Shopping is so addictive, more addictive than smoking or drinking. It’s an impulse for people to buy whatever they want without even thinking about how much they are spending.
I spend money like it’s water, I don’t consider the amount of money I spend for myself and others. Birthdays are the worst as there are so many people I buy presents for and I always end up overspending, because I feel bad if I don’t buy something worthwhile.
With online services like Amazon and Ebay, it’s easy to browse through items and make purchases from the push of a button at the comfort of a couch.
This leads to buying way too many things, which people don’t neccesarily need, which ends up with regret and questioning why I keep buying things that are impractical.
Impulsive shopping is not good for us; especially not students as we already have no money as it is. This is why it’s important to rein in how much shopping we do and ways to control it.
Here are some ideas:
Use preloaded gift cards as a budgeting tool: Gift cards are the answers to everyone’s prayers. It’s almost like free money as I always get gift cards when it’s my birthday or for Christmas, and they are a good way to budget. They are life saviours for students as they can be used for anything, depending on the type of card you have. You can use the money on the card all at once, or use it in bulks so you can use it more than once over a period of time, which is helpful for spreading out your budget over a weekly timeline.
Get rid of mobile shopping apps: All online retailers now have an app, which makes it harder to not be enticed to buy items. As the accessibility is right there, students are easily manipulated to browse through any time they want. Shopping apps are too convienient and triggers addiction right at your fingertrips, so it’s better to delete them.
Have a wish list instead of checking out: A wish list allows you to browse items which you can aspire to have in the future. Instead of adding it straightaway into your checkout, you can opt to save them for later preferences when you have enough money to afford it. When you have a wish list, it will make you want to save up for the things you desire, almost like a list of what you want for your birthday. This will hopefully act like a tracker, so once you save up money for a certain item, you can tick it off the list and save up for the next. With lists, you can also change your mind as to whether the purchase is worth buying because prices change all the time, making it easier to spend less; especially when there are sales.
Stick to cash: Whenever I go out, I see a lot of people use cards as if there is unlimited amounts of money on there. People swiping and tapping their contactless cards whilst on nights out, shopping and dining is the reason why overdrafts are through the roof. Cash is the best way forward, because if you only take a certain amount, let's say £20 to last a whole night, it will limit you to not go overboard and regret it the next morning.
Avoid shopping with people who also spend a lot: This is peer pressure at it’s finest because if you are surrounded with people who are impulse buyers, it will make you want to do the same. It’s like when someone forces you to eat junk food when you are trying to be healthy, but you end up eating it anyway. Shopping with impulse buyers is just the worst; especially when they might have more money to spend or don’t have financial problems. Avoid spending time with people who are rich or just people who are bad influencers.
Controlling spending habits is easier said than done, but patience is key and having the right determination to not end up penniless will make your spending money go a long way. Shopping is a leisure experience that people should enjoy, but as they say less is more. Spending less over a period of time will make you feel satisifed that you haven’t wasted it on pointless items.