How can I spend more less impulsively?

[imyanaocampo]

I’ve been doing great so far in my spendings, however before that, I was so close to going broke. Impulsive spending can really be dangerous and scary

[chrislaijj]

Dear @imyanaocampo,

Thank you for sharing your personal challenges with spending, as well as your experiences and wisdom about the dangers and negative emotions associated with impulsive spending.

I would like to congratulate you on overcoming your hurdles in impulse spending, and thank you for wanting to share your experiences with others who may be currently suffering from them.

As to further methods on how to better manage impulse spending, I would very much like to quote what @HeiHei has posted in a similar page as it is excellent advise:

@HeiHei

In the meantime, here are some things we can do to prevent shopping impulsively:

1. Have a reasonable shopping budget and stick to it. This can be a weekly or monthly budget - whatever works for you! The important thing is that you stay disciplined with it and not overspend. Setting a budget will help you stick within your means of spending without completely cutting yourself off from the things you enjoy. Whenever you feel the urge to buy something, consider if it is within your budget and if you will have enough money leftover to buy other things.

2. Set a 48h decision rule. When you want to buy something - hold off on making the purchase for at least 48h. If, and only, after 48h you still want to make the purchase (and it is within budget!) - go for it. This rule can help you decide if something is truly worth buying or if it’s just another impulsive ‘want’ in the moment.

3. Be accountable. Let your family or friends know that you working on cutting down impulsive spending and have them check in on you. This could be in the form of weekly or fortnightly check-ins to make sure you are staying on track with your goal. If you are going shopping in person, consider inviting someone who knows about your plan to go with you.

4. Seek other methods to relieve stress. Exercising, dancing, journaling, or any other hobbies you might have are all greats alternatives to shopping you could try.

I would also like to share some tools you may find useful. Here is one for working towards your goals (Mental Support & Wellbeing Resources in Singapore to Improve Workplace Mental Health | mindline.sg), and one for quick stress relief (Mental Support & Wellbeing Resources in Singapore to Improve Workplace Mental Health | mindline.sg).

Once again, thank you very much for bringing us awareness about impulse spending and the dangers and negative experiences it carries.

Warmth and Kindness,

Chris