Impulse purchases, How to avoid impulse buying

How To Avoid Impulse Buying If Even Out Of Drunkenness

“How to avoid impulse buying”
According to a recent SoFi study, online impulsive buying rose during the pandemic, which may not come as a surprise to some. You have the ideal recipe for impulsive purchases of anything from electronics to clothing when you combine the extra spending money from stimulus cheques, with hours spent in front of computers or mobile devices. Between March 2021 and March 2022, SoFi interviewed more than 1,000 Americans who stated they purchase online at least once a week and evaluated social listening data from 30,000+ Twitter postings. Some practices that may not be the best for people’s long-term financial plans were shown by the research.

For instance, the study found that 56% of internet purchases were made on a whim, and 63% of millennials said that their purchases weren’t carefully thought out. What are the main reasons for impulsive buying? Using social media while drinking! According to the report, 74% of consumers made a purchase after seeing it on social media. This figure increased from 40% in 2017, demonstrating the growing impact of social media on purchasing decisions, including advertising, brand-generated content, and posts from family and friends.

Men are significantly more likely than women to make purchases based on social media, with 78% of men and 70% of women reporting doing so, respectively. Everyone is aware of the significant impact social media has on people’s buying patterns, so it was startling to learn that males are even more likely than women to make a purchase after seeing it on social media. We may also be aware of the fact that many individuals make purchases after viewing them on social media, but the figure of almost 75 percent is still astonishing.

According to the study, alcohol unexpectedly contributed to impulsive spending, with 60% of men and 40% of women confessing to shopping online “when not entirely sober.” Men may be more inclined to click “add to cart” after a few drinks, despite the “mommy-wine” culture that predominates on social media. It’s likely that, as observed, men were simply more eager to acknowledge their practices. Read also Practical Ways To Cut-Off Impulsive Shopping And Save Your Money Right

How To Avoid Impulse Buying Even While Intoxicated

The most popular items bought while intoxicated were clothes, electronics, and games, as well as furniture and home decor. When the subject of “drunk shopping” was discussed on Twitter and a specific website or store was referenced, Amazon was mentioned 83% of the time. The act of forgetting what you bought on Amazon when the shipment arrives, known as “prime-nesia,” is real and can, it would appear, be triggered by a few nightcaps.

Lamps, blenders, and explicit goods given to previous employers and coworkers have all been purchased while intoxicated by the people who were interviewed. Because the prefrontal cortex, which is the region of the brains that processes thoughts, is less capable when we are intoxicated, it can be risky to shop while intoxicated because it frequently lacks boundaries and hinders logical, rational decision-making. Shopping while inebriated might result in major debt issues. Read also 5 Essential Items You Should Always Buy At Costco To Save Money

Steps To Stop Impulsive Shopping, And Even When You’re Drunk

However, impulsive purchases aren’t necessarily bad. “I was bored out of my mind in December 2019 — no drinking involved — and got a $70 leather working tool kit from Amazon at like 2 AM as a Christmas present to myself,” the person who was interviewed said. I had always wanted to give it a try.

While making impulsive purchases might occasionally pay off, if you’re trying to save money as the holidays get closer, the advice on how to avoid impulse buying provided below by financial experts can be useful. Read also 5 Strategies To Save Money By Reduced Cable Bills(Save Money After Cutting The Cord)

Steps To Stop Impulsive Shopping

1. Make It More Difficult To Purchase

The design of websites like Amazon and others encourages consumers to make impulse purchases. Don’t store your payment information online by configuring Amazon’s “One-click” option and preserving your credit card information if you want to know how to avoid impulse buying when you’re drunk.

Hide any payment cards or log out of apps that you use to online shop. The extra step of signing in when intoxicated might make it harder to impulse shop. Likewise, that act of needing to locate your credit card and enter the account number plus CCV code could persuade you to think twice about making the transaction. After all, if you’re not sober enough to enter the digits accurately, you probably shouldn’t be trusted to make a good buying decision. That’s a best step on how to avoid impulse buying when you’re drunk. Read also 4 Important Steps To Take Right Now To Cut Down Debt And Secure Your Financial Future

2. Use a Prepaid Debit Card For All Online Buying

If you appreciate the ease of having your payment information kept and normally make prudent selections, you may consider using a prepaid debit card for your online purchases to prevent overspending, experts advise. All of your credit cards should be deleted from the apps. Decide on a monthly spending limit and load that much money onto a prepaid debit card. You have to wait until the next month after that card has been used. This should be your approach on how to avoid impulse buying. Read also How To Evaluate The Performance Of Your Budget In Simple Steps

3. You May “Add To Cart”

You can frequently get the same “high” from adding something to your cart as from purchasing it. Make it a rule that the sale can’t be closed for 24 hours. You might then conclude you don’t actually need the thing. And if you decide to finish the transaction, you can get a bonus for holding out. To finalize the sale, the company might offer you a coupon. Read also 5 Expert-Approved Ways To Save Money On Food Whiles On Social Security

4. Look For Additional Dopamine Hits

In the end, when we make impulsive purchases, we do it to release dopamine, a neurotransmitter associated with pleasure. This is why placing an item in your shopping cart could cause the same chemical release. If, however, adding an item to your cart isn’t satisfying you, you can look for less expensive and perhaps healthier alternatives to release dopamine.

