Not so Fast: A Guide to Resisting Impulse Purchases

Have you ever made a purchase in the heat of the moment, and then regretted it afterwards?

Sometimes we have a treat that we are so tempted to buy, such as a beautiful pair of shoes, a flat screen TV, new golf clubs, or a laptop, that we have the urge to splurge our money right there and then! We justify our purchase to ourselves as we hastily pay our money, and it is not until a little while later when we realize that we could have probably lived without the item and we somewhat regret spending such a huge amount on it.

Many people find themselves tempted towards buying expensive items that they just don't need. They are known as impulse purchases, because we buy them with our impulsive wants in mind and don't always apply our logic. It's easy to give in to impulsive purchasing, especially because advertising and marketing are specifically designed to make us want to buy right away. However, you can reduce the amount of money you spend on impulse purchases by simply stopping before purchasing any expensive items and giving yourself some extra time to think.

Give Yourself Some Time

If you are tempted to buy a big-ticket item, stop right there! Don't whip out the credit card and buy it right away, or put it on finance. Simply note down all of the details of the product and walk away.
Give yourself at least a week or more depending on the size of the item to determine whether you really want to spend your money in this way. Giving yourself a bit of time to think about the purchase helps you decide whether you are really buying it because it is important, or simply buying it because you liked the look of it at the moment. You will find that after living without it for a week or two if you really need it you will still want it, but if it was only an urge at the moment you will not want it anymore.

The other advantage of walking away and giving yourself some time to think about the purchase is that you will be able to do some research and find out if you are getting the best deal. Shop around, do some research, and compare different stores. You might just find that you can get the item that you want, for a much better price!

By giving yourself some time before making any large purchase, you can save yourself from making impulse purchases that you will regret and also help yourself save money on the purchases that you do make!

Published by Pat Muncher

Munching savoury snacks whilst online. Wipes crumbs from the keyboard.  View profile