Repulse the Impulse to Shop

shopping, tips

One of the ways we can ensure financial wellness is to eliminate wasteful purchases.

Many times, we buy the latest gadget or fashion trend, only to regret the purchase later. Here are some strategies to control the urge to splurge:

Beware of the word “SALE”. It can tempt you into thinking that you’re getting a good buy on something you actually don’t need.

Be mindful. When you see an item that seems to be calling out to you, ask yourself three questions first: “Why do I want this?”, “Do I have to buy it right now?”, and “Do I really need this?”. 

Think of your bigger expenses around the corner. Is it enrollment time a few months from now? Will what you spend on impulse be better used for a bigger expense down the road?

Use the 30-day rule. Here’s great advice from J.D. Roth, from his blog Get Rich Slowly: “When you feel the urge to splurge, stop. Put the item down. Go home. Write down the name of the thing you want, its price, and the store where you found it, and then post it someplace obvious. If you still want the item after a month, purchase it.”

Remember that if you can’t pay for it in cash, you can’t afford it! Being smart about shopping is a big step towards financial wellness. Take that step now!

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