How to Stop Impulse Buying

Spending money has never been easier. With cards and phones always within reach and contactless payments available almost everywhere, it’s becoming more difficult to keep track of where your money goes. Most of us have experienced that moment, you’re walking through a shop or browsing online, and something catches your eye. Maybe it’s a pair of shoes, a new gadget, or even a chocolate bar at the checkout. You hadn’t planned to buy it, but you do. This is known as impulse buying, and it’s far more common than people realise.

A study in the UK revealed that 88% of people admit to impulse shopping. That means a large number of us are making purchases without thinking ahead or considering the long-term impact on our budgets.

Why Impulse Buying Happens

Impulse buying usually happens because we make quick decisions based on emotion rather than need. It can be triggered by boredom, stress, sales promotions, or even just the feeling of reward. With online shopping, it’s easier than ever to spend money without even leaving your home, which makes impulse control that much harder.

Make a Shopping List and Stick to It

One of the best ways to avoid impulse spending is to create a list before you go shopping or browse online. Knowing exactly what you need helps you stay focused and reduces the chances of adding unplanned items to your basket. If something isn’t on the list, try not to buy it. This not only prevents unnecessary purchases but also helps you stick to your budget more easily.

Give Yourself Time Before You Buy

If you see something you want but don’t really need, give yourself time to think it over. Waiting just one day can make a big difference. Often, the excitement of the moment fades, and you’ll realise that you didn’t need the item after all. This simple habit can help stop impulsive spending and lead to more thoughtful choices.

Set a Realistic Budget

Creating a budget for non-essential spending, like clothing, takeaways, or entertainment, can give you clear limits. Once you reach that limit, try not to spend any more until the next week or month. If sticking to a strict budget feels too difficult at first, start with a more flexible plan and ease into it. This gives you time to adjust your habits without feeling overwhelmed.

Avoid Triggers and Reduce Temptation

Small changes to your daily habits can help reduce the urge to spend. Try unsubscribing from marketing emails, deleting shopping apps from your phone, and avoiding online window-shopping when you’re bored. The less you expose yourself to tempting offers, the easier it is to avoid unnecessary purchases.

What If You’ve Already Overspent

If you’ve spent more than planned and are struggling to cover essential costs like rent, bills, or groceries, it might be tempting to take out a payday loan. These short-term loans can help in emergencies, such as when a car breaks down or an unexpected bill arrives. However, they should only be used with caution.

Payday loans come with high interest rates, and if not repaid on time, the debt can grow quickly. They are not a long-term solution and should not be used to cover frequent overspending. If you’re considering this option, make sure you explore all other alternatives and fully understand the terms.

At PMLoans, we’re here to support you and help you get your hands on that payday loan you need. For more information, click here.