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 largest challenges to building savings, and it can sabotage your budget if you’re not mindful. The good news is that getting over impulse buying is possible, and with a little discipline and a few simple strategies, you can start saving more money and making better money choices. The key is to identify the triggers behind your spending and swap those tendencies with positive, money-saving behaviours.
The first step to stopping spontaneous purchases is to create a budget and follow it. Knowing exactly how much money you have available for discretionary spending each month can help you fight the temptation to buy things on a whim. When you see something you feel like buying, wait before buying—give it a day before pulling the trigger. This gives you time to evaluate whether you truly want it or if it’s just an impulse. In most financial advice cases, you’ll find that the want to spend lessens, and you’ll avoid spending money needlessly.
Another useful idea is to limit your exposure to temptation. If internet shopping is your weakness, opt out of marketing emails and remove saved payment details from your favourite shopping websites. If you tend to buy without thinking in person, leave your credit cards at home and pay in cash. By creating barriers to spending, you’ll have more time to consider what you’re buying and avoid succumbing to spontaneous purchases. Breaking the habit may take time, but the benefits over time—more savings and reduced money anxiety—are definitely rewarding.