<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1594118447410323&amp;ev=PageView&amp;noscript=1">

Disclaimer

You are now leaving the Independent Bank website.

Linked web pages are not under the control of Independent Bank, its affiliates or subsidiaries. Be aware the privacy policy of the site to which you are going may differ from that of Independent Bank. Independent Bank provides external links as a convenience and is not responsible for the content, accessibility, or security of any linked web page.

Click “OK” to continue or “Cancel” to go back

Ok Cancel

Disclaimer

You are now leaving the Independent Bank website.

Linked web pages are not under the control of Independent Bank, its affiliates or subsidiaries. Be aware the privacy policy of the site to which you are going may differ from that of Independent Bank. Independent Bank provides external links as a convenience and is not responsible for the content, accessibility, or security of any linked web page.

Click “OK” to continue or “Cancel” to go back

Ok Cancel
x

Disclaimer

You are now leaving the Independent Bank website.

Linked web pages are not under the control of Independent Bank, its affiliates or subsidiaries. Be aware the privacy policy of the site to which you are going may differ from that of Independent Bank. Independent Bank provides external links as a convenience and is not responsible for the content, accessibility, or security of any linked web page.

Click “OK” to continue or “Cancel” to go back

x Want to chat? How can we help you? open chat
Menu
Search
Locations
Login

Impulse Shopping

By Independent Bank August 30 2018 Savings Tips

3 Simple ways to avoid it

 

Customer entering pin number into machine at counter in cafe

For many people, impulse shopping is their kryptonite. A small Starbuck’s treat or a new top, or a great leather bag might not seem like they will ruin your monthly budget, but they can add up quickly. Impulse shopping can destroy even the most organized budget, but there is good news—impulse shopping is relatively easy to avoid.

Set an Expiration Date

Impulse purchases are the purchases that you don’t really need, but the ones that you want. You can avoid impulse buys by merely setting an expiration date on your potential purchase. If you see an item you like and want to buy, put it down and if you still want it after a set amount of time, you can purchase it. If you aren’t thinking about it after that fixed amount of time, you didn’t want it that badly. Some people may set their expiration date as the next day, 14 days, or even 30 days. The longer you can go without the item, however, the more likely you are not to purchase it.

Don’t Shop When You’re Upset or Hungry

Everyone has heard that it’s a bad idea to go into a grocery store when you're hungry, but it’s also a bad idea to shop, in general, when you are upset. Impulse shopping tends to happen when a person is looking for a quick pick-me-up. If you’re feeling a little blue, a new shirt might make you happy, but odds are you don’t need or want that item. If you’re upset about something, consider taking a walk, talking to a friend, or indulging in some self-care. Just make sure you stay out of the stores.

Set a Splurge Budget

Life is meant to be enjoyed, and sometimes purchases do make you feel good. There is absolutely no reason to deny yourself of every pleasure. Instead of shopping with abandon, set a splurge budget for yourself each month. Keep track of your purchases, and make sure they don’t exceed the splurge budget. You can even use an envelope system to ensure you don’t go over that budget. Set the amount of money you’ve decided on in an envelope, and only pull from that envelope when splurging. When the money is gone, you can no longer splurge on impulse buys until your next budget cycle begins.

Block Your Most Tempting Websites

You can download add-ons in most browsers that allow you to block sites during specific periods of time. If you know you tend to online shop when you’re bored at night, consider blocking those sites during the hours when you are most tempted. If you can’t easily access the website, you’ll be less likely to buy with abandon.

Impulse shopping is a problem, but it’s one that can be overcome with just a little bit of discipline and planning. Use the tips listed above to reign in your shopping impulses, and we are sure your budget will be back on track in no time at all.

Learn more Money Management skills

Join our newsletter!

Latest posts

Revising Your Will

4 Reasons to do so
Read More

Money and Marriage

How to maintain financial health
Read More

Private Mortgage Insurance

5 Things you need to know
Read More

Holiday Budget Planning

A few tips for millennials
Read More