Discover the shopping tricks guaranteed to save you money on unnecessary impulse buys!
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It's so easy to rack up a high bill when browsing the aisles of all the delicious snacks, colourful cosmetics, and must-have gadgets that catch our eye.
Unfortunately, for people on a budget, there's no worse feeling than seeing your money go up in smoke for purchases that, in hindsight, weren't even necessary.
If you want to lower your spending habits, well, buckle up! Here are some easy-to-use tricks to help you achieve your goals.
The 'Want but Wait List'
Impulse shopping is something we've all fallen victim to, some of us more frequently than we'd like to admit. But there is a way to determine if the product you want to buy is a ‘need’ or just a ‘want’.
Katie Gatti Tassin, a money guru, revealed her clever twist on the classic 'wish list' concept and has renamed it the 'Want but Wait List'.
Speaking on social media, Katie shared, 'I am at my heart of hearts a shopper girly, and I frequently will find myself wanting to buy things that three weeks later I'm like “I don't know why I bought this.”’
She continued: 'I have a “Want but Wait List” on my phone, it's just on the notes app. It's not fancy, but I basically will put anything that I think I want on this list just to get it on paper, even get the little dopamine hit of writing it down and... I'll set a timeline that I have to wait…’
‘I would say 75 per cent of the time, by the time the time is up I'm like “Eh the desire has passed, I don't want it.”’
Katie suggested that creating space after feeling the ‘first little desire’ can help the feel of an impulse buy pass.
You can watch Katie’s video here:
Katie’s followers were thankful for the tip, and some even shared their own experiences with having this kind of list.
‘This is actually a lovely idea. [I will] give this a whirl because I'm so impulsive and regret things a couple days later,’ a follower wrote.
‘I do the exact same thing! I usually delete AT LEAST half of the things I initially put on the list,’ another person commented.
‘Have started doing this 1 month ago and the wishlist/waitlist is amazing for discerning whether I want to deploy my cash on it or not,’ a third person said.
The One Percent Expenditure Rule
This clever impulse-fighting hack revolves around your gross income. Depending on how much you make in a year, you calculate what one per cent of that figure is.
Then, every time you feel like you want to splurge on something that's one per cent or more of your gross annual income, you have to wait 24 hours before buying (but you can always tweak the value of this rule to suit your income, as well as your weekly or monthly pay in case your impulse purchases are of smaller value).
For example, if you earn $70,000 a year, and an item is $700 or more, you must wait a day before buying it.
Similar to the 'Want but Wait List', this rule allows you to take some time to consider whether you truly desire the item. You can utilise the day to search for less expensive alternatives and save some more money if you want the product.
The 30/30 rule
Joshua Fields Millburn, one-half of the podcast and author duo The Minimalists, invented this rule.
He shared the particulars on his blog: 'If something I want costs more than $30, I ask myself whether I can get by without it for the next 30 hours. Hence, 'the 30/30 Rule'. (If it's $100 or more, I tend to wait 30 days.)'
The great thing about this rule is that it encourages thinking before you even hit the checkout, and when you eventually do make the purchase, you feel better about it because you have been intentional with it.
The 'Take it to the Bin' Trick
There are few things more disappointing than seeing something look attractive in the store, then you get it home, and it looks the complete opposite.
With that in mind, we left our 'Take it to the Bin' trick! This trick works best for home essentials, so, for instance, should you feel the pull of something attractive for your house in the aisle, Morgan Smith recommends taking it over to the bin section and seeing if it stands out there.
If it does, you know it's the real deal; the item you wanted to buy wasn't just a trick of the light or the store's arrangement. However, if it doesn’t look good next to a rubbish bin, it might not be worth your money.
Morgan explained that seeing products in relative isolation is a great way to assess whether you genuinely like the item or have just been fooled by the attractive in-store displays.
To read more details about this tip, you can read our article here.
If you want to live a more budget-savvy lifestyle, these four excellent tricks will help. Let’s stay wise with our shopping and save the most of our hard-earned cash for the things that matter!
Have you tried any of these tips, members? Do you have other techniques to avoid impulse buying? Let us know in the comments below!
