How to stop making impulsive purchases once and forever
You can block credit cards and avoid your favorite stores, but it’s still wrong to spend money. Such advice does not combat the real cause of impulsive purchases. It’s all about willpower.
Recentmagazine.com will tell you how to control yourself from spending money while shopping.
Financial planners advise you to create a distance between the incentive (the incentive to buy an object you do not need) and the response (the decision to purchase). It is necessary not only to avoid this motive or to deal with its consequences but to overcome it on the root.
Set the purchase aside for a while
The best way to test and at the same time strengthen your willpower is to force yourself to wait. To do this, use the rule 20 USD. When you want to buy a thing that costs 20 USD or more, defer the purchase for at least a week. So you will have time to think whether you really need this thing or not. The amount can be absolutely anything, it all depends on your income.
If you are thinking about how to control yourself from spending money while shopping give you time to make a conscious decision that does not go beyond your budget.
Of course, impulsive purchases are not always expensive. Remember how much nonsense you bought while standing in line at the cash register or browsing the goods online. For such small purchases, use rule 100/10.
If you are in doubt about buying a thing that costs 20 USD or less, do not spend more than 10 minutes thinking. If the product is more expensive than 20 USD rubles and after 10 minutes you still have not decided whether you need it or not, safely put it back on the shelf. Naturally, in this case, you can also choose the amount at your discretion.
Think about your goals
When you try to save up for something certain, to resist impulsive purchases is much easier, because then it is immediately noticeable that reckless spending hampers you on the way to your goal.
This phenomenon in the economy we call alternative costs. It is a lost profit as a result of choosing one of the alternative uses of resources and abandoning other opportunities. By refusing to buy, we seem to be making a sacrifice. A sacrifice with comfort no one likes.
When we save for something, this economy turns into an alternative opportunity to spend money.
Therefore, it is much easier to control your expenses, when you know exactly what kind of benefit the saved money will bring to you.
Plan your budget realistically
Do not completely protect yourself from spending. Do not forget that money is a tool. Money created for spending. And there’s nothing wrong with that sometimes indulge in some kind of purchase. You just need to realistically plan, such kind of spending.
Set aside a certain amount of shopping for pleasure. Just do not overdo it. It should be enough for a small waste when you want to pamper yourself. Being limited to this amount, you cannot spend too much.
Try to spend only on what you love, not what you like.
Another answer to your question how to control yourself from spending money is to divide your spending into two categories: what you like, and what you love. For example, you like spending money on clothes, but you love to spend it on traveling. Refuse to spend from the first category. This will help reduce the number of impulsive purchases.
You have more willpower than you used to think, you just need to strengthen it. And this is especially difficult when it comes to financing. To apply these tips in life, you have to work hard, but eventually, they will pay off – in the literal sense of the word.