We are all Impulse Shoppers. All of us. 3 solutions to break the habit.

We are all Impulse Shoppers. All of us.

Many men and women say they’re not. But, let’s face it, we’ve all been to the supermarket to buy a pint of milk and returned home with chocolates, socks and whatever it is that’s on ‘special offer’ that day.

An impulse purchase or impulse buying is an unplanned decision to buy a product or service, made just before a purchase. Someone who tends to make such purchases is referred to as an impulse purchaser or impulse buyer.

“I don’t see myself as an impulse shopper, but I probably am. I think I’m financially secure, but in reality I’m probably not” my friend Lucy text me this last week.

The temptation to impulse shop and “buy stuff we don’t want, we don’t need and that we probably can’t afford” is absolutely everywhere…

  • BOGOFF’s – Buy One Get One For Free.
  • Buy 3 for the price of 2
  • Buy 1 and get the 2nd half price
  • Half price for the next 3 days
  • 60% sale ends tomorrow
  • Last chance to buy

We all get sucked in.

– Shops, stores and supermarkets know that people – all of us – derive an enormous amount of pleasure from acquiring something brand new.

– Retailers know that we – all of us – are very susceptible to the loss aversion switch. Loss aversion is our innate concern to avoid feeling bad in the future.

The Loss Aversion Switch and FOMO. Normally when we think about buying something big or small we tend to procrastinate and think “If I buy this (for example, these shiny new shoes) I might not have the spare money to buy….(the kids new school shoes, pay the electricity bill and so on and so on)”. BUT when shops, stores and supermarkets add in a discount or a special offer we are told – or more to the point, we assume – that the discount or a special offer won’t last forever and so our unconscious mind/focus switches to the fear that we’ll miss out on the deal. Fear Of Missing Out (FOMO).

So, what’s the answer?
How do we quit impulse shopping?
How do we break the habit?
What are the solutions?
How do we break the cycle?

I didn’t buy anything new or second-hand in 2014 and saved $52,680 in 12 months. It started as a lifestyle experiment but it changed my life so I kept on going. I now help professional men and women – people like you – and entire communities quit impulse shopping and live a happy, cash rich and financially secure life through my Underspent book, programs, weekly blog (Tuesdays) and weekly Facebook Live videos (Tuesday nights).

Here are 3 simple solutions to break the habit that worked for me.

1. Write a ‘Passion List’
Answer these questions: What do I love doing? What brings me happiness? What makes me smile? What could I do all day? What are my favourite weekend activities? What don’t I enjoy? Write all your answers on your ‘passion list’. Then, spend your time and money on the things you love doing and on the things that make you feel alive, full of energy and bursting with enthusiasm.

2. Lock away your credit card
I stopped using my credit and debit cards. I locked both of my cards in a drawer (for emergency purposes only) and carried cash instead.

3. Get a Waiting List.
I write down what I think I want to buy on a ‘three-month waiting list’. I keep my ‘Want List’ in the notes section on my iPhone. I write down the date, a description of the thing I ‘want’, the price and why I want it. If I still want and need said item when the 90 days have passed, I buy it. Nine times out of ten, however, I no longer want or need it. 99% of the time I think “Why did I even write that down?” If 3 months is too long for you, try 7 or 14 days.

7 minute VIDEO – We are all Impulse Shoppers. All of us. 3 solutions to break the habit: Write your ‘Passion List’, lock away your credit card and get a ‘Want List’

What to do next?
STEP 1 – Be part of the 30 days of FREE Money Savings Top Tips. Join the next 30 days of FREE Money Savings Top Tips starting on Wednesday 1st November. There are two ways to be involved.
1. Do It Yourself – Like the Underspent Facebook page and follow along each day or follow the #30daysofMoneySavingTips hashtag on Twitter, Linkedin or Instagram OR
2. Do It With Me – Email me Rachel(at)cyclingrachelsmith(dot)com I will send you an email containing a top tip every day for 30 days from Wednesday 1st November through to Thursday 30th November 2017

STEP 2 – Buy the Underspent book
Buy the Underspent book, $2.99 or $12.95 available in paperback, e-book, iBook and Kindle formats from all online bookstores and most Dymocks and QBD bookstores as well as Folio Books in Mary Street, Brisbane CBD. Buy a signed paperback copy direct from me via http://www.cyclingrachelsmith.com/buy-the-underspent-book/

** BULK BUY SPECIAL OFFER ** During October and November 2017 purchase 500 OR 1,000 signed paperback copies of Underspent at discounted rates. The perfect corporate or workplace Christmas gift. Phone or email me for more details