By Sabrina Karl

We’ve all been there. We walk in the house with a new purchase that, a few hours earlier, we had no idea we’d be making. Or we get tempted online to add an item to our cart and, before we know it, we’ve hit “Submit order”.

Impulse buys can inflict major harm on your financial health, diverting money from more productive goals that have long-lasting benefits, such as reducing your debt, saving, and investing.

Fortunately, there are many tactics for reducing your impulse buying. For instance, simply avoid going to stores and sites you know will tempt you. To make this easier, unsubscribe from retail newsletters and unfollow tempting brands on social media.

Also aim to shop under the right circumstances. For instance, shop when you have a specific need and make a list to stick to. Avoid shopping for entertainment, and avoid the idea of “shopping therapy” to deal with upset emotions.

You can also challenge yourself to a no-spending period. Making a game out of only buying essentials until some finish line can be effective. Alternatively, set a monthly budget limit for impulse purchases, ensuring you never spend more than a certain dollar amount on unplanned items.

Despite your best efforts, in-the-moment temptation can still occur. One effective tactic is always forcing yourself to pause and ask “Do I really need this?”. Another strategy is to impose a waiting period of a day, a week, or a month (the bigger the purchase, the longer the duration) before you can buy the item, during which time you may realize you don’t need it.

Lastly, it’s always useful to remind yourself of bigger goals. When tempted with unplanned spending, think about what you want for yourself longer term and how this purchase sets you back instead of moves you forward.