How many times have you gone into a place like Target with only a few things on your list and left dropping over a hundred dollars on stuff you didn't plan on buying? If you're like me, it happens more often than you'd like to admit.
I love Target - but that store is particularly skilled when it comes to their marketing efforts and getting me to part with more money that I planned on! It's where we buy our diapers (love me the store brand) and that alone keeps me coming back for more!
On the other hand, impulse purchases can be a big budget buster though. And when it comes to accomplishing financial goals, keeping your budget in check is imperative. Here are three strategies to keep impulse purchases at bay and your budget in check while out shopping in person or online.
Having a grocery list is one of the best ways to avoid impulse purchases on the way out. Subscribe to the mentality that if it's not on the list, it doesn't make it into the cart! If it's something that you actually need (but forgot to add to the list), have a contingency plan. Maybe you give yourself a two item or $10 buffer for this category. Or just simply start a new list for your next trip and add this item to the top.
If it's habit for you to pick up a few items from the end cap (and you're not using a list/sticking to the first tip), practice looking away. We all know that the end caps (the shelves that are positioned with products to be seen as you walk through the aisle) are prime shelf space for retailers and typically house products that they're itching for you to buy. If it's not something you really need, put it back. If it's still on your mind a day or so after you leave the store, consider adding it to your cart on your next trip. Hopefully it's just a "want," not a "need" and the physical distance and time passing will quench your thirst for it!
This is one of my favorite strategies for online shopping. If you're searching for something specific on Amazon, for example, it can be easy to see other things that you might like to purchase. Again, if it's something you don't "need," but rather "want," try placing it in the e-cart overnight and think about it. Odds are the novelty will wear off overnight and the purchase won't look as appetizing in the light of day. If it still does and you've waited 24 hours, then by all means make the buy. If you're still overspending and busting your budget, you might have to lengthen the time period to a week for your online cart!
If you find that you're spending more than you planned online or in the the store and it's keeping you from achieving your financial goals, start by going with a list and not purchasing anything that's not on it. Practice looking away when "wants" catch your eye from the end caps and place said item in your mental or e-cart instead. After some time has passed, hopefully you'll have found that the desire for said product has waned as well. Consider implementing these three tips to change your habits and maintain more money in your pocket. Impulse purchases do in fact bust many budgets - start protecting yours today!
What store always sucks you into spending more than you planned?
29 Ways You Waste Cash
29. Impulse Buys(01 of29)
Open Image ModalWho doesn't know that impulse purchases are a bad idea? I've even realized it was a bad idea as I was doing it. So here are three quick tips: 1. Make a shopping list. Take it with you and stick to it. 2. Eat beforehand. An empty stomach can doom the most prepared shopper, especially at the supermarket. 3. Shop alone. Bringing children (or a significant other who acts like a child) is a sure way to fill your cart with impulse buys. (credit:<a href="http://www.flickr.com/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="94" data-vars-position-in-unit="94">Flickr:</a><a href="http://www.flickr.com/people/lrargerich/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" lrargerich" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/lrargerich/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="95" data-vars-position-in-unit="95"> lrargerich</a>)
28. Buying Online Without Comparison Shopping(02 of29)
Open Image ModalWhen you shop online, there are hundreds of sites competing for your business. Buy those shoes at the first site you go to and you may be wasting money. Compare the purchase and shipping price at three or more sites before you buy anything. (credit:<a href="http://www.flickr.com/" target="_blank" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="92" data-vars-position-in-unit="92">Flickr:</a><a href="http://www.flickr.com/people/theogeo/" target="_blank" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" theogeo" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/theogeo/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="93" data-vars-position-in-unit="93"> theogeo</a>)
27. Paying For Protection You Don't Need(03 of29)
Open Image Modal26. Being Disorganized(04 of29)
Open Image ModalBeing disorganized about your finances leads to costly late payment fees and overdraft charges. You can easily rack up hundreds in fees. For example, even a single $25 late fee per month will cost $300 extra a year. Set up bill reminders and keep your checkbook balanced. (credit:<a href="http://www.flickr.com/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="87" data-vars-position-in-unit="87">Flickr:</a><a href="http://www.flickr.com/people/alismith44/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" aliwest44" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/alismith44/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="88" data-vars-position-in-unit="88"> aliwest44</a>)
25. Expensive Cell Phone Plans(05 of29)
Open Image Modal24. Not Using Coupons(06 of29)
Open Image Modal23. Oil Changes(07 of29)
Open Image ModalCars don't need oil changes as frequently as they used to. If you're getting your oil changed every 3,000 miles, you're probably doing it too often (and wasting money). Follow the recommended mileage in your owner's manual. (credit:<a href="http://www.flickr.com/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="76" data-vars-position-in-unit="76">Flickr:</a><a href="http://www.flickr.com/people/rstinnett/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" robertstinnett" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/rstinnett/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="77" data-vars-position-in-unit="77"> robertstinnett</a>)
