10 Easy Ways to Stop Impulse Shopping

Many people experience sadness, anger or other negative emotions or try to fill a void in their life by self-medicating through shopping. Shopping can become an addiction which results in impulse shopping. 

Impulse shoppers regularly shop sales purchasing items they don’t need because they enjoy the thrill of getting a bargain, getting the latest fad item or getting the item before someone else does. Some signs of impulse shopping include:

• Unplanned shopping that happens based on an emotional or external trigger (window shopping, sadness, anger, sales)
• Spending money you don’t have (uses credit cards, payday loans, cash advances)
• Purchasing unnecessary items that you don’t need or didn’t intend to buy
• Shopping that is excessive
• You shop despite knowing the consequences
• You go into debt or experience financial trouble because of your shopping
• You make shopping a priority in your life above everything else

But don’t worry, there is help. Here are 10 easy ways to stop impulse shopping and develop good spending habits to reduce your chances of going into debt.

Budget

Create a budget and track your spending daily or weekly using online banking or a smartphone app.

List

Create a list of what you want to buy and stick to it. Avoid giving in to flashy retailer advertisements and gimmicks.

Cash

Pay for items with cash. Leave credit card and debit cards at home until you develop better spending habits.

Wait

Set a waiting period for yourself - 24 hours, 3 days, 1 week or whatever works for you. Determine if you still want to purchase the item. Then determine if the item is a need or a want. Delay wants until you have the cash to pay for the item.

Reduce Temptations

Create a list of things that tempt you and reduce exposure to those temptations – window shopping, shopping trips, shopping channels, TV or internet advertisements, mailers or newspaper advertisements, shopping catalogs, newsletters, or retailer social media posts.

Time Limit

Set a time limit to reduce the amount of time you walk around in a store. Find the item you want to purchase and buy it, don’t waste time browsing – get in and get out!

Consequences

Determine the consequences of the purchase and how it will impact you – your current bills, your savings account, your financial goals, retirement, family obligations, college savings, paying off debt or vacation.

Total Cost

Calculate how many hours you have to work to pay for the item and determine if it is worth it.

Alone

Go shopping alone. Peer pressure to shop can be hard to resist. Sales clerk will pressure you to purchase an item so stick to your shopping list. If tempted, leave the items on the counter and run out of the store until you can regroup. Think about why you are shopping – is it a need or want, is it filling a void. Then develop a positive way to deal with those feelings.

Support

Develop a support network. Inform your social circle that you are working to develop better shopping habits and need support and encouragement to stay on track. You can also join online or face-to-face impulse shopping or shopping addiction support groups in your area or consult a therapist.  

Are You A Victim of the Instant Grati Syndrome

As a baby when you cried your mother or father came running to take care of you. As a toddler when you cried your parents hugged or talked to you until you stopped. As a teenager when you wanted something you talked really nice and sweet to your parents to get it. Throughout your life you may have received gratification instantly so as an adult it is only natural for you to believe that you should continue to receive this treatment. Unfortunately, this attitude affects every aspect of your life even your spending habits.

It can be difficult to resist the temptation of the instant gratification culture of America which I call the "instant grati factor". Advertisers make it easy for consumers to get everything instantly by creating instant cereal, instant coffee, instant meals, instant messaging, instant credit card approval, online shopping, and credit and debit card purchases at most stores and businesses. I have labeled this behavior as the "instant gratification syndrome" or "instant grati syndrome". To determine if you are a victim of "instant grati syndrome" ask yourself the following questions:

1. Do you buy a new outfit every time you go to an event or gathering?
2. Do you go shopping with money already set aside to pay a bill?
3. If you see an item online or in the store do you buy it immediately?
4. Do you buy an item even if you don't need the item or the item is not in your size?
5. Do you buy an item with your credit card even though you know you don't have the money to pay the bill when it arrives?
6. Do you get upset or defensive when someone questions your poor spending habits?
7. Do you rationalize your poor spending habits by saying things like "I work hard I deserve it", "Why can't I have it", "You are not my father, I can buy whatever I want", "I just had to have it", "I don't have to answer to you", "I want it now", or "I can buy it with my credit card"?
8. Is your home filled with unused items you purchased or items that still have the tags on them?
9. Do you hide items you have purchased from your spouse, children or significant other?

If you answered yes to any of these questions you are a victim of the "instant grati syndrome". Here are 6 ways to avoid the "Instant Grati Syndrome:"

1. Make being debt free your ultimate goal
2. Stop listening to the instant gratification messages from family, friends and advertisements
3. Live your life like an investor
4. Surround yourself with people who are investors or people who are in a better financial situation
5. Enjoy the little things in life
6. Stop being depressed
7. Live like the rich who live like the poor

Embrace the values of your grandparents or great-granparents by working hard and saving your money to buy something. So the next time you buy something with a credit card ask yourself, am I a victim of the "instant grati" syndrome?