How To Stop Impulse Buying: 9 Habits That Save You Money
Written by
Joseph Hostetler
Edited by
Melanie Grafil
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Unless you’re one of the few that can spend without batting an eye, impulse buying can affect your savings and lead to debt if it happens frequently. Budgeting is one of the most critical — and often hardest — aspects of taking care of your finances.
Here are eight ways to stop impulse buying, including tactics to use and pitfalls to watch for.
Signs You’re an Impulse Buyer
If you still haven’t diagnosed whether or not you’re an impulse buyer, ask yourself the following questions:
- Do I frequently make purchases I didn’t plan for?
- Do I regret purchases shortly after buying?
- Do I buy things just because they were on sale?
- Do I hide purchases or feel guilty after spending?
Answering “yes” to one of these likely means you let your emotions control your wallet.
What Is Impulse Buying and Why Does It Happen?
Impulse buying is buying something that you didn’t plan to buy. It’s often a quick decision, triggered by emotions like stress, boredom or a need for instant gratification and can often be a purchase you end up regretting later on.
What Drives Impulse Buying?
Impulse buying can be fueled by situations or emotions that influence your decision-making, such as:
- Boredom
- A need for instant gratification
- An emotionally turbulent life situation
- Fear of missing out (FOMO) due to trends on social media
- Sales and discounts, like Black Friday or Amazon Prime Day
Examples of Impulse Buying
Sales That Are Too Good To Be True
Impulse buying can be especially difficult to resist when there’s a big sale — think Black Friday, Amazon Prime Day or holiday sales. You might see something that’s been so deeply discounted and convinced yourself that the smarter choice is to buy so that you can take advantage of those savings — even if you can’t actually afford it. It’s easy to go broke that way, rather than save money.
Gaining Rewards or Points
You might also impulse buy to chase after rewards or bonuses. For example, you buy just to earn points or cash back on your credit card. Incentives like these may lead you to spend more money than you normally would.
How To Tell the Difference Between Emotional and Intentional Spending
Ideally, every purchase you make will be intentional. With impulse buying, however, your emotions play a far greater role and you might not realize how it could affect you you or your finances in the future.
This chart breaks down what the main differences between the two are:
| Emotional Purchases | Intentional Purchases |
|---|---|
| Buying recreational food when you’re under stress | Putting aside money for new shoes |
| Springing for a new outfit that you saw while walking past a store window | Saving for vacation |
| Buying a candy bar at checkout | Spending on groceries |
| Ordering takeout because nothing in your pantry excites you | Paying for utilities and insurance |
| Taking advantage of a flash sale for a nonessential item | Replacing a leaky roof |
How To Stop Impulse Buying: 9 Proven Tips
Quitting impulse purchases cold turkey is easier said than done. To overcome this habit, you need a calculated plan. Use a combination of the following tips to regain control of your finances.
1. Create a Realistic Monthly Budget
You should have a clear picture of all your expenses to make a proper monthly budget.
Categorize your expenses according to what’s necessary each month and what isn’t. Rent, utilities and transportation are largely the same each month — and they are generally nonnegotiable.
Pro Tip
Know where every dollar is going and tighten up each expense category as much as you can. Put spending limits on certain categories.
2. Use Tools To Track and Stick To Your Budget
Budgeting apps like Quicken, PocketGuard or You Need a Budget (YNAB), or spreadsheets can help you visualize where your money’s going and redirect it when necessary. Some apps, like Rocket Money, link to your spending accounts to help you understand your spending habits. They can also locate and cancel unused or unwanted monthly subscriptions that you’re paying for.
3. Use the 24-Hour Rule
You may see something that excites and emotionally charges you — but do you need it? More importantly, can you afford it? Wait 24 hours before you swipe your card to give yourself a chance to make a sensible decision after that initial high.
4. Avoid “Retail Therapy”
A shopping trip can be a fun way to spend your day, but it shouldn’t substitute for alleviating stress, especially if you’re making mostly impulse purchases. Try to find healthier ways to divert your mind, such as exercise or journaling. Take a walk or listen to your favorite records. Do something that’s within your reach. That way, you won’t be reaching immediately for your wallet.
5. Delete Shopping Apps and Unsubscribe from Emails
When you’re constantly bombarded with sales and promotions via emails and shopping apps, you’re more likely to cave under pressure. Take your name off shopping alerts and turn off notifications. You can try apps that will help you unsubscribe to email lists too. A subscription tracker app like Hiatus or PocketGuard can help you find subscriptions and cut some of those silent spenders.
6. Shop Only from Your List
Make a shopping list and don’t deviate from it. You can even order your groceries online, which eliminates the need to walk around the store and inevitably bump into something you want but don’t need.
Many popular stores, such as Walmart and Kroger, allow you to shop on their website and pick up your items at your convenience.
7. Limit Credit Card Use
Credit cards can sometimes make you believe you have more money than you actually do. Stick to using cash instead of a credit card.
You can even try a cash-only challenge. Give yourself a finite amount of cash after each payday. Remind yourself that an impulse buy now means won’t have the cash for something more important later.
8. Set Financial Goals and Visual Reminders
Just as you track your spending, it’s also good to track your savings. You can keep a savings tracker that illustrates how close you are to certain goals, for example if you’ve got your sights set on a new TV or a dream trip to Paris. It can serve as motivation to stay disciplined.
9. Use a Waiting List or Wishlist
Similar to the 24-hour rule, using a waiting list is a way to delay an impulse purchase to see if it’s something you want. Review an item a week after you write it down — you may be surprised at how differently you feel.
A wish list can also be a great tool that can prompt you to save instead of spending money you don’t have.
Final Thoughts
Impulse buying isn’t inherently bad if you can afford it. However, buying things that aren’t essential to your everyday life won’t be fulfilling either.
Take a second to think before you bring that item to the register or run your credit card. If you notice a trend or a series of similar behaviors, ask yourself why you’re doing it. Those few moments can help redirects your thoughts so that you can make a better decision and start on a healthier journey.
You can build impulse purchases into your budget. It’s a balanced approach and another way to create better financial habits, while still maintaining control over your money.
Impulse Buying FAQ
If impulse buying is affecting your finances, these answers will help you understand more about it and how to keep you from dipping into your savings.- What causes impulse buying?
- Impulse buying can be triggered by many factors, from emotional stress to FOMO to a simple lack of willpower.
- How do I stop spending money when I'm bored?
- If you're bored, you may have gaps in your lifestyle that are unfulfilling. Add positive activities to your day, such as going on a walk, hitting the gym, or reading a book — any hobby you'll enjoy that can keep you busy and prevent you from shopping.
- Can impulse buying lead to debt?
- Yes, impulse buying can lead to debt if you're not keeping a close eye on it. If you're spending lots of money on items you haven't budgeted for, you can quickly find yourself in a dire financial situation.
- What's a realistic way to budget for fun purchases?
- To budget for fun purchases, allocate a fixed amount of your monthly income in a separate savings bucket. You can even call it "impulse purchases" if you want -- nothing is intrinsically wrong with seeing and buying something you hadn't anticipated as long as you've got the money for it.
- Are there apps that help prevent impulse spending?
- There are several budgeting apps that automatically track your expenses when you attach them to your spending account, such as credit cards, your bank account, etc. You can set limits on each type of spending category and program alerts that will let you know when you've gone over that limit.
Melanie Grafil contributed to the reporting for this article.
