Sale, sale, sale! 50% off! Today only! Buy one, get one free! Marketers have mastered the art of getting you to make impulse purchases but should you buy? Today we'll look at 5 simple tips to stop impulse buying.
My family and I recently went furniture shopping for a new couch. I'll be the first to admit we are not good furniture shoppers. My wife and I have been married for 18 years now and we have bought one couch. We were overdue for something comfortable to sit on in our house.
Like most furniture stores we were greeted at the door by a sales person and kindly followed everywhere we went. Granted, it's been a while since we shopped for furniture, but talk about sticker shock!
Surprisingly we found a sofa and love seat that we liked. Total price $4,500. My budget was $1,800 max! After crunching some numbers the sales lady told us with tax and delivery we could have the set for $2,300. My budget was set, my mind was made up and I really didn't want to budge. She could tell.
She asked what amount I had in mind. I told her my price and sure enough we were able to get them for slightly less than what I had budgeted.
I'm sure the furniture store still made out fine with a profit but I didn't care. It was a win-win for me. I got what I wanted for the price I wanted to pay.
The thing that stuck out to me was how much more appealing the lower price was. Obviously everyone wants to pay less but how much? My starting price was $4,500. That's not chump change! When you start that high even $2,300 looks appealing. This is exactly how stores get you to buy things you don't need.
5 Ways To Stop Impulse Buying
1. Don't buy because it's a good deal
Forget about it unless you planned on buying the item in advance and have saved the money to pay cash for it. The first question our furniture sales lady asked was, "Are you paying cash?" Absolutely!
2. Don't buy just because it's cheap
It seems easy to justify wasting $10 here and there for a good deal but don't do it. Ask yourself if you would pay $100 for it instead. If you can justify that then maybe there is a place for it in your home. This tip will keep the clutter out of your house as well.
3. Stay away from shopping when you're feeling blue
To some it's food and to some it's shopping. Our brains work in mysterious ways sometimes. Remember, the purchase may give you some relief from feeling down but it will be short lived.
4. Steer clear of the stores
One way to stop impulse buying is to remove the temptation altogether.
5. Shop with a saver
If you like to spend money and your spouse likes to save it then you are perfect (and maybe sometimes frustrating) shopping partners. Be open and honest about what you are buying and why you are buying it. If you both agree then buy it.
Question: How do you stop impulse buying? You can leave a comment by clicking here.