Impulse
buying is one of the reasons why you break your budget. If you give
in to that buying whim, you will eventually become broke. But impulse
buying is something you can avoid if you employ the following
strategies:
-
Before buying, determine if that thing you want to buy falls under the “want” or the “need” category.
Only
buy it if it’s in the “need” category. If it is something that
depreciates in value, think twice before buying it. If it’s
something that loses value after a few uses, skip buying it. If you
can get your money’s worth on it by being able to use it for a long
time, go ahead and buy it. Things that you need are the ones that can
supply your basic necessities.
-
Make a list of things you need to buy before heading out.
Always
stick with that list. Becoming more purposeful in your shopping
habits allows you to ditch that impulse buying habit.
-
Set long-term goals.
Do
you want to have a European vacation? You can’t have it if you keep
on spending money on useless things. Set a long-term goal and always
remind yourself of that goal to avoid letting go of your money on
things that only bring instant gratification.
It
also helps to formulate a budget. Seeking the help of Chalten
Advisors for Financial
Planning in Vancouver
allows you to know where your money should go. Do financial planning
in Vancouver BC in order to determine how much budget you need to
allot for impulse buying. This way, you can still give yourself
allowances on impulse buying but you’re not spending all of your
money on it.
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