Ways to Save: avoiding impulse buys

Ways to Save: avoiding impulse buys

(KFVS) - Recent surveys say more than half of adults in the U.S. have dropped $100 or more on an impulse buy. And 10% spent a thousand bucks or more on one!

With the holidays coming up, the urge to splurge may get even stronger.

But whatever you're buying…be it clothes, shoes or electronics… impulse buys can blow your budget.

Psychologists say people who regularly struggle with this kind of overspending, usually fit a pattern:

  • They're more social, status-conscious, and worried about their image.
  • They tend to be more anxious, and have a harder time controlling their emotions.
  • They also tend to be unhappier.

Here are some ways to rein in your spending.

First, set at least a 48-hour waiting period for any purchase that isn't on your list. Odds are once you've had a few days to think about it, you won't bother to go back for that item.

Also, out of sight is out of mind! So stop going to the mall to browse, and stay off retail websites, too.

And if you're feeling sad or anxious, find another stress reliever. Take a long walk, take your kids to the park or call up a friend instead.

It's difficult to quit a spending habit cold turkey, so to take away the sting, build a little bit of money into your budget for a small, fun purchase or two every month..maybe enough for a new piece of clothing, or an extra meal out with friends!

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