Yesterday’s years of prosperity have given way to frugality and the need to save. With the financial difficulties many families find themselves in, it’s vital to curb impulse buying in order to survive and prosper. While many are resorting to creating a budget and clipping coupons to save more, the urge to buy a product is too strong for many to ignore easily.
It’s a fact that color, packaging, the arrangement of products on store shelves and prices are all meant to tempt you to buy more of what you don’t need. But buying on impulse can ruin the best budget especially in these times of economic peril.
Curbing the impulse to buy may be difficult, but it can be avoided by following a few simple rules.
Buy According to a Budget
Those who have no shopping lists are more likely to buy whatever catches their interest. A shopping lists helps enforce the discipline necessary to keep you focused on only those items you need. If the product you desire to buy isn’t on your list, then it’s a luxury you can ignore.
Buy According to Need
Ice cream and cookies can wait when you need to budget for the necessities. After you’ve purchased those needed items, you can then spend anything that’s left over from your frugal shopping.
Stay Focused
It`s hard to go through the aisles and pick up only those items on your list and ignore the fancy packaging and advertised specials on the shelves. Staying focused will save you on the long run as each impulse purchase wastes a good deal of money you’ll likely need for emergencies in the future. Rather than reach for that extra product, consider that it’ll probably go on sale at a later date and that may save you money.
Count to Ten
No matter what item catches your eye, make it a habit to take a few deep breaths and count to 10. The pause can help you determine whether the product is really worth buying. In many cases you’ll discover that what`s on the shelf is nothing more than a sales gimmick to entice you to ruin your budget.
Trying to Keep Up Appearances
Just because the neighbors just purchased a Lexus doesn`t mean you should blow your savings getting an equally impressive car. We live in a materialistic world where advertising plays on your emotions and senses to make you buy. Today’s teenager is heavily influenced with the need to stay modern with their circle of friends. It drives them to stand for blocks waiting to get their hands on the latest electronic gadget even though what they already have works well. Like society in general, they don`t realize that they pay far more than the sticker price when they buy on credit.
Pay Cash or with Debit
Credit cards give you a false sense of buying power. Their disadvantage is that they fuel the impulse to buy. Paying in cash or debit curbs impulse buying since you only pay for things up to what you have in your bank account.
A Frugal Education
Learning how to use money to your advantage can help you avoid the impulse buying pitfall. Most people aren`t adept at handling money as well as they should. Taking a simple course on money management can go a long way to helping you keep more of your money.
Today`s poor economic climate has the advantage of forcing everyone to think about their spending habits. It should help you cultivate a frugal nature. The sooner you do, the more wealthier you`ll be.