Stop that impulse purchase

The following post is courtesy of Australian blogger Tehn Yit from the Cheap-as-chips.

Impulse buying is one of the human behaviors that I really hate. Why? Because I typically end up buying an item that I neither need nor is it suitable for the task.

It is human nature that when we see something desirable, we will want to buy it, own it or get access to it; but at the end of the day, we probably could do without it. The money could be better spent elsewhere.

So I was thinking on what I can do to avoid impulse buying and came up with a list of 5 items that help limit, or perhaps stop, impulse buying.

1. Make a shopping list and stick to it. Having a shopping list forces you to think about what you want before you are actually in the shops. If it is not on the list, you don’t buy it.
2. Only carry enough cash to purchase what you are going to buy. I have found that the items that I purchase on impulse are usually much more expensive that what I intend to purchase in the first place, so by having the correct amount, I am not able to purchase anything more.
3. Look at the items that are not at eye level. Have you noticed that popular items on the shopping shelf are at eye level. They have been strategically placed there so that the shopper will notice them before the other less popular, but more affordable brands.
4. Don’t carry a credit card. Impulse buying is also in effect when you are not shopping. Say you are walking the street and noticed something that you really want but don’t have enough cash. Most will just charge it to credit card. If you don’t have a credit card, you can’t charge it and therefore no impulse purchase.
5. Watch and listen to advertisement free TV or radio. Shoppers are conditioned to purchase certain brand of items and the conditioning is performed via adverts on the TV, radio and print media. By not exposing yourself these kinds of media, you avoid being conditioned. Some of my friends call this brainwashing.

I have found these 5 items work with varying degree of success; it is highly dependent upon the environment you are in at the moment. Human nature is extremely difficult to control, it is who we are and what we do. All we can hope for is to minimise the amount of impulse buying.

Tehn Yit blogs on Cheap-as-chips. It’s a peek into the average family man’s thoughts on saving money and getting ahead financially.

Photo by olivier hodac