November 26th, 2010

Tricks to Avoid Impulse Buys

The Holiday season is upon us and you are mostly likely you are feeling the pressure to accommodate the demands that come with the season. Well this is the time to treat your wallet with respect so you wont have that “What was I thinking?” conversation with yourself after the holidays have ended.

Saving money is essential, but we also need to have a plan of attack before the shopping starts. Since today is Black Friday, people are most likely in the stores racking up as you read this. Although there will be plenty of marked dow products, we have to really think about the neccisity of the purchase.

Below are some tips I found on Shine from Yahoo that have helped me stay focused, hopefully they will guide you as well.

Stick to Your List

When you narrow your options, you simplify the decision making process. Making a shopping list – and sticking to it – can be one of the best ways to avoid impulse shopping. And be specific: Instead of considering all 200 winter coats in the department store, zero in on the few that meet your needs and fall within your budget. Otherwise, you may be tempted to spend more than  you should.

Get Some Air

Give yourself at least 10 to 15 minutes to disassociate your mind from whatever it is you’re considering purchasing, whether you’re shopping online or in a store. Put the item in your shopping basket online, or leave it at the sales counter while you take a lap around the mall. Without a sense of urgency or the pressure to buy, you can make a more rational decision.

Be Critical

Before you pull out your wallet, ask, “What are the trade-offs?” If you have ample cash in the bank, then you can afford the purchase. But what if buying a new laptop is the difference between going to the Bahamas for spring break or a staycation?

Phone a Friend

For big-ticket items, it sometimes helps to grab a second opinion. (And no, the salesperson’s doesn’t count.) You want to ask someone who understands your goals and can give you honest advice on whether that new sofa is worth the $1,200 price tag.

Use Cash

Using cash, rather than a credit card, may seem more painful. But if you can’t afford to pay cash, you might not be able to afford your new splurge, period. Actually watching our funds shrinking can be the very wake-up call we need to beat the impulse buy.

No matter the tips you must become disciplined in all your spending habits. Never let the excitement of the holidays or others expectations spend your hard earned cash. Financial health starts with responsibility and responsibility starts with the mind.

About the Author

Corey Phillips
Born and raised in Queens, NY, Corey is a working finance professional in Indianapolis, IN. A graduate of the University of South Carolina, Corey obtained a dual degree in Finance and Management. In addition to his corporate career, Corey possesses a passion for helping others realize their potential and authority.



Find the Value: Take Advantage of Your Possessions

To kick-off the new year, I sat down and chatted with online shopping expert, Michelle Madhok. Michelle took the time out to offer us some key details of how to value items we already have. In addition to being founder of SheFi...
by DeAndra Harrison


How Do Small Collection Accounts Impact Your Credit Score?

Fortunately, there is one recent change to the world of credit scoring concerning small debts, which are sometimes called “nuisance” collection accounts. Fair Isaac, creator of the FICO score, has rolled out to all three cr...
by Socialtik Mag


Creating a Personal Finance Statement

If you own a small business or are self-employed, this guide will help you track income and expenses on a regular basis. Entrepreneurs tend to create personal financial statements for one of two reasons. Either they love number...
by DeAndra Harrison



Fall Style: Jeffrey Campbell Shoes

Vintage inspired, runway-trending shoes by Los Angeles based designer Jeffrey Campbell, are this season’s must-have style pick. The family owned shoe line has been around for 10 years. It credits it’s inspiration to...
by Genel Ambrose


Is Marketing a Money Drain or Money Fountain?

Marketing is an essential part of running a business, often overlooked or poorly implemented due to busy-ness of the Owner, this gets looked upon as money draining out of the business. On the other hand, if done right and imple...
by DeAndra Harrison



  1. Those look great! So happy I already signed up! Can’t wait.

  2. great! this site is so far I feel best, this site has a lot of interesting content, it is worth a visit

  3. appropriately why acceding one’ss dreams amount a aloof exit? harder by all, who doesn’st crave to set about a admirable lath their own?

  4. There is no way that we could have been wanting to deal with something that is actually not that advisable because we pretty much need to save.

  5. I am proud to see such a good article, I wait for another article more interesting to read. Way cool! Some extremely valid points! I appreciate you writing this article plus the rest of the website is really good. I really loved the article. It proved to be very useful to me

  6. Using cash, rather than a credit card, may seem more painful. But if you can’t afford to pay cash, you might not be able to afford your new splurge, period. Actually watching our funds shrinking can be the very wake-up call we need to beat the impulse buy.

Leave a Reply

Your email address will not be published. Required fields are marked *

Twitter Users
Enter your personal information in the form or sign in with your Twitter account by clicking the button below.

thru 9/26 - Fall Sale. 30% Off select styles. Disc