Impulse spending can wreak havoc on your family’s budget. It’s also easy to fall into the trap. We all get tempted by purchases that we just don’t need. You come across an ad and you want to try it out. Allowing your emotions, stress, or indulgent behaviors to derail your budget can cause long-term damage to your financial goals.

The best way to stick to your goals is to eliminate impulse spending and only buy what you need. Of course, this is easier said than done. So instead, the best thing to do is turn your impulse spending into intentional purchases by following these easy steps.

  1. Wait Before You Buy – No matter how small the purchase may be, don’t buy it right away. Instead, walk away and think about it. If it’s something small, like a candy bar, walk away from the candy aisle and finish your shopping before you add it to your cart. If it’s something larger, sleep on it and make the decision to go back to the store the next day if it’s something you really need.
  2. Budget for the Purchase – If you’ve waited and decided that you really do need that item, fit it into your budget. Just because you have an extra $100 in the bank right now, doesn’t mean you should spend it. Instead, analyze your budget and find the time where that purchase won’t impact your financial goals.
  3. Research the Purchase – Just because you saw that ad, doesn’t mean it’s the best product. Do your due diligence and make sure it’s the best product out there and that you’re getting it for the best price.