Avoiding Emotional Purchases
Everyone would love to make a lot of money throughout their career but one thing that affects the personal finances of people is submitting to an emotional purchase. For people who are not familiar with that term, an emotional purchase is when you buy something that you don’t need because you are depressed and you lift your spirits by spending money.
It’s not a bad thing to spend money on things that give you joy. You should have a part of your budget for your hobby but there has to be a limit. However I’m not talking about hobbies, I’m talking about purchases that have no other purpose than lifting your spirits because you are spending money.
You want to avoid these purchases that will make you happy for the moment because your previous feeling will return moments after the purchase is complete.
If you want to know how to stop buying things you don’t need, there are things you can try below:
1: Understand Why You Are Buying Things You Don’t Need
Recognizing the feelings that make you go through with an emotional purchase is what you need to do first. The first step is identifying why you spend money when you feel a certain emotion if you want to stop.
2: Realize What Causes You To Make An Emotional Purchase
What you feel when you buy these things you don’t need is only one part of the equation. There is something externally that is influencing you to spend your money. Some people end up having to spend money when they browse the merchandise. You have to learn what is influencing you externally to spend money then you have to avoid those influences as much as you can.
3: Remove Yourself From Mailing Lists
When anyone buys anything, anyone would love to get a good deal on what they are purchasing. So if a store that you visit regularly has a list they send out through E-mail, that e-mail might be an external influence for you to buy more than you need.
4: Make A Financial Plan For Purchases You Don’t Need
If you come up with a certain amount that you can spend on things you want, then you can still reward yourself from time to time. You also may save money by spending a little bit now instead of a lot later.
5: Make Sure Your Credit Card Stays Home
Many people are willing to buy something they know they can’t afford if they keep their credit cards on them at all times. If you don’t have your card on you at all times, you won’t spend more than you have as often.
6: Don’t Let Websites Keep Your Credit Card Info
Some websites let people make purchases online so when that person checks out, their credit card information is already stored and you don’t have to go through the process of entering it every time. It’s very tempting to be able to check out so quickly which could increase the number of times you buy something online.
7: Don’t Purchase Anything Extra
When you take something off a shelf to buy, only go through with the purchase if you intended to buy that item when you first went into the store. While this may be hard, it will save you money in the long run.
8: Wait 24 Hours Before You Buy Something You Want
If the other techniques don’t work then wait 24 hours before you commit to purchasing something you don’t need. Maybe you feel you won’t need to make that purchase after some time has gone by. Also after some time, you might not even want that item anymore. If you still want to buy the item after 24 hours of resisting it then purchase the item.
If you try these techniques, you can stop yourself from going through with an emotional purchase. While some are fine and you should remember to treat yourself, there has to be a limit. Purchasing something for the sake of purchasing something is never a good idea.
