7 Smart Ways To Curb Impulse Spending

With enough frequency, unplanned purchases can dismantle any financial situation. And send you spiraling out of control. To help consumers avoid this fate, the following list details seven clever strategies to eliminate impulsive expenses. Follow them and in no time, you’ll be well on your way to a life not bound by financial constraints!

1. Ditch Credit and Debit

Abandon the plastic in favor of hard cash. Instant withdrawals enable impetuous spending sprees that can incur hefty losses; instead, stick with an ATM card. This should suffice for all basic needs, and withdrawal limits can taper the available funds on hand.

2. Compare Goods with Cash

Swiping the card makes it easy to forget how much physical money is actually being spent. Take the money out first to feel how much is being exchanged. A side-by-side comparison can show the true value of cash over any mere object.

3. Use Layaway

If a stunning display catches your eye, take advantage of layaway policies instead of making an outright purchase. This grants the certainty of securing the item without mandating a full transaction up front. After the dust settles, see if you want to come back later for the expensive goods.

7 Smart Ways To Curb Impulse Spending

4. Keep Receipts

Return policies are graciously forgiving, so take advantage of them! If an impulse purchase was not initially averted, it is not too late. Use an original receipt to take back the unnecessary merchandise for a refund, or at least obtain store credit to apply towards something more useful. A portfolio of receipts can also aid in a trip to Paddon & Yorke Inc for planning future financial prospects.

5. Shop Around

Dispel the alluring sense of exclusivity by seeking brand comparisons across various outlets. The offerings are obviously plentiful, and traveling to multiple stores shows that the deals are not going anywhere soon. This means it is safe to take the time needed for mulling over a financially sound determination.

6. Avoid Online Purchases

Single click shopping is the bane of impulsive shoppers that want to cut back. Making the investment of traveling to the store demands a commitment to the transaction that is not found on the Web. Weed out unnecessary acquisitions by asking yourself this: If you aren’t willing to leave the house for it, is it really worth buying in the first place?

7. Participate in Auctions

Leisure cash can be delegated to the bidding circuit to eliminate excess extravagance. Being outbid can provide a wondrous experience of letting go. The intensity of competition allows for a realization that others value the bidding war more. Sometimes, leaving an auction empty handed is the greatest victory, especially for the pocketbook!

Adhering to the aforementioned advice can quickly reduce the amount of money being spent in a careless fashion! Securing your financial footing and adhering to a more financially responsible lifestyle will take time and discipline, but the important thing is to stay proactive and resolute. Before you know it, you’ll be on top of your finances and enjoying the freedom that comes with financial independence.

About Anica O

About the author: A recent college graduate from University of San Francisco, Anica is a full-time freelance writer. She has already published articles for a variety of industries, ranging from technology to beauty to health. She loves dogs, the ocean, and anything outdoor-related. You can connect with her here.