22. Premium Fuel(08 of29)
Open Image Modal21. Not Taking Advantage Of A 401(K) Company Match(09 of29)
Open Image ModalMany companies will match an employee's 401(k) contribution up to a certain percent. If you're not contributing enough to meet the maximum match, you're losing out on free money. Ask your HR department for information on your company match. (credit:<a href="http://www.flickr.com/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="71" data-vars-position-in-unit="71">Flickr:</a><a href="http://www.flickr.com/people/urban_data/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" urban_data" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/urban_data/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="72" data-vars-position-in-unit="72"> urban_data</a>)
20. Bill Pay Convenience Fees(10 of29)
Open Image ModalSome online or over-the-phone bill payment services come with fees. For example, my electric company charges $2.95 to pay online through their website. Instead, I use free bill pay through my bank. I still get to pay online, but I skip the fee and save $35.40 a year. (credit:<a href="http://www.flickr.com/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="69" data-vars-position-in-unit="69">Flickr:</a><a href="http://www.flickr.com/people/kalleboo/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" kalleboo" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/kalleboo/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="70" data-vars-position-in-unit="70"> kalleboo</a>)
19. Hotel Fees(11 of29)
Open Image Modal18. Paying For Services You Don't Use(12 of29)
Open Image ModalAutomatic withdrawals make us lazy with our money. If you're paying for something each month - like a gym membership, magazine subscription, or streaming service - make sure you use it, or those charges will add up to wasted cash. For example, here are mine:
1. Gym membership - $29.99 per month
2. Netflix subscription - $9.99 per month
3. Popular Mechanics subscription - $1 per month
That's more than $40 a month. I make sure I get my money's worth out of them. (credit:<a href="http://www.flickr.com/" target="_blank" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="64" data-vars-position-in-unit="64">Flickr:</a><a href="http://www.flickr.com/people/asiaticleague/" target="_blank" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" Asiatic League" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/asiaticleague/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="65" data-vars-position-in-unit="65"> Asiatic League</a>)
17. Ignoring Your Insurance(13 of29)
Open Image ModalBecoming complacent about your insurance can cost you money. Stacy recommends shopping around for new insurance once a year - because when premiums drop or new, cheaper policies are available, no one's going to tell you if you don't ask. Check out our insurance comparison tool to shop for a better rate. (credit:<a href="http://www.flickr.com/" target="_blank" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="62" data-vars-position-in-unit="62">Flickr:</a><a href="http://www.flickr.com/people/comedynose/" target="_blank" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" comedy_nose" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/comedynose/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="63" data-vars-position-in-unit="63"> comedy_nose</a>)
16. Wasting Utilities(14 of29)
Open Image ModalGrowing up, I got several lectures on leaving the lights on or keeping the front door open and "air conditioning the entire neighborhood." I didn't care too much then because I didn't pay the bill, but now I'm strict with my electricity usage. The result: My summer utility bills rarely top $100. If you've got lights on in a room you're not sitting in, you're wasting money. (credit:<a href="http://www.flickr.com/" target="_blank" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="60" data-vars-position-in-unit="60">Flickr:</a><a href="http://www.flickr.com/people/emdot/" target="_blank" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" emdot" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/emdot/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="61" data-vars-position-in-unit="61"> emdot</a>)
15. Dining Out(15 of29)
Open Image Modal14. Morning Lattes(16 of29)
Open Image ModalIn my area, a Grande Caramel Macchiato costs $4.55. Buy one every weekday and you'll spend $22.75 a week, $91 a month, and $1,092 a year. By comparison, a 16 ounce bag of coffee costs me $5.99 and I can make about 82 cups per bag. That is 7 cents per cup, a savings of $4.48 a day. Make your coffee at home and skip the fancy coffee-house drinks. (credit:<a href="http://www.flickr.com/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name="Flickr:" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="55" data-vars-position-in-unit="55">Flickr:</a><a href="http://www.flickr.com/people/kansirnet/" role="link" rel="nofollow" class=" js-entry-link cet-external-link" data-vars-item-name=" Kansir" data-vars-item-type="text" data-vars-unit-name="5b9e6089e4b03a1dcc9690ec" data-vars-unit-type="buzz_body" data-vars-target-content-id="http://www.flickr.com/people/kansirnet/" data-vars-target-content-type="url" data-vars-type="web_external_link" data-vars-subunit-name="before_you_go_slideshow" data-vars-subunit-type="component" data-vars-position-in-subunit="56" data-vars-position-in-unit="56"> Kansir</a>)
13. Buying Software(17 of29)
Open Image Modal12. Long-Distance Calls(18 of29)
Open Image Modal11. Baggage On Airlines(19 of29)
Open Image Modal10. Full-Priced College Degrees(20 of29)
Open Image Modal9. Credit Reports(21 of29)
Open Image Modal8. Buying Books(22 of29)
Open Image Modal7. Brand Names(23 of29)
Open Image Modal6. 411 Calls(24 of29)
Open Image Modal5. ATM Fees(25 of29)
Open Image Modal4. Credit Card Interest(26 of29)
Open Image Modal3. Bottled Water(27 of29)
Open Image Modal2. Checking Accounts(28 of29)
Open Image Modal1. Cable TV(29 of29)
Open Image Modal