Everyone’s done it—you go to the shop for one thing and leave with a bag full of items you weren't expecting to get. Buying on impulse is one of the biggest barriers to building savings, and it can sabotage your budget if you’re not careful. The good news is that overcoming spontaneous purchases is possible, and with a little self-control and a few practical tips, you can start increasing your savings and making smarter financial decisions. The key is to identify the triggers behind your spending and swap those tendencies with healthier financial practices.
The first step to stopping spontaneous purchases is to make a financial plan and follow it. Knowing exactly how much money you have allocated for extras each month can help you resist the urge to buy things on a tips on saving money whim. When you see something you are tempted to purchase, take a break—wait 24 hours before deciding to buy. This gives you time to think about whether you actually need the product or if it’s just an unnecessary desire. Usually, you’ll find that the want to spend lessens, and you’ll save yourself from unnecessary spending.
Another great tip is to limit your exposure to temptation. If online shopping is your weakness, opt out of marketing emails and delete stored payment info from your favourite shopping websites. If you tend to spend impulsively in person, avoid bringing your credit cards and pay in cash. By adding obstacles to purchases, you’ll have more time to consider what you’re buying and avoid succumbing to spontaneous purchases. Changing your spending habits may take time, but the eventual payoffs—increased financial security and reduced money anxiety—are worth the discipline.