Impulse shopping is usually defined as any purchase made in the heat of the moment for a non essential item. Impulse shopping might sound like a new idea, but for most people it has been a way of life since they were kids. We have all impulse shopped whether at line at the grocery store and purchasing a pack of gum at the counter or while walking through the mall deciding to enter the record store to purchase a new CD. While impulse shopping is fun and satisfying, in many ways it can have a negative effect on your finances. Here are some tips on avoiding impulse shopping.
If you Impulse Shop, Never Use a Credit Card
For most people, it is ok to impulse shop in moderation, however if you choose to do so, make sure you do it with cash. The reason being is that that an impulse buy of a CD for $20 can cost two to three times as much if purchased with a credit card and repaid for several years. Credit cards are convenient, but they are extremely costly. Interest alone can make that sale item extremely pricey.
Never Shop Because You are Bored
Shopping while you are bored is giving you an excuse to spend money. If you are wealthy and view shopping as affordable entertainment, by all means go ahead, however for those that are in debt or have limited income, shopping because you are bored will almost always get you in trouble.
Use a Shopping List at the Grocery Store
You may think that impulse shopping occurs only in the malls, but one of the most popular places in which people impulse shop is at the supermarket. Supermarkets design their store so that you impulse shop. This is why the milk, an item everyone needs is always at the very back of the store. This way you will walk by many other items, hopefully buying a few. Two things you can do to limit your impulse shopping at supermarkets; the first is to never shop hungry and the second is to always use a shopping list.
Never shop when hungry is quite obvious. Many people when hungry have big eyes and will buy an item that looks even slightly appetizing. Using a shopping list is a great way to plan your shopping. If you know exactly what you want, you will be less inclined to impulse shop.
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