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10 Ways to Avoid Impulse Buying This Christmas

10 Ways to Avoid Impulse Buying This Christmas

It is easy to assume that when the sales are on you spend less because everything is at a discounted price. The reality is that if you don’t know how to manage your money you will spend more than if the items were not on sale. Here are 10 ways you can learn how to save money and to avoid impulse buying over Christmas.

1: How Many Hours do You Need to Work to Pay for The Item? This might sound like a strange thing to do, but if you get paid $20 per hour and you want to make a $100 purchase, that’s 5 hours of work, which is practically an entire day. Is it really worth it?

2: Leave Your Credit Cards at Home: Most people have more than one credit card. Carry the one with the lowest credit limit and leave the others at home.

3: Don’t Shop When You Are Upset: This is referred to as emotional buying. When you are upset or angry you will buy more to make yourself feel better.

4: Block Online Stores: Since most of us spend a lot of time on the computer, online shopping can be a big temptation. Block the sites you know you like to avoid impulse buying.

5: Don’t Shop in Groups: No matter how old you are, peer pressure still has an effect on us, we will spend because our friends are spending and buying the latest fashion or gadgets.

6: Don’t Shop after Drinking: While this may sound like a no brainer, people do it all the time and end up regretting it the next morning.

7: Save Your Spending Money: Every time you get the urge to buy something, put the money into a savings account instead. You will be shocked at how much you manage to save at the end of the year.

8: Save up For it: If you want to buy something expensive, save up for it instead of putting it on a credit card.

9: Audit Your Spending: Keep track of your spending and at the end of the year evaluate everything you have bought that you didn’t need. The idea here is to make sure you don’t make the same mistakes next year.

10: Make a Shopping List: Before you go shopping, write down everything you need and stick to it. If it’s not on the list don’t buy it.

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