From our archive. This article was published on 15 December 2021. Rules and amounts may have changed since.
Avoiding impulse and compulsive purchases can be difficult, but there are some strategies that can help you change this behaviour and stick with it in the long term:
Identify triggers: Try to identify what triggers your impulse or compulsive purchases. Is it stress, boredom, loneliness or something else, for example? By identifying the cause, you can become more aware of it and develop strategies to deal with it.
Make a plan: Make a plan before you go shopping. Make a list of what you need and stick to it. Try to set a budget as well and stick to that.
Wait 24 hours: If you want to buy something you do not need, wait at least 24 hours before you actually buy it. This gives you time to think it over and decide whether you really need it.
Set goals: Set financial goals for yourself and stick to them. For example, you can set a goal of saving a certain amount every month. This can help you consider your purchases more carefully and set priorities.
Look for alternatives: If you feel you have to buy something to feel better, look for alternative ways to reward yourself. For example, go for a walk, call a friend or read a good book.
Seek support: Seek support from friends and family, or consider looking for professional help if you find that avoiding impulse or compulsive purchases is very difficult.
Changing behaviour is not easy, and it can take time to develop new habits and stick with them. It is important to be patient and not to judge yourself too harshly if it does not work straight away. With the right strategies and support, however, you can reduce your impulse purchases and work towards a healthy and sustainable financial future.