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Top 5 ways to stop impulse spending

The main tip I can give you is to never go shopping hungry, we all know this just ends in disaster every time!

Posted: 22nd January 2024 by Courtney Evans
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1

Be aware of your finances and set clear goals

It's easy to ignore and hide away from your finances but the more you know, the more you can control. Once you know your outgoings you can start to get on top of it, deciding what is essential and what you can cut out or cut down. You should know how much you’re spending a week on unnecessary things so you can stop repeating unhealthy habits.

Setting your goals gives you something to work for, write down why you want to save or why you need to stop shopping; maybe you have a big move coming or you just need to cut down on your costs to afford other more important things. Give yourself a weekly budget you can stick to but remember you can’t do that if you don’t have a clear idea of what your bank statement looks like, so take a peak.

2

Eliminate online shopping

We are all more likely to overspend when doing it online, they have made it so easy so that with a click of a button you’ve got multiple parcels on the way to your door. If online shopping is your weakness then it might be time to delete the temptation. Set a limit on your phone of when you can go on the apps or for how long so you know when you have spent too long scrolling for the perfect item. If you haven’t found it then stop looking as you’ll only end up buying something just to satisfy the shopping urge. If this isn’t enough, delete the apps off your phone completely. Make sure to unsubscribe to all those retailers' emails too, you no longer need to be reminded of a sale or of new stock hitting the shelves.

If you have your card details saved on certain websites, get rid of that option and remove your cards from your phone wallet. The best way to stop yourself will be to make it harder and less convenient. We shop online because it's so easy but if we need it then we can go out to get it.

3

Making a list – and sticking to it!

When you go grocery shopping it’s hard to avert our eyes from all those extra treats on the shelves. You can avoid this by making a planned list. Plan some meals you know you’ll want for the week so you don’t need to buy extras just in case. Even add on to your list some chocolate or biscuits if that’s what you normally add on while you’re in the shop. Then anything else you see whilst there you know you don’t need. Having a plan and a list that you can tick off can help you stay on track.

The main tip I can give you is to never go shopping hungry, we all know this just ends in disaster every time!

4

The 2-month wait theory

When you shop and find something you really want but don’t actually need add it to a list but don’t buy it yet. Leave it there and two months later go back to it and if you still want it and are in the position to do so then allow yourself the treat. This will show you what you do really want or if it was just an impulse buy. Things come in and out of our heads so quickly and the next week you may no longer like it so give yourself time to determine if you want it that much.

5

Set it as a challenge

If you have a competitive side it might be effective to see this as a challenge for yourself or maybe a friend needs to join in too. You can see who can go the longest without giving in to temptation. Having a no-spend month could set you up and show you how much you could save leading you to carry this on into the next month too.

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