Sometimes, money-saving strategies do not involve anything complex or extreme. In fact, sometimes, the simpler the strategy, the more likely it is that you will be successful in implementing it. One simple strategy for saving money is to stop and think before making any purchase, no matter how small. Impulse buying is so easy to do – you go into a store for one thing and before you know it, you have a basket or cart full of things before you get to the checkout counter. Advertisers design their in-store advertising and product packaging to grab your attention as you walk by, and boy oh boy does it work. By pausing to think about every item that goes into your basket or cart you may be able to save yourself some money by avoiding impulse purchases.
The more expensive an item is, the more time you should give yourself to ponder the purchase. A pricey pair of shoes may lose its appeal over the course of a week or two, or once you get home you may realize that the flat screen tv that you already own is plenty big enough and you do not need to go back and buy that one you saw at the store that is four inches bigger.
Another way that you can help to avoid impulse purchases is to give yourself a choice. Sit down and think about something that you really want that you will need to save up for – a newer car, a family vacation, a special piece of jewelry or anything else that you really, really would like. Every time you are faced with an impulse to buy something that you do not really need, think about whether you want to buy that item right then and there or whether you would rather take the money that you would use to buy it and put it towards your savings goal. When you choose to put it towards your goal, actually take the money and put it into a special account or other form of safekeeping so that you can see the progress that you are making towards your goal as you continue to avoid impulse purchases. Even when you avoid small items, you will be inspired as you see the savings start to pile up. Impulse purchases cost us more than we probably want to admit. How do you avoid them?