Don't be an Impulsive Buyer be a Smart Buyer!

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  1. Track spending Trends – Use websites like www.Mint.com to track your spending over a period of 1 month.  Set a budget aside for yourself every month and see how much you can restrain to that budget.  If you go over budget then analyze to see which department are you spending extra on – Shopping, Restaurants, Pharmacy etc.  This is an eye opening experience because you don’t realize how much unnecessary shopping you do as an impulsive buyer.  
  2. Make a list – Never go shopping without a list of things that you intend to buy. If you have a list you tend to focus on that list and don’t wonder around in the aisles buying things that look good or are on sale even when you don’t really need them.
  3. Couponing – Dealspl has already made it very easy for us to search for coupons so please take advantage of that and look for coupons for the list you have created in step 2 before going shopping.  These days, you can find a coupon for almost any product, from any retailer online. You should always check the retailer’s website for coupons as well.
  4. Know the difference between “Needs” and “Wants”- This is true when you go shopping for clothes and accessories. A Pair of shoes on sale doesn't mean you have to buy them. Ask yourself a question – Do I really need these?  If the answer is, No I have plenty of shoes but these are on sale and I want it……….that’s a clue for you to move on! Never give precedence to want over need.
  5. Try to go shopping alone – When going shopping with friends or family you tend to do more impulsive shopping and try to go off path with your shopping list. When too many people are looking at things at the store it’s hard to keep them focused and stay on budget.
  6. Eat before you go shopping – This is true when you are going grocery shopping. Make sure you have a good meal right before you go shopping. You tend to buy a lot of unnecessary things when you go empty stomach because your hungry stomach sends signal to your brain that everything looks yummy and delicious and needs to be bought.  When you go shopping right after a meal you tend to detest the look of food because you are so full.
  7. Sleep on it or follow the 1 week rule – When you go to a store and you think you really want something but are confused about it, don’t go ahead and do an impulsive purchase. Go home and sleep on it or even wait an entire week and ask yourself, if you missed having that item this past week. If the answer is No, you didn't miss having that item then you have your answer. You don’t really need that stuff. If in that 1 week you have needed that item a couple times and have used alternate methods to get the work done then go to the store and get it.
 Hope these above tips are useful. Be practical about what you purchase because every penny you save today goes towards a better living tomorrow. 
Florida2Texas posted Feb 25, 2012
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5 Comments
nimrodboy3
great post..i don't like to be an impulsive buyer..even when i know i want something..and plan on getting it..i'll go to the store first, usually..look at it..then go back home to make sure i won't have any buyer's remorse or anything..

i think with society today..this biggest issue is being able to differentiate between needs and wants..it doesn't seem like a difficult concept..but for many..they still have issues with that.
nimrodboy3 (rep: 68k) posted Feb 25, 2012
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Florida2Texas
Thanks nimroboy3! I try to follow most of the tips above but sometimes you fall out and go do impulsive shopping. But honestly after I wrote this post, i went shopping and avoided buying a lot of things because i kept thinking about what I just said myself on this post!
Florida2Texas (rep: 10.7k) posted Feb 25, 2012
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gangstabarbie
way to go Florida! i end up spending way over my budget when i shop with my friends or go grocery shopping with an empty stomach. very nicely put ;)
gangstabarbie (rep: 9.68k) posted Feb 25, 2012
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Florida2Texas
Thanks Barbie :)
Florida2Texas (rep: 10.7k) posted Feb 25, 2012
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nimrodboy3
my pleasure, Florida2Texas. yeah..it's hard..sometimes you just want to splurge..and i think that's okay..it's just making sure you know your limits that's hard for some =).
nimrodboy3 (rep: 68k) posted Feb 28, 2012
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