So much we buy without thinking about, and most of it we don’t need. If you fit into this category, and we probably all do at some time!, check out these times to stop yourself from the impulse buy.

– Ask yourself is it a necessity or a luxury.

– Wait until it is on sale.

– If you want to get saving and not spending, these five rules as a great place to start.  They are all aimed at maximizing your bank balance and limiting impulsive spending.

– Choose and apply these rules for saving satisfaction!

– Have a credit rule:  If you do not have the cash on hand and need to use credit to make the purchase, for example credit card, store finance), then you cannot buy it.

– Have a price rule: Any purchase over a particular amount must be approved by both partners.  To stop impulse buys, make a rule that both husband and wife must agree the purchase is necessary.

– Give yourself a cooling off period: : Any purchase over a certain amount, say $50, must not be made instantly, you must wait at least 24 hours before buying it.

– Ask the question: “Do I really need it?”.  It is amazing what we can come to consider essentials these days.   Apply this question for some soul-searching and think whether you consider your potential purchase an essential, or can you live without out it.

– Do the maths:  Before buying something, work out how many hours of you working it would take to purchase that item.  Is it worth it?

– 10am is the best time to the supermarket shop.  Your tummy is still full from breakfast, and so you are less likely to make those costly impulse purchases.

– How a bit of spending truth/transparency?  50% does not mean you save 50% – it means you spend 50% less – you are still spending!  Yes – spending!  Focus on that word!!

– Plan your shopping. For example, if you intend to go out and buy some clothes to update your wardrobe, or give your living area a facelift. Plan in detail your spending, with a budget. Either go shopping with cash or transfer that spending limit to your debit card (and leave the plastic at home), so you won’t be able to justify impulse purchases.

– Check if you can return it if you have buyer’s remorse when you get home.

– Take a picture. They say it is worth a thousand words. Click and see what others will see, and you might stop a purchase.