We all make impulse purchases that we regret later – that is sometimes as soon as we get home or open the delivered box. But while one purchase every now and then won’t hurt your budget too much, developing a habit of buying items that you don’t really need and you hardly can return without a hassle can be destructive financially.
Many people develop this habit along with another situation, such as, wandering in the mall or watching commercials on televisions. Once their ability to resist the call to action – statements like “Call now,” or “Special offer” – is compromised, they could spend small and big amounts of money on purchases that they even never planned or thought of getting before. Whether it is a treadmill or an apple peeler, these items if they are not really fulfilling a need are just a waste of money.
To shield yourself from developing the habit of impulse buying, consider the following points.
Resist pressure
Never feel pressured to buy something simply because you showed some interest in it. Salespeople often try to place you in a position where saying “no” makes you feel cheap or hesitant. You may even call them out outright when they do that.
There are even less direct forms of pressure such as telling you that something fits your perfectly, the right choice, best for you, looks great on you, etc. All of these tactics have nothing to do with you or the product; the goal often is to make a sale. That is why if you were not shopping for the item, having second thoughts or just unsure, say, “thank you.”
Remember you always can go back and get the item. Even if a special sale price is gone, it probably will be back in a few weeks. What you don’t want to do is to get in the habit of letting salespeople make decisions for you because surrendering your decision making power is financially risky.
Understand commercials
You may think that you’re immune to advertising. But the more you watch commercials or infomercials, the more likely you will begin to form new perceptions of needs and wants. Similar to salespeople pressure, advertising creates images of what people eventually think to be the norm. Should you turn off the television completely, stop reading newspapers and avoid billboards? The answer isn’t necessary a yes or a no.
What makes more sense is to take a critical look at your new requirements and try to filter what you can’t live without from what will be neat to have. If your list of actual needs turns to be too short, you know by now that these desired items are all optional and don’t have to get out of your way to get them. Schedule your purchases therefore as treats and rewards within your budget. With doing this, your spending will be accounted for, you will still get some of the required items and you should be able to track your response to advertising by the length of your wish list.
Don’t be a captive
Do you know why inflight sales are often successful? Because when people are trapped for several hours without much to do, they are captive audience who are more likely to review products and buy them. They even may not have enough time or resources to research prices or review alternatives.
Many sales people play the same exact tactics, but in different ways. For example, a phone salesperson who tries to get you to agree on the spot to a certain purchase is giving you no chance except to hear this one offer. If you understand that many offers – as exceptional as they may appear – probably will be on the table longer than presented initially, you more likely will see the benefit of taking your time. Get the details of the offer and make sure that you’re comparing apples to apples, and that there are no caveats in the deal. Again, this approach will save you from making a purchase decision that you may regret.
Rania Oteify, a former Gulf News Business Features Editor, is currently a Seattle-based editor.
