You just got your paycheck and decided to go to a mall to hang out. While walking, you saw a dress, if you are a girl, or a cool gadget, if you are a guy. What do you do? If you are an impulse buyer, you will surely buy that item without having any second thoughts, no matter how expensive it is.

Impulse Buying: A Big Ouch

Impulse buying is an act where a person makes an unplanned or spontaneous purchase. People who have this have a need for instant and short-term gratification. In most cases, the buyer does not really need the item, and just wants to try it out.

A lot of people are impulse buyers. If you are reading this article, then you are most likely one of the many people who buy things without thinking of other factors. The sad part is, you end up worried, because you don’t have to pay your credit card and spend money on other important needs.

For example, you saw a friend of yours sporting a brand new PSP. You will be prone to be jealous of your friend’s new toy. Even if you are not into video games and you just found it cool, you will be buying that thing even if you barely have enough spending money or you have unpaid credit card bills.

In the end, you have a barely used PSP console lying around in your home and a lot of worries where to get the money you need to spend. A quick fix will be to borrow some money from a friend to pay for some bills and other expenses until the next payday, until you find another thing that you want to buy – again. Impulse buying is a sick cycle.

Self-Discipline: the Key to Impulse Buying

Nobody else is to blame when you make an unplanned purchase but yourself. Sure you can blame the shops you pass by for “exploiting” your weakness, but they are just doing their job to sell their merchandise.

If you really want to get rid of impulse buying, the only key there is having self-discipline. It is quite hard to do, but with a little extra effort, you can overcome that itch to buy something new.

You should also have a firm grasp of your needs. Through proper self discipline, you can train yourself to prioritize your needs over your list of wants.

Cooling Down: Getting Rid of the Impulse Buy Itch

Since impulse buying makes you buy without thinking, whenever you feel the need to buy something, make an extra effort to let a few days or weeks pass, depending on the cost of the item, before you go for it. The bigger the cost, the longer the cooling down period should be.

When you let the impulse buy cool off, sometimes, you will even forget that you wanted to buy that cool gizmo or cute dress you saw in the mall. However, if you don’t forget it, here are some things you should do while cooling down:

• Ask yourself “Do I WANT or do I NEED it?”. A want is something not so important and you can live without it while a need is an important thing to you. If it simply is a “WANT” then you can delay it as long as you can.
• Do you have enough money? Well, you may have enough money to make the purchase, but do you have enough money to last you until the next pay day for everything else you need?
• Search for alternatives. If you have enough money or you really need the item, cooling down will help you find other alternatives or at least a store that will sell it to you at a cheaper price. If you saw that thing in a mall, try checking the Internet or some thrift shops. They most likely sell the same item at a lower price. Check other malls or stores as well.

Something for Something: Use A Deterrent

It is quite difficult to buy something knowing you will have to give up another thing in return. If you really find it difficult to control the urge for something new, then you must stick to something for something.

This means that if you will be buying a new gadget, for example, you need to sell or give away something you already have before you buy that gadget. You can give up your MP3 player or the shades you bought last month on eBay before you buy those spanking new rubber shoes.

Doing that will help you decide if you really need to buy something. Selling the item will take some time, and in turn, will let you think if buying it is really worth it.

One Last Tip…

If you have been an impulse buyer for quite some time now and you are somehow burried in debt, here are some tips:

• Every payday, automatically subtract money that goes to savings. Make it a reasonable amount that you will stick to for a long time.
• Subtract also the amount that you have to pay for bills and other daily expenses.
• If there is any money left, put it aside or emergency money or add it in to savings.
• Make an extra effort not to buy something new.
• Prioritize your goals over your wants.
• Budget your funds properly.

Avoiding Temptation

It will be impossible for you to buy something if you don’t have the money (or credit) for it. So if you can’t control yourself, let someone else control you, in some way.

If you own a credit card, or a couple of them, a good idea is to let a trusted friend keep it from you until you have paid your debts. You can also make that friend of yours a personal bank where you can keep your money with him or her and only give you enough spending money when you request it.

At the same time, you should avoid going to malls, checking out favorite websites, or just about anything that will tempt you to buy something you really don’t need.