Week 6 – 5 Ways To Stop Impulse Buying Forever
Calculate the value in working hours
The next time you want to buy something, divide the price of the item by your hourly wage. The number represents how many hours you would have to work to pay for the item. This exercise gives not only a monetary value but also an expended energy value #Monergy.
Unsubscribe from online retail emails
If you’re on an online retailer’s email list then you’ll be no stranger to hearing about their newest sale and offer. This constant temptation to spend is difficult to ignore so it is advisable to unsubscribe.
Monitor your spending urges
We are creatures of habit so it’s useful to monitor spending urges to identify if there are any patterns. If you notice that you’re spending more money on the weekend or at night time then you can begin introducing interventions e.g. creating a weekend budget or turning off electronics before bed.
Plan your purchases
It’s useful to create a list before you go shopping. If you can make it a habit to only purchase what is on your list, you’ll prevent any impulse buys. Creating a list of things you need to buy, either to replace your existing belongings or to plan ahead for Christmas and birthday gifts, will keep you organised and eliminate overspending.
Take a deep breath
Before you click ‘Pay Now’ take a second to think about why you want to spend money. When you’re tempted to buy something, go for a walk, drink some water and take some deep breaths. Sometimes we spend money because we’re stressed, anxious or sometimes we’re just bored.
Click the link below to download your FREE printable ‘No-Spend Week Tracker’:
You’ve got this!
This post is a part of a #weeklywins series hosted by @Lottiebudgets and @CharlotteMusha (Follow us on Instagram)
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