Have you ever used shopping to sooth a sad mood, waste some time with girlfriends, or reward yourself for achieving a goal?
Yeah, me too.
It lead to a lot of impulse purchases. Things I didn’t need, trendy items that would be out of style next season, or aspiration items.
It’s okay, you and I are not the only ones that do this! Our consumer habits are instilled on to us at an early age. Advertisers use many tactics to convince you that your life really will be better off if you buy their product. The Balance, talks about 13 ways advertisers persuade you to buy their products, and the ones that have worked on me are: scare tactics (the sales is only on for today!), endorsing people I like and follow, and attacking self-esteem through my social standing.
Here’s the thing, if you try to keep us with the Joneses, you’re going to be broke, because they’re in debt! Joe over at Budget Boss talks about our generation’s war with debt. He has some really great tips so be sure you check it out!
I think one of the biggest challenges with spending is buying things we really don’t need.
Many of us are making more conscious choices with our spending. We choose an item we want, do our research, compare to other items, read reviews, etc. Many sites, such as Amazon rely on reviews to boost sales, because our generation really wants to consider the quality of an item… as well as others opinions before we buy. But researched spending is still spending no?
These bad spending habits bring clutter to our lives, not only with the stuff we are buying, but they also subtract time, energy, and money.
So how do we change these habits?
We need to shop with intention.
One of my biggest goals for 2018 is to have minimal waste. Which means I can’t just buy something shiny and new to replace an older model that I have which works perfectly fine. Finding alternatives to disposable items (like plastics), and really being intentional about how and where I’m spending my money.
Here are 10 tips to help you curb your spending habits:
- Unsubscribe from store emails: You don’t need that advertiser being a mind-ninja threatening you that if you don’t buy today you’ll miss out!
- Get rid of loyalty cards taking up space in your wallet: These are another tactic to keep you coming back to their store, with expiring credits, special promotions, and levelled loyalty.
- Avoid malls and shopping centres: Many impulse purchases happen when we’re “just browsing”
- Wait 24 hours (or longer) before you purchase something you want: Think about whether you need it, how often it will be used, where it will be kept in your home, and if you already own something that could work instead
- Plan a “spend-free” 24 hours, week, month: The best deal there is…is the deal of spending nothing
- Make a shopping list of things you need… AND STICK TO IT!
- Spend your money on experiences rather than things: This is probably my easiest tip to follow here because all I ever want to do is travel!
- Pay for things with Cash: This will give you a set budget and force you to focus on what you set out to purchase in the first place.
- Use up or wear out what you have before you buy something new: You don’t need duplicates taking up space in your home.
- Talk to your family about “no gift” holidays: Instead maybe spend this money on a family experience like and outting or a trip.
Do you have any bad spending habits that you can improve in 2018?
What tip will be the most helpful to you?