7 Ways to Avoid Impulsive and Compulsive Spending

What is Impulsive Spending? If you spend hours browsing shopping sites or buying stuff that you know you want and do not need, chances are, you’re an impulsive spender. But, what does that term mean?

According to Forbes, impulsive spending means when you buy something you weren’t planning on getting. Imagine walking into a shop, and you get free perfume samples; you weren’t planning on making that stop but ended up buying a new fragrance. That’s impulsive spending.

Causes of Impulsive Spending You’ve probably wondered why you do this. Impulsive spending happens for many different reasons. Some are entirely harmless, and others can be more serious.

We Experience Emotions Emotions and money are closely linked. When you’re bored or have not had a great day, it can be easy to walk into the store and do some retail therapy.

We Love Material Stuff

Human beings are generally pleasure-seekers; we love instant gratification and material stuff. We dream about money and the things money can buy.

What is Compulsive Spending? Compulsive spending is often confused with impulsive spending; however, it is a lot more severe. Many people consider compulsive spending to be an actual compulsion rather than something you do on impulse.

Causes of Compulsive Spending Seeking happiness and peace in material items is one of the biggest reasons people show compulsive behavior. Compulsive buying is often used as an outlet to state these urges and feelings. And before you know it, this shopping behavior becomes an addiction.

Impulsive vs. Compulsive Spending: How to Tackle Them?

1. Realizing You Have a Problem The first step toward overcoming your spending habits is to realize that you have a problem and that you need to work on it.

2. Take Back Control of Your Finances Suppose you are having a hard time keeping track of your finances and cannot keep your impulses under control. That means that you haven’t gotten to the actual problem.

3. Set Yourself up for Success If you want to stop your impulsive or compulsive shopping habits, it’s essential to set yourself up for success. It’s easier to avoid getting in the temptation to buy than resisting the temptation.

4. Avoid Credit Cards When Possible Credit cards can be great, and there are many benefits to using them, but not for everyone. Credit cards are a compulsive buyer’s best friend and worst enemy. They allow you to shop for whatever you want, whenever you want, without thinking about overspending or budgeting, and leading you to acquire a card debt.

5. Set up a Waiting Period As impulsive shopping is a very spur-of-the-moment thing, one of the best ways to avoid it is to set up a waiting period for yourself before every purchase.

Spending money is exciting and fun in the short term, but the excitement quickly fades. Nearly everybody has made an impulsive purchase at some point. If you’re getting into the habit of impulse shopping, the above tips can help you prevent it altogether.

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