5 Ways To Avoid Impulsive Spending!
Advertisement
Advertisement
We need to face it everyday. No matter how frugal or a savings person you are, sometimes we do give into that impulse buying. Once in a while doing that is ok, but it is not advisable always. Here are few ways to stop yourself from
1. Postpone your buy: The longer you postpone, it gives you more time to evaluate your need for that particular thing. Sneha Sharma, a Mumbai-based journalist postponed her plan to buy a car for five years. “Five years ago I was close to buying, for some vague reason my mom stopped me. I started thinking and mulling over it. It took me over five years to buy. I realized it is more of a necessity so one requires, but not on an impulse,” she said.
2. Keep changing your
3. Check for alternates: Whenever you pick up an item to buy, consider the alternatives. The first alternative to consider is to see if you can do without it? If yes, you have already saved a bit. Else look for competing brands and work out the math. See if they are cheaper, check if the quality suits your needs, then you pay lesser.
Advertisement
5. Do not get fooled with “Off sales”: This is one of the biggest eye wash strategies the modern retail has invented. Preeti learnt it the hard way. She once found a leading ladies casual wear brand saying there is a 30 per cent discount across the store. After the discount, her favourite dress was working out for Rs 1,299. “I wasn’t carrying enough cash that day. So I went back after 5 days when the mall announced a mall-wide discount of 50 per cent,” she said. She assumed she might get more discount on the same piece. But surprisingly, even after 50 per cent discount she still had to spend Rs 1,299 on the same dress.
So keep these important
Rajiv Raj is the Director and Co-Founder of www.creditvidya.com
Image: ThinkStock
Advertisement
- 6 reasons why you should visit Ladakh this summer
- TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery
- As English players begin their premature IPL exodus, Gavaskar calls for action against England Cricket Board
- Top 10 destinations for river rafting in India in 2024
- Should you enrol your child in an online university like IGNOU?
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market