Finally Friday, friends!
Do you struggle with impulse buying?
You’re not alone!
While I (Kim) might be able to handle myself in TJ Maxx, all bets are off at the grocery store.
I have a hard time sticking to my list, and if you’re reading this, maybe you do, too!
The True Cost of Impulse Spending 💥
With inflation at an all-time high, it’s more difficult than ever to keep money in our pockets.
On average, the typical American impulse spends $150 monthly. When you crunch the numbers, that’s a total of $1,800 per year, or $9,000 every five years.
While you might be telling yourself that consumption drives the economy, it’s important to remember where the money is going.
Oftentimes, it’s to big businesses that aren’t eco-friendly and use misleading tactics to drive up prices and lure in more consumers.
But, if we curbed impulse shopping, we could be more intentional with our purchases. We could choose to shop responsibly, ethically, and sustainably.
Tips to Reduce Impulse Spending
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Implement the 24-hour rule. 🕛 Studies show that the majority of the dopamine hit we receive from impulse shopping is in the events leading up to the purchase of the item. Consider adding any items you are thinking about purchasing online to your cart, but don’t actually purchase it for at least 24 hours. If after 24 hours you decide you still want to buy the item, go for it! But, if you forgot about or decided to find a creative solution to meet your needs, then remove it!
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Replace the habit. 🔄 Are you a boredom shopper? Find a healthy alternative to browsing Insta ads. Whether it’s working out, engaging your brain with a word search, or taking a quick walk outside, replacing the urge with a healthy alternative is an easy way to get big results.
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Treat Yourself. 🎁 Yes, you’re reading that right! We’re all about values-based spending here, and treating yourself to a planned purchase helps negate impulse shopping by shifting focus from what we want (the impulse buy) to what we’re gaining (the planned purchase).
On Tuesday, Jen & Jill broke down what salvage stores are and how to find frugal wins while shopping in Save Money With Salvage Stores (Ep 420).
It’s a debt-free Summer and we’ve got another listener’s story for you today! Tune into : This Couple’s Crazy Side Hustles Led to Paying off $60K of Debt in 2 Years (Ep 421)
Listen wherever you get podcasts and let us know what you thought of the episode over on our latest Instagram post!
✅ Watch: The slam poem that made me believe anything is possible, Scratch and Dent Dreams. Eric Darby delivers in this hopeful soliloquy.
✅ Do: Give yourself permission to plan for the future. Sign up for term life insurance with Ladder in three easy steps to ensure those you love are cared for. With flexible coverage options and a commitment to keeping the company green, Ladder is a frugal win. 💯 **
✅ Meal Prep: Skip the hot oven & try the air fryer with this air fryer pepperoni pizza recipe from Good Housekeeping! With sliced pepperoncinis, drizzled honey, and only 5 steps, it’s the perfect July recipe IMO. 💅
Enjoy your weekend,
Kim
⭐️⭐️ P.S. Want to share all this goodness with your friends AND earn cool Frugal Friends merch?
**Means this is a sponsored or affiliate section. We may earn a small fee or commission when you choose to try one of our sponsor or affiliate partners. But opinions are still 1000% our own.
