Questions To Consider Before You Make That Purchase
so you can reduce impulse spending and buyer's remorse
According to a 2018 statistic, consumers spend an average of $5,400 per year on impulse buys of food, clothing, household items, and shoes. These impulse purchases can leave us with a few extra pounds, buried in clutter, and drowning in debt and approximately 8 in 10 people experience buyer’s remorse. In this short post, I am going to give you 15 things to think about when deciding to make a purchase to help you reduce impulse buys and avoid potential regret and frustration.
1. Why am I here? You can get a little deep with this question! In a less philosophical sense, the question is asking why did I decide to visit this store (online or offline)?
2. How do I feel? Am I bored, sad, angry, happy, annoyed, worried, etc. Impulse buying can be a lot like emotional eating. Am I using shopping to feel better?
3. Do I need this? Did I already have this specific item in mind when I went to the store (online or offline)?
4. Do I already own something that serves the same purpose?
5. Would I actually use this right away or will it sit around and I will forget about it?
6. How often will I use this? Could I borrow this item instead?
7. What if I wait? What if I put this item on my wishlist and see how I feel about it in 30 days?
8. What would happen if I didn’t buy this item?
9. Would I rather have this item or the cash instead?
10. Will this item improve my life enough to justify the cost?
11. How will I pay for this? Can I really afford this?
12. Do I really want this? If yes, why do I really want this? Am I buying this because I think I “should” have it or because I want to impress someone?
13. Would I pay double for this?
14. Where will I put this (do I have the physical space)?
15. Would I buy this all over again? Would I replace this item if it gets broken or lost?
I would love to know which of these questions made you pause and think the most?
You may find if you honestly answer these questions that you actually need and want less “stuff” and can give your budget a boost!