Off late, the most common words that I hear from youngsters are “I am bored ya!! So, let’s go shopping…” Surprising indeed that spending on shopping has become India’s favourite pastime!
Probably the reason might be advertisements that keep popping up around us from city buses to billboard trucks. Marketers spend extensively in order to convince us that products offered will prevent our boredom, will make us feel successful, enable us to attract the opposite sex, and a number of other things. Since these ads are carefully designed, they manipulate our spending habits. Hence, a number of us become emotional spenders.
Emotional spending is when you buy something which you are not in need of currently. Sometimes boredom, stress, under-appreciation, incompetency, and a number of other emotional aspects are the culprits behind emotional spending.
In fact, we at times spend beyond our budget even if we are extremely happy. However, it’s not wrong to spend on yourself at times. As long as your pocket permits, and your finances are in in place, there is no issue. However, if you struggle to pay your bills every month end, then you need you evaluate yourself?
The following will help avoid impulsive and emotional buying:
The best way to cut down on emotional spending is curb your desire of impulsive buying. This doesn’t mean that buying a gum at the checkout counter is impulsive buying. Before you just jump to the conclusion of buying something that attracts your attention, just wait for 24 hours. If, after 24 hours, you feel that probably you do not need that product urgently that’s when you have acted smart by not paying for it at the cash counter. It is always wise to keep a wish list of things you wish (Please note that it’s for the things you wish and not want) to buy and probably you can treat yourself with the same on your birthday. Scheduling your purchase is always better than impulsive purchase.
Keep the Ad Man at Woof:
Intentionally keep yourself away from advertisements. The less you are exposed to ads, the better calculative purchases you will make. Unsubscribe for all the product catalogues that ping your mailbox or download a program that blocks ads appearing on your screen. These small steps sometimes help.
If you are one of those who gets tempted by displays, then restrict your visit to malls and stores. Avoid casual visits so that you do not end up buying things you do not need.
Find Alternative Activities:
Since boredom is identified as one of the major reasons behind impulsive buying, engage yourself in other activities. You may visit a friend’s house, or you can watch a movie, enjoy a long walk, etc. This will stop you from indulging in your favourite pastime – “Impulsive Buying”
The Bottom Line:
The whole idea here is not to stop buying things that you enjoy- if you sometimes don’t buy things that you cherish, then what’s the point of earning and living. However, controlling your shopping habits will offer better control over your finances. Once you are out of the trap of impulsive buying you will enjoy all your purchases without the guilt of spending too much.