Clark County Credit Union (Las Vegas, NV)

Say Goodbye to Impulse Buying, and Put Money into Your Savings Account With These Tips

From the candy bar strategically placed in the check-out line to the shoes with a sale price too good to pass up, retailers know how to entice us to buy things we don’t really need. Although we all fall into the trap once in a while, frequent impulse buying can put a major dent in your monthly budget and make it harder to put money into your savings account. These five smart tips will help you stick to a budget and resist the urge to spend your hard-earned money on impulse purchases.

How to Avoid Impulse Buying, and Put Money into Your Savings Account

Make a List, and Stick to It

This is probably the most important piece of advice you can follow. Before you leave your house, make a list of everything you need to buy, and commit to purchasing only items on the list. This takes the guess-work out of deciding whether to buy something in the heat of the moment. If it’s not on the list, put it back.

  1. Pay for Your Purchases With Cash

    Avoid using credit and debit cards and pay with cash instead. Only bringing enough money to pay for what you need eliminates the option to add extra items. If you carry a credit card for emergencies, leave it in your car while you shop, so you won’t be tempted to use it.

  2. Think Through Each Purchase

    Before putting anything in your shopping cart, think through the purchase. Do you really need the item? Do you already have something similar at home? Does the benefit of buying the item outweigh the potential financial consequences?

    If what you’re considering buying isn’t on your shopping list, decide if you can wait a day or two ,and put it on a list for future purchases. Getting into this habit gives you the chance to think things through even further and ensure you make smart decisions.

  3. Comparison Shop Online

    When you’ve found something you really want, take a picture of the item and price tag, then, go home and comparison shop online. This gives you a chance to read reviews, search for the best price, and figure out how long it will take you to save enough money to pay for it.

  4. Plan for the Occasional Splurge

    We can’t be perfect all the time, so plan to give yourself some wiggle-room once in a while. If you have enough money left over after paying your bills and putting some money into your savings account, go ahead and splurge on something fun.

    Set a budget and time frame – for example, $50 once a month – and enjoy a guilt-free indulgence. Factoring this spending amount into your budget can help you control your impulses.

Take Control of Your Financial Future

Once you get your spending on track, it’s time to start focusing on other goals. Whether you want to eliminate debt, set up an emergency savings account, or prepare to buy your first home, our Banzai programs provide you with all the resources you need. For more information, contact Clark County Credit Union at 702-228-2228 today.

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