase, you can ask a friend whose judgment you trust whether the purchase is a good idea. They can remind you about your budget and encourage you to wait to see if the purchase is something you really want. They can also help you identify any spending triggers that you may not have noticed about yourself.

For more information, check out WalletHub’s guide on impulse buying.