Estimated reading time: 6 minutes
With the holidays right around the corner, we will be spending more time online… And we can simply blow our budgets quickly. See How to Stop Impulse Buying.
How To Stop Impulse Buying Online This Holiday Season!!
If you have been a follower of Inspiring Savings for a while, you know that I post plenty of online deals. Those deals kick up even more around the holidays as Black Friday approaches. My passion…is to help you save money and not spend it on things you don’t need.
According to the National Retail Federation, shoppers spent an estimated $655.8 billion in 2017 and each year since has climbed.
It makes me wonder, how much of that $655.8 billion was spent on things the shopper actually planned for, and how much of it was due to impulse wants or tricky marketing techniques.
This is why I want to address some ways that can alleviate the pressure of overspending.
Remember the thrill of making a purchase can easily change into buyer’s remorse when you get home.
Set a budget Limit
Before spending money, make sure you are staying within your budget. I have found that you can easily overspend and go over your budget limits when you spot an AMAZING deal. Ask yourself this….”Do I really need it?” or if this is for someone else on your Christmas list ask “Is this item within my budget?“
Create a dollar amount you’re willing to spend overall. This way, you may have so wiggle room within that number in case you’re presented with an unexpected deal.
And as you are spending your money, make sure you are tracking your spending. Make sure you note when an item from your list has been purchased. Keep all receipts for holiday purchases in one spot so you can reference them if necessary.
This is also helpful to ensure that your credit card statements are accurate when the bills arrive. These tips are all part of creating your budget and sticking to it.
Create a Plan of Action for Your Spending
Not only will you need to budget, but you should also create a plan of the items you what to purchase and for whom. And also how much you will be spending on each person.
This may mean a little more research is needed to find the very best deal within your price range if you have your heart on a particular item.
Pay with Cash When Shopping Online
Yes!!!! You can absolutely pay with cash online! When you shop online, it is easy to set up a credit card account with your favorite retailers. In fact, it may just take you a total of three clicks to checkout when your credit card is all setup.
The system is quick, and the money spent is also quickly put out of your mind until that bill comes in. Paying with cash online will make you accountable for what you are purchasing.
So how do you pay online? It is easy: you can pay via PayPal or Venmo, which pulls directly from your checking account. Some sites may even allow you to pay with a debit card and not a credit. This step is essential to keep you on track with your budget this holiday season.
Don’t Fall for Store Marketing Tactics
YES!!!! You can find these tactics online as well. Marketing ploys are not just at the grocery store. Those Buy one, Get one 50% off sales are all marketing tactics to get you to spend more money (as one of many examples).
Before you make any purchase, it always makes sense to seek out those deals to save money and not just purchase them because it may be a good deal. Save money by not buying those deals that you really don’t need.
Don’t Open Those Retail Emails
When the Holiday season begins so does the onslaught of retail deal emails. And if you have purchased from your favorite retailers previously, you know that they will start sending more and more promotional emails this time of year. It comes with the territory.
If you are a sucker for Legos or Zuilily try to delete those emails as quickly as they hit your inbox. Stay away from those promotions that you know you will spend money on. It is your willpower in action.
Educate Yourself on Pricing
Don’t just spend money because “well that was a super great deal“. Know your spending habits, have a plan of action, make a list, and most importantly research those items online for the best possible price.
Keep tabs on Inspiring Savings, after all, I am going to great lengths to find many deals to help you save…BUT again do not just buy an item because I mentioned a good deal.
Let’s get you set up for success this Christmas season. Think twice before buying. Again, just because it is on sale doesn’t mean you need to buy it. Keep tabs on your Black Friday shopping. This is a day when many people go out without a plan of action and spend.
They tend to spend even more money on this day because everyone is out for the same deal. But it doesn’t have to be this way. Deals have been occurring now that are projected to be better than Black Friday sales. Again, it all comes down to educating yourself and timing.