Unfortunately, for people on a budget, there's no worse feeling than seeing your money go up in smoke for purchases that, in hindsight, weren't even necessary.
If you want to lower your spending habits, well, buckle up! Here are some easy-to-use tricks to help you achieve your goals.
The 'Want but Wait List'
Impulse shopping is something we've all fallen victim to, some of us more frequently than we'd like to admit. But there is a way to determine if the product you want to buy is a ‘need’ or just a ‘want’.
Katie Gatti Tassin, a money guru, revealed her clever twist on the classic 'wish list' concept and has renamed it the 'Want but Wait List'.
Katie Gatti Tassin shared her twist on the ‘wish list’ concept. Credit: picjumbo.com/Pexels
Speaking on social media, Katie shared, 'I am at my heart of hearts a shopper girly, and I frequently will find myself wanting to buy things that three weeks later I'm like “I don't know why I bought this.”’
She continued: 'I have a “Want but Wait List” on my phone, it's just on the notes app. It's not fancy, but I basically will put anything that I think I want on this list just to get it on paper, even get the little dopamine hit of writing it down and... I'll set a timeline that I have to wait…’
‘I would say 75 per cent of the time, by the time the time is up I'm like “Eh the desire has passed, I don't want it.”’
Katie suggested that creating space after feeling the ‘first little desire’ can help the feel of an impulse buy pass.
You can watch Katie’s video here:
Katie’s followers were thankful for the tip, and some even shared their own experiences with having this kind of list.
‘This is actually a lovely idea. [I will] give this a whirl because I'm so impulsive and regret things a couple days later,’ a follower wrote.
‘I do the exact same thing! I usually delete AT LEAST half of the things I initially put on the list,’ another person commented.
‘Have started doing this 1 month ago and the wishlist/waitlist is amazing for discerning whether I want to deploy my cash on it or not,’ a third person said.
The One Percent Expenditure Rule
This clever impulse-fighting hack revolves around your gross income. Depending on how much you make in a year, you calculate what one per cent of that figure is.
Then, every time you feel like you want to splurge on something that's one per cent or more of your gross annual income, you have to wait 24 hours before buying (but you can always tweak the value of this rule to suit your income, as well as your weekly or monthly pay in case your impulse purchases are of smaller value).
For example, if you earn $70,000 a year, and an item is $700 or more, you must wait a day before buying it.
Similar to the 'Want but Wait List', this rule allows you to take some time to consider whether you truly desire the item. You can utilise the day to search for less expensive alternatives and save some more money if you want the product.
The 30/30 rule
Joshua Fields Millburn, one-half of the podcast and author duo The Minimalists, invented this rule.
He shared the particulars on his blog: 'If something I want costs more than $30, I ask myself whether I can get by without it for the next 30 hours. Hence, 'the 30/30 Rule'. (If it's $100 or more, I tend to wait 30 days.)'
Joshua Fields Millburn shared that he uses the 30/30 rule to gauge how much he needs to buy an item. Credit: Teona Swift/Pexels
The great thing about this rule is that it encourages thinking before you even hit the checkout, and when you eventually do make the purchase, you feel better about it because you have been intentional with it.
The 'Take it to the Bin' Trick
There are few things more disappointing than seeing something look attractive in the store, then you get it home, and it looks the complete opposite.
With that in mind, we left our 'Take it to the Bin' trick! This trick works best for home essentials, so, for instance, should you feel the pull of something attractive for your house in the aisle, Morgan Smith recommends taking it over to the bin section and seeing if it stands out there.
If it does, you know it's the real deal; the item you wanted to buy wasn't just a trick of the light or the store's arrangement. However, if it doesn’t look good next to a rubbish bin, it might not be worth your money.
Morgan explained that seeing products in relative isolation is a great way to assess whether you genuinely like the item or have just been fooled by the attractive in-store displays.
To read more details about this tip, you can read our article here.
If you want to live a more budget-savvy lifestyle, these four excellent tricks will help. Let’s stay wise with our shopping and save the most of our hard-earned cash for the things that matter!
Have you tried any of these tips, members? Do you have other techniques to avoid impulse buying? Let us know in the comments below!
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