Most of us are guilty of making an impulse buy at least once in our lives. Whether it’s $100 or $1,000, these unnecessary purchases can really add up and hurt your chances of building your savings account. With a few easy tips from Dave Ramsey, you can stop yourself from placing an order the next time you see your favorite store is having a sale.
1. Wait overnight. If you see something you feel the immediate desire to buy, wait 24 hours before purchasing it. This will give you time to really decide if it’s something you’ll actually need. If you see a sale that is encouraging you to buy because it’ll be over in a day, beware! There will always be sales, so wait until the next sale to give yourself time to really think out the purchase.
2. Plan your shopping trip ahead of time. Decide what you are going to buy before you even leave the house. If you have a plan, you will not end up walking out with 10 bags of items you didn’t intend to buy. This is even more important to do if you are planning on bringing the kids. They will most likely beg you for everything that looks appealing to them, so keep this in mind while planning.
3. Take just enough cash. Decide before you shop what your budget for the day is and only bring that amount with you. You could even go without a credit card and just bring cash. Then you really won’t be able to over-spend!
4. Don’t shop when you’re emotional. Whether you’re feeling down or just the opposite, these feelings can cause you to over-spend when shopping. Don’t let your emotions decide what you’re going to spend money on. Only go shopping when you’re feeling like your normal self.
5. Bring someone shopping with you. Not someone who will encourage you to buy! Bring someone who will be able to talk some sense into you and stop you from making impulse buys.
The joy of impulse buys will not last. After having the item for a little while, guilt will set in and you’ll regret spending your hard-earned money on something you don’t need. Keep this in mind the next time you take a trip to the mall!