Everyone knows a poorly considered purchase can wreak havoc on your budget and finances. Items that are bought without careful consideration can lead to significant buyer’s remorse and put you in financial hot water. Even those who are aware of the danger of impulse buying may find themselves swiping a card without careful consideration. Included here are a few tips to help you avoid impulse purchases and keep you in calm financial waters.
The first step to avoiding a dangerous impulse buy is by taking the time to shop around. Calling other stores or dealers can help you find the best price and give you more time to consider the purchase. Not to mention, taking time to carefully consider can also give you time to find coupons.
With the craze of extreme couponing, many people have begun to discover the value of coupons in their weekly grocery shopping, but do you realize how much more versatile they are? Coupons can be utilized in purchasing new vehicles, new televisions or even in getting your haircut. By taking the time to carefully consider your decision by shopping around, you can also look online for coupons that will make it more affordable.
Sleep On It
Some researchers say that periods of unconscious thought, like sleeping, can actually allow you to make better life decisions. The problem of “over thinking” may come into play if you are obsessing over a purchase one day, but don’t allow your brain to rest on it overnight. By taking time to sleep on a decision, your unconscious thoughts may help you make a better choice in the long run.
This is why all major purchases, or even insignificant ones, should be slept on overnight. Seeing a commercial for a burger and fries may tempt you in the evening hours, but if you go to bed, instead of to the local restaurant, you may find yourself renewed in your commitment to your diet by morning. Sleeping on it can help you with everything from buying a new car to making a move in a relationship, so head to bed and let your unconscious mind do the work for you!
Pay in Cash
An interesting phenomenon occurs when you spend with cash rather than swiping a card. Most humans will experience an innate desire to hold onto their physical cash, and not hand it over for purchases. On the other hand, people who choose to only swipe cards are less concerned by the total cost of their purchases.
Some studies have shown that people will spend up to 20% less on a monthly basis if they make all of their purchases in cash. Surprisingly enough, millions of people deal exclusively on cards and their budgets have the numbers to prove it. To cut down on your impulse purchases and poor money-management, spend only in cash and see what you save!