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Ten Tips to Stop Impulse Purchases

Let’s talk about spontaneous purchases. Those “gotta have it now” decisions that drain checking accounts and inevitably lead to buyer’s remorse. Candy, candles, coffee, clothes…we all do it. We tell ourselves it’s no big deal. What’s a candy bar here or there? But the money adds up. In fact, Canadians impulsively spend an average of $3,720 a year.

Impulse purchases can run wild at any point in the year. Save yourself from…yourself. Follow these 10 simple tips to stop impulse buys and save money.

Stick to a Budget

Of course. You knew that would be the first tip, right? In order to save money, you have to make a budget. And stick to it. Make your line items. Assign money to each category. Then, when that “gotta have it” happens, skip the purchase unless it’s in the budget.

Budget Some Fun Money

Sometimes, you really “gotta have it.” That’s where fun money comes in. Add a line item to your budget for a little freedom and fun. Maybe it’s $20 a month. Maybe it’s $200. Just be sure you can truly afford it. Then, when that Mango and Rain Water candle catches your eye, you can buy it.

Wait 24 Hours Before You Buy

Add to cart. Add to cart. Add to cart. Nothing’s easier than adding items to your cart. And nothing drains checking accounts faster. Once you’ve put items in your shopping cart, put down your phone or physically walk away from your computer. Give yourself a full 24 hours to fully process the purchase. Ask yourself if you can pay cash for it. That’s a sure-fire way to be positive you need something before you pull the trigger.

Avoid Emotional Shopping

Need some shopping therapy to cheer you up after a bad day? Having a great day and want to celebrate? Shopping with your emotions can lead to some serious impulse buys. Don’t do it. Try and come up with an alternative activity instead.

Delete Shopping Apps from Your Phone

What do Amazon, Shopbop, Etsy, and eBay apps all have in common? They’re gateways to impulse shopping. Delete. From. Phone.

Bring Cash. Pay in Cash.

Leave your debit card and credit cards at home. You’ll think a whole lot harder about the money you spend when you’re counting out the cash in your hand.

Out with the Old Before In with the New

Eyeing a new pair of shoes? Before you buy, go through your closet and find an old pair of shoes to donate. Four reasons this is a great idea: you declutter, you help someone in need, you remind yourself how much you have, and you think through your purchase before buying.

Get Off Social Media

No matter where you scroll, you’re bombarded with opportunities to spend your money. One day sale! Hot new gadget! The beer lover’s dream! Stop scrolling. Get off the app. You can’t impulse buy what you don’t see.

Delete Autofill

That helpful feature that completes your address and credit card information also makes an impulse buy automatic. Get rid of that digital assistant. If you have to manually complete the purchase, you give your brain extra time to think it through.

Freeze Your Credit Card

Literally. If you can’t bring yourself to cut up your card, then submerge it in water and stick it in the fridge. Don’t store the number anywhere else. Then, when you’re dying to buy that mini waffle maker, you’ll have to defrost your credit card first. That might be just enough time to realize big waffles are better anyway.

Online Payday Loans

If you’re in a financial bind because you “just had to have it,” you’re not alone. The great news? 310- LOAN can help. We have online payday loans to help you get back on track, all with a hassle-free application. You can apply online and get the money you need the day you need it. Apply now.

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