Top tips to stop impulse buying at Christmas (and all year round)
Christmas is here and so is the shopping madness. In fact, 23 December is the busiest shopping day of the year, with stores like Aldi and Tesco teeming with last-minute shoppers.
And don’t these supermarkets know just how to milk it, lining their aisles with all kinds of tempting festive goodies.
Before you toss another unnecessary item into your trolley, take a second to think, do you really need that flashing Rudolph door knocker or are you just falling for a retailer trap to get you to overspend?
With all those special deals and holiday-themed displays, it’s easy to let your trolley overflow, adding £20-£30 more to your bill without even realising it.
What exactly is an impulse buy?
An impulse buy is an item that isn’t essential and that you didn’t plan on buying.
If you have a tendency to make these spur-of-the-moment purchases, you’re not alone.
Some 78% of UK adults admit they’ve fallen for impulse buys, according to a survey by Finder. Some of us even go as far as to buy things on a whim every single day. In total, the UK spends a staggering £1.06bn a year on impulse buys.
Why do we impulse buy?
It’s not just about wanting stuff, as there’s plenty of psychology at play. Here’s a few reasons why we give in:
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Instant gratification: the dopamine hit from buying something new feels pretty good in the moment, even if you regret it later.
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Novelty: sometimes, it’s not about the item, it’s just the thrill of getting something new.
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The deal effect: as we’re suckers for a bargain, if something’s marked down, we’re more likely to snatch it up.
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FOMO (fear of missing out): the thought that everyone else might be having a better time, buying something fun, or getting a deal that you’re not part of can drive you to act fast.
Tips to stop impulse buying
Luckily, there’s plenty of ways you can beat the urge to make an impulse purchase.
Make a list and stick to it
Whether you’re in-store or online, make a shopping list and don’t stray from it. If it’s not on the list, it’s not going in your trolley. Simple!
Set a limit (and don’t exceed it)
Set your spending limit before you even step foot in a shop. It’s also a good idea to leave your credit and debit cards at home and just take the cash you’re willing to spend. When the money’s gone, you’re done.
Tread especially carefully online
With one-click shopping, it’s all too easy to impulse buy. If you're online shopping, take a moment to rethink each purchase before clicking ‘buy now.’
Think about blocking shopping sites from your phone altogether, or, at the very least, removing one-click shopping.
Sleep on it
See something shiny you just have to have? Before you make the purchase, sleep on it.
Will it still seem like a must-have tomorrow morning, or will it be something you’re glad you didn’t buy?
Open a savings account
For every £10 or £20 you don’t spend on an impulse buy, put it in a savings account. Suddenly, you’re building a rainy-day fund and feeling pretty happy about those avoided purchases.
Have a goal in mind
Saving for a big holiday or a new car? When you have clear financial goals, it’s a lot easier to resist temptation.
That new pair of boots just won’t be worth it when you’ve got your eye on a bigger prize.
Avoid triggers
Feeling tired, bored, or restless? Unfortunately, they’re prime times for impulse buying. Instead of opening Amazon or hitting the nearest department store, pick up a book, go for a walk, or bake a cake to take your mind off shopping.
Shop with someone (but not a shopaholic)
If you’ve got a friend who’s just as prone to impulse buys as you are, maybe sit the shopping trip out together. But if you’re shopping with someone who’s good at sticking to the list, even better! A trusted partner can help you stay on track and keep you from loading up your trolley with things you don’t need.
Gabrielle Pickard Whitehead
Gabrielle is an experienced journalist, who has been writing about personal finance and the economy for over 17 years. She specialises in social and economic equality, welfare and government policy, with a strong focus on helping readers stay informed about the most important issues affecting financial security.
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