Don’t buy that! How to stop impulse spending - FOX 26 News | MyFoxHouston

Don’t buy that! How to stop impulse spending

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We've all done it: walked into a store with a short shopping list and left with an armful of bags.    Impulse spending can wreak havoc on the best planned budget. A 2012 Shopper Engagement Study found that 57% of the respondents often spent more than planned. We're sharing tips on how to keep more of your money in your pocket and spend less on impulse purchases. 

 

Tip #1 – Tally what's wasted on impulse spending

  • Examine receipts from the past 2 - 3 weeks
  • Add up purchases that weren't planned.
  • How else could you have used money? 

 

Tip #2 – Know what tricks the stores use

  • Weekly specials in front
  • Colorful banners
  • Phrases: "New low price" or "Lowest price around"
  • Be oblivious to store tricks, only get what you came in to buy

Tip #3 – Have your own spending tricks 

  • Shop with a list and a dollar limit
  • DO NOT deviate from the list nor the dollar limit
  • Ask yourself: need or a want? 
  • Compare prices and brands

 

Tip #4 – Avoid temptation

  • Stay away from your ‘weak spots'
  • Leave credit cards at home
  • Carry only the amount of money you will need each day
  • Get off the mailing lists
  • Don't make shopping an activity
  • Focus on your goals
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