Retailers depend upon shoppers that purchase items based upon impulse and emotion. Impulse purchases are considered “consumer choices by instinct.” We must fight forces that may lead us to make decisions not based upon logic. Shoppers that make informed purchases are more likely to keep the item, but they are less likely to spend on other items that may catch their eye as they peruse the merchandise. There are a few techniques that all shoppers could use to avoid making impulse purchases that may lead to overspending. Experts would contend that not all of our purchases are rational. Often, we may have a similar item, but the price is so enticing that we cannot pass up the deal. Or we may be strolling through the mall and something may bring back a moment of nostalgia. We may purchase the item without having the amount readily available in our budgets. This is what experts would call an “irrational purchase” decision. There are a few tips that your local retailer doesn’t want you to know that may keep you from financial ruin. A few are explored below: Be Aware of Your Weaknesses When shoppers are aware of what triggers their irrational spending behavior, they know how to avoid the situations that lead them to want to purchase items impulsively. Once you make a list of the items that trigger your behavior, then you can make more rational decisions when you enter a store. This will help shoppers remain in control of their behavior. Make a list of what you need before leaving the house. Only take enough cash for the items on your list. This will also help shoppers manage their money better. Take a Friend Along Let your friend know of your weakness. Take the friend with you to act as your conscience while shopping for other items. The friend will help you decide if the deal is good enough to make the splurge or if you should just decline and stick to your initial plan. Shopping with a friend may also be more fun for people that are social. Avoid the Companies that Prey on Your Weaknesses If you have a shoe weakness and you need a winter coat, stay out of the shoe department while you are shopping. This can only bring trouble. Many companies also appeal to your weaknesses through advertisements and other marketing campaigns. Avoid making bad purchase decisions that may go along with being led by smart marketing. Floor Displays Can Be Trouble Floor displays are often huge lures to encourage compulsive shoppers to buy. Shoppers should always evaluate the purchase. If you are deliberating about a purchase, ask a sales person to hold it for you. Then, go home and think about how the purchase will affect your budget. Review what you already have in the home and determine if it would substantially improve your life. If so, purchase the item. If not, leave the purchase for later. So, what now? Experts say that when your mind is not under pressure, you can think more rationally about whether you should make a purchase or not. A smart advertisement should not be the primary reason for purchasing an item that we view in a store. The item must be a necessity or an item that would significantly enhance your life beyond something you already have. When shopping exercise these few rules and you will avoid making purchases that your budget may soon regret. Knowing your goals also helps to avoid impulse purchases. If you have a goal to purchase a home or a luxury vehicle and you continue to make small impulse purchases that diminish your down payment fund, then you will never purchase the major item you were striving towards. Always know what is important to you when shopping, and this will keep your finances in order. Shoppers that do this will have more items that significantly improve their lives. How do you save money when shopping? Meet us in the comments and let us know your favorite tip! Photo by antwerpenR Related Articles: Savvy Ways to Save while Shopping How To Save Money On Groceries – 13 Tips 8 Tips To Save Money On Your Christmas Shopping Bing.com Cashback rewards program The Secret to Staying Out of Debt: Control Your Spending The Online Shopper’s Toolkit 5 money saving ideas to help you save Jon is a Christian personal finance writer at Free Money Wisdom . His mission is to help you succeed in your personal finance life with the Bible as your compass. When Jon is not writing on personal finance, he spends time with his girlfriend, lifts iron at the gym, and plays Scrabble. You can subscribe to his site through EMAIL / RSS or you can also find him on Twitter and Facebook . The articles on this site are for entertainment purposes and should not be taken as financial advice. Please contact a financial professional for specific advice regarding your situation. Also, many of the CPF articles help us pay the bills by using affiliate relationships with Amazon, Google, eBay and others. Find out more here .
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How Your Local Retailer is Out to Get You