Personal finance: how to avoid impulse buying

According to Reinaldo Domingos, a financial therapist and educator, one must be alert when the first symptoms of compulsory behavior appear.

The verb of the moment is Deserve, where people understand that they deserve a certain item because they worked a lot here, these items can be daily clothes, watches, computers and other goods. Gifts for children without merit or car exchange for vanity.

In all acquisitions, there is always “I deserve”, at the end of the sentence, where each person has their reasons for confirming that it was a good acquisition.

Even with the passage of time, this shopping frenzy is not over. Where in fact they are unable to settle for what they already have, thereby damaging their personal finances.

This type of behavior, according to educator Reinaldo, has a great influence on the results obtained, when we talk about money. With a financial life that is stalled or is still going backwards, it can be a warning sign, as it will be necessary to stop and understand what is being done wrong. At that moment, all the habits that lead to consumption are necessary.

There are those who believe that it is necessary to spend as if there is no tomorrow, as life is very short, so everything needs to be very intense.

Buying usually takes place, as a form of autopilot, for people who have the drive to shop.

These people make the decision without even thinking a little beforehand, about the real need for that purchase, to have the necessary consideration. They are going from acting rationally to acting that way.

Anyone and everyone is subject to expenses that were not planned, especially when we talk about purchases that were not necessary at that moment, or those acquisitions that are made in the heat of the moment, driven by emotions. But this cannot become a habit or worse, having merit as an excuse.

Impulsivity can be understood as a way that the person found to have a reward, in function of a greater good. The person makes purchases on impulse so that he can satisfy a momentary desire, but that can compromise his personal finances, as well as his plans for the future.

Understand how to avoid impulse purchases and avoid losses!

It may seem like a very complicated task, but nothing like that, everything is very simple and the only watchword is: Control, check out some tips to avoid making impulse purchases:

  • Reflect on your consumption habits:
    • Do you go shopping when something is different in your life, like when you are very nervous or sad, as if it were a therapeutic form?
    • Do you resist the promotions even though you don’t have the money to make the purchase?
    • In a case where your child needs a new shirt, but his father’s birthday is coming, and you don’t have the money to buy everything, what to do? Buy a more affordable item to meet the need and talk to the other indicating the problem or make a pompous purchase to be able to impress, even knowing that it will be necessary to install in many times, disrupting your personal finances?
    • In the case of a promotion announcement, where you have not yet received the benefit of the change. Do you wait for the condition to take effect to spend something a little more or do you already make the purchases thinking of paying as soon as the additional amount comes out?

All the situations that were mentioned above are for you to reflect on them and think about how your reaction would be, at that moment you need to be honest with yourself. Try to understand what your motivations would be in each situation. This is the most important step for you to take control.

  • Understand that not all promotion is within the context of your personal finances: It does not help much if you find a product that is at a more affordable price, but you have already exhausted your budget. And we also reinforce the purchase issue, just for the reason that it is on sale, because there is no need for that purchase.

For you to be able to make a good purchase, it is important that you are not impressed with discounts, messages sent by stores and mainly with percentages of discounts.

Make a detailed analysis of your budget, what your real needs are and think about why that item is on sale. So that you can consider whether that purchase is really a good deal.

  • Organize your budget: In order to achieve a better organization of your personal finances, start paying attention, in detail, to your expenses. This is an excellent exercise for you to avoid impulse purchases. When you can get a sense of what you’re spending, you’ll be able to contain expenses that are not needed at that time.

You can use an app so that you can control your budget, detailing all expenses and all your earnings.

Where it is possible to separate expenses by large groups and also set goals for your earnings, with personalized alerts to avoid spending exceeding a certain limit.

Planning your purchases is the best idea so that you don’t have unnecessary expenses. An interesting idea is to opt for a credit card that has smart limits. But how does it work?

It is a card that you can set so that purchases are made only on purchases with no installment option (with a lower limit) and another with a limit for installment purchases (with a higher limit).

That way, you can organize your personal finances without compromising all your credit on purchases with a higher value.

  • Know how to differentiate between desire and need: You need to be able to understand and differentiate what are the real needs and what are just wants at the moment, like a shoe to work with because you don’t have another one to replace or a blouse that is fashionable. Being able to hold on to impulses is the key to achieving financial stability.

We are not saying that you do not need to stop doing some wills, what you need to understand is that the custom of differentiation is important for setting priorities, and especially to contain the impulses of purchases.

  • Exchange a new piece for an old piece: It is very common to see people who have a closet with many clothes and are still saying that they do not have clothes? This situation happens in many places and is very familiar to many people.

However, you can work around it with a very simple exercise: before buying a new piece for your closet, choose an old piece that you can donate or resell, to compensate for the purchase of a new piece. That way, you can reflect on your purchase and maybe even give up buying that new piece.

So that you don’t buy something you don’t need, do an interesting exercise, think for a few minutes about the need for that purchase.

If even then, the will does not pass, leave the purchase for the next day, after all, the item will still be on sale, considering normal conditions.

This time is important for there to be a reflection of the need to purchase and especially, the reasons for doing so.

Bad consumption habits can keep you from your dreams. Disrupt your financial development and achieve the long-awaited financial freedom.

Try to develop habits that generate wealth, and not the other way around. Check out other articles like this one here on our portal, you will find several other tips to thrive.



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