Hi guys, I hope you had a fabulous weekend and that your week is going great. When I was grocery shopping during the weekend I realised how far I’ve come from doing any shopping in general. You see, before I would go into a store and pick something up because it either looks good or maybe I wanted to try it out without even giving it a thought whether or not I really needed it. I still have a juicer which resides in a cupboard because I thought I would be into juicing at the time. Nowadays, I’ve rectified that by knowing that impulse buying was the culprit and was costing me money. So onto the question is impulse buying costing you money?
The answer is YES
I know that sometimes you might really want something once you see it and I also know that unlike me, there some people who would like to have five sweaters of the same kind but in different colours. Don’t get me wrong but I just think that it’s a waste of money and would rather spend that money on something else. How can you fix that?
When I talk about staying organised, I mean know exactly what you have and don’t have around your home and if there is anything that you need to replace. Once your organisation is on point, you will less likely want to get something on the whim when you are out. So remember to get it together first by having an organisation plan. There’s no point of having three kettles just because they would look nice on your counter. To see how I get organised, find here.
2.HAVE A BUDGET
Impulse buying usually happens when you think or assume that you need something and not knowing it will cost you. To avoid that, have a monthly or weekly budget for everything, your groceries, home products, just everything. Once you have a budget in place, be tight with it and stick to it. When I started budgeting, I failed many times because I didn’t stick to it and ended up struggling when I really wanted something and it wasn’t good, you need to sacrifice all the temptations and just do it. A budget planner will really help if you’re just starting out.
3.CARRY CASH ONLY
This can be debatable depending on what you are shopping for but if you know exactly what it is, then leave your credit cards at home and just carry the amount of cash you need. I noticed that when I carried my card, I was more likely to buy impulsively compared to when I only had cash because with the cash, I had no leeway at all and if the amount passes my budget, then I had to return some stuff. This is the only way to avoid impulse buying which at the end of it all costs you money you would be saving.
Writing down lists is a really good way to make you stay in check and that’s why all the points above will rely on you having lists when you are out doing your shopping to hold you accountable when you decide to pick up something that’s not on the list, because that would be impulse buying. If it’s not on the list put it back and leave it for the next budget. I wrote more on this here when it comes to things you can do to start saving money.
This is hard even for me because when I see something, I convince myself that I might need it then once I buy it, I have to come back and create a different budget since I would have taken some from the next month’s budget. If you know you are likely to want to get something once you see it, then avoid those shops or even seeing what they have because it will only lead to more impulses and that will cost you.
6.ANALYSE & REPEAT
Lastly, after every end of month or week depending on how you created your budget, get time to go through your lists, budget and see what you have done right and where you need to improve on then repeat. Once you continue doing that, you will notice that the need to buy stuff impulsively will go away because you know how much you have saved from not doing it.
So that’s all I have for you today, keep at it and take care of your impulse buying with the above points and know it’s a process, so just starting will at least push you in the right direction. At the end of it all, you are the only person who knows whether or not impulse buying is a habit you have and are also the only one who can take care of it. If you have any other pointers for me please do share in the comments below, ask yourself are you an impulse buyer?