5 Reasons we’re Prone to Impulsive Buying

What is impulsive buying? Simply said, it’s an unplanned purchase of a product or service. According to the BusinessDictionary.com, such purchases “ranges from small (chocolate, clothing, magazines) to substantially large (jewelry, vehicle, work of art)…”

Hence, one of the many reasons why people gain bad debt is because of impulsive buying. It’s an easy trap for anyone – especially when you own credit cards. Isn’t it always so easy to just “live in the moment” and buy whatever want because we know we can pay for it later? Or with a swipe of your ATM card’s personal savings or your emergency fund – it’s so easy to think you can “earn it back later.” True enough, there are different motivations as to why people buy things impulsively, which, sadly, contribute to their growing debt.

Before I teach you how to dampen your urges for impulsive purchases, it’s best to understand the whys and wherefores as to why we fall into these traps.

Reasons why we easily fall into the impulsive buying trap

You will find it hard to solve the problem if you don’t know what the problem is exactly. Other people can be in denial when it comes to this because it’s so easy to ignore because of the immediate results that impulsive buying gives the buyer. Even if you think that you have the money to spend, it doesn’t justify buying something whenever you want is.

1) Your history. Other than the fact that you’ve reasonably got the money to just shop whenever you want, you may be prone to impulsive buying because it’s how you were raised. It can be because you’ve had a tough time growing up that you need to reward yourself with these impulsive purchases as a way to make up for the financial hardships you’ve had when you were a kid. If, you have grown up as a child who always got what he or she wanted, then you might not even notice that you have this problem.

2) Retail therapy. You can also people like these as “emotional shoppers”. They take to buying stuff whenever they are down or depressed to make themselves feel better. Whenever they are going through a rough patch in their lives, they’re the ones who immediately go to the nearest mall and turn window shopping into a full-blown shopping spree.

3) Loss Aversion Switch. Do you ever feel like you’re going to “miss out” on something if you don’t buy it? The media loves to make us feel this way, as if we are going to lose an amazing opportunity if we don’t grab the Buy-1-Take-1 offer. The sellers focus on the lacking or loss you will feel when you don’t buy the goods or services when you’re only supposed to be concerned as to whether it fits in your budget or if you really need the product in the first place.

4) Laziness. Have you ever purchased something because it’s something that you always buy? Without you knowing, you might be missing out on better products or services just because you can’t be bothered to do a little research or you’re too hesitant to take risks when it comes to exploring less costly goods. Sometimes, you also think that what you’re used to is always the best option, when the truth is, it’s not. Change can be good too.

5) Materialism. The need to taste grandeur is all over advertisements and the media. It has become a well-known perception that buying high-end objects could add points to one’s social status, when truthfully, it isn’t true – especially when buying these branded merchandise results in debt and other financial problems.

Kick impulsive buying impulses to the curb!

Now that you’re aware of these triggers, it’s time to start applying simple changes in your life to make sure you don’t constantly fall into the bad habit. Sometimes, it’s not enough to just count 1-10 or recite the alphabet backwards. Below are a few tips that can help you steer clear of this seemingly growing addiction:

• Limit your trips to the mall. Sometimes you really have to go, but sometimes, you don’t really have to. Resist the call of retail stores, resist the call of a new pair of everything! The first thing you have to remember when it comes to getting rid of addictions is that you have to avoid exposure to the things that activate your triggers.

• Beware online shopping. Quit this entirely, if you may. Knowing that your credit card info is ready to do the purchasing for you, everything is exceedingly easier to buy online knowing you only have to click, click, click! So yes, you have to erase the online shops from your bookmarks tab and avoid spending your free time going through sites that only make you think you need them when you really don’t.

• Create your Need List. If it helps, you can even write down why you need it. This will help you distinguish the things you need from the things you want. Doing so will help you plan your purchases in advance. Make sure that these are in line with your budget!

• Don’t trust your credit card skills. If you always think you can pay it off later, or if you’re starting to think you’re willing to pay your monthly bill for years just to pay off your credit card debt, then you know that you are NOT to be trusted with your little plastic card of easy cash. Leave your card at home, cut some in half, and stop using your credit for things you don’t really need!

There are so many other things you can do in order to stop yourself from falling deeper into debt. It all takes one small step for you to decide that buying things isn’t the answer to all your problems or your emotional hang-ups. Believe that you can overcome this roadblock to your financial success!

It’s never too late to change!

If you’re looking at your debt and you’re ready to make that specific change in your life to make it better, it’s time to resort to the most reputable debt relief companies in the country – Financial Rescue LLC! We will help you settle your debts with our debt settlement programs. We’ve got an expert team of negotiators who will take charge of negotiating with creditors to substantially lower your debt amount. That’s definitely more than enough reason to believe that getting out of debt is more than possible. If you’re interested in settling your debt soon and living a better, worry-free life, call 1-877-97-DEBTS now! You can also visit our website at financialrescuellc.com for more info and more FRLLC testimonials.