The same system that causes you to seek sweet and savory foods also causes our brains to become addicted to quick dopamine spikes, which is how impulse purchasing works. Impulsive spending can also give someone a false sense of power; you get to choose to have a purposefully upbeat moment each day.

Regular “dopamine hits” should be planned throughout your day, such as drinking coffee from your favorite mug, meeting up with friends, or even finishing a 10-minute workout at your desk. Read also 4 Amazing Financial Stress Relieving Tips To Improve Your Financial Independence

5. Establish a “Hunter’s Mentality”

The best way on how to avoid impulse buying is to adopt a “hunter’s mentality,” as he puts it. Make a list of the things you actually require, then search Amazon for the greatest offers. Knowing what you need makes it simpler to persuade yourself to refrain from wanting what you don’t. Read also 5 Important Good Credit Card Habits To Improve Your Credit Score Daily

6. Avoid Being a Victim of Sales

Numerous strategies are at the disposal of marketers and salesmen to steal your hard-earned money. Spending can be controlled by deciding what you actually need rather than what you want in the moment when faced with social media advertisements.

Regardless of whether it’s on sale, you should need (or want) to purchase the item. In the case of a bicycle, you either need one or you don’t. Find a cheap bike if you do need one. Look for sales, but if a bike is not something you require, it makes no difference if the $1,000 model is now only $800. Read also 7 Smart Things To Do With Your Money Every Now And Then(Very Important)

7. Avoid Falling For Marketing Tricks

“I have a hot tub, which is great at the end of the day. But I regret purchasing it. The salesperson used Some of the oldest tricks in the book to get me to commit to the purchase.” One man explains his experience. The commitment/consistency tactic gets a buyer to commit to a particular stance (such as buying a hot tub) if a requirement is met. The salesman meets that condition, such as a cheaper buying price. Rather to look like a liar to the salesperson, the consumer goes ahead with the purchase. These strategies can be applied both during in-person sales and online in emails or chats. One way on how to avoid impulse buying when you’re drunk is to be sober of marketing tricks. Read also 28 Best Money Habits To Help You Grow Your Bank Account

8. Think About Your Lifestyle Before Buying

Websites may also persuade you to make a purchase by implying that if you buy their products, you can live a certain lifestyle or become the person you want to be. Another individual revealed that he once paid $150 for a pair of hiking boots on sale and later regretted the purchase. One financial expert said “My companion and I were perusing the market last year when we spotted a discount at a nearby shoe store. We made the impulsive decision to go hiking once a month, but it was a bad idea. We just went hiking once, but we cursed ourselves for days afterwards because of cramping. We now consider such shoes to be “white elephants”

He is a financial specialist, though, and won’t repeat his error. “Check whether the item you’re buying is related to your preferred hobbies,” he advises. For instance, books with intriguing titles tend to sell better. However, if reading is not your pleasure, you will probably only read the first couple of pages. Prior to making any purchases, consider your areas of interest and hobbies.

Basically, ignore advertisements that guarantee you’ll change or improve as a person after purchasing their goods. You probably won’t use a thing, whether it’s a book or a bicycle, if it doesn’t fit with your present lifestyle. Read also 10 Must-Read Habits Of Financially Successful People

9. Avoid using social media.

How to avoid impulse buying? Avoid using social media to purchase. Social media may sometimes lead you to think that if you only purchase a particular item, your life will change.

Experts advises folks who discover that social media is having an impact on their expenditures to take a break from it for a while. For a day or two or perhaps a week, temporarily turning off or removing apps can help control some of these cravings. Read also 7 Practical Daily Financial Habits That Will Positively Improve Your Life

10. Does Your “Drunk Shopping” Pose a Problem?

It might not be a problem if you have a history of being readily swayed after a glass (or bottle) of wine. After all, whether we are sober or not, we might need that dopamine rush.

According to our experts, if drunken shopping occurs four or five times a week for more than three months, it’s usually an established practice and should raise red flags on how to avoid impulse buying when you’re drunk.

This period of time enables your therapist to determine if a problem is short-term or situational. In either case, using these advice might encourage you to pause before making an online impulse purchase. Read also The Good News Is That It’s Possible To Raise Your Score Right Now Without Having To Reduce Your Debt! Here Are 5 Best Ways To Boost Your Credit Score Satisfactorily


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By Thomas Goodman

Thomas Goodman is a Degree Holder, a prolific Personal Finance writer and Expert. His work has been recognized by Millions of people round the world and the United States precisely. He has since over a decade, helped people to manage and gain full control over their finances through his adequate and concrete write-ups. His Goal is to inform and educate people worldwide on Personal Finance, Budgeting, Banking and Finance, Career Planning and Savings. He loves to Educate people to attain their financial freedom. Reach out to Him personally on [email protected]

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