How to Avoid impulsive buying :(
- Thread starter Being.smart
- Start date
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You can survive on no pocket money if you eat food only at home and don't use any vehicles; + no shopping and other extravaganzas.As of today given all of my cards to mom, and asked them to lock all of them in bank locker
Also takes Rs. 1000 as pocket money, let see if i can survive this month or not
observer some of my family and friend spend mostly on phone update and much more , as they do show off to another friend and someone as i don't not like his/her habit
as one of my friend bought Nokia lumia 920 for 33k and sold for 15k after 6-7 month and bought Lumia 925 against and what an stupid thing all same spec but light weight
as since young age they u do not understand about saving income for spending impulsive buying, as they do spend at lot of money like gadgets , mobile, vehicle and much more and show off to us and i don't give a damn and then they will slowly learn biggest business or job in the future, when your become mature around 30 year for saving it more money... and heavy investment
P.s i am just 23 year still young and never spend at lot cause i already have credit card, everything but never put it at show off thread and my facebook list
as one of my friend bought Nokia lumia 920 for 33k and sold for 15k after 6-7 month and bought Lumia 925 against and what an stupid thing all same spec but light weight
as since young age they u do not understand about saving income for spending impulsive buying, as they do spend at lot of money like gadgets , mobile, vehicle and much more and show off to us and i don't give a damn and then they will slowly learn biggest business or job in the future, when your become mature around 30 year for saving it more money... and heavy investment
P.s i am just 23 year still young and never spend at lot cause i already have credit card, everything but never put it at show off thread and my facebook list
raksrules
Oracle
We make a list of things to buy when we go to reliance mart / Dmart. In 90% of the visits, we never buy anything which is not on list. Yes there is a stray 10% where we buy some random stuff which we regret later. But that too has lessened a lot. But i have seen people at supermarkets fill their carts to the brim as if world is going to end and most of the stuff is see are chips and colas, probably they could not resist the discount.
In fact when it comes to SALE and all i am very very particular about comparing the prices. Call me OCD or finicky but i sometimes actually compare the prices of a smaller pack of biscuits vs a larger supposedly "Money saver" pack. This is almost never a money saver.
Eg (numbers might be inaccurate) : McVites digestive on my local dmart was something 16 Rs for 100 Gm or so and a bigger 500 Gm pack was 90 Rs or so. I do not remember.
But if i buy the bigger pack i spend 90 Rs while 5 smaller packs means i pay 80 Rs for the same amount of biscuits. I guess most people might not be calculating such things.
raksrules
Oracle
Many believe that. My FIL and my maternal Uncle do not have a credit card as they fear they will over spend. I have a credit card since the time i started earning and i never overspend. Infact i never spend more than the limit and in most cases i am far away from my limit (which is just 41K Rs). But i see CC as convenience where i can keep track of my expenses, many a times earn loyalty points which gets me say couple of free mobile recharges and such.
supermarkets are very cunning , theres a whole list of things that they do to make you buy things that you hardly need , even the size of trollys for a start , its big , people want to fill it, thats the mentality , i ask for the basket and no one ever shows where ti is 
, bigbasket.com to the rescue 
, bigbasket.com to the rescue
raksrules
Oracle
supermarkets are very cunning , theres a whole list of things that they do to make you buy things that you hardly need , even the size of trollys for a start , its big , people want to fill it, thats the mentality , i ask for the basket and no one ever shows where ti is
I am so pissed at super markets because of super long lines and even more because each of the cart is so full. So what me and my wife do is get 2 baskets, buy 5-6 items each and then stand in the "5 or less items only" line and get out in a breeze. Since we go to Dmart etc every week we dont have lots and lots to buy.
What worked for me is this.
Whenever i have an impulse to buy something, i dont buy it at that time. I think if i really need it.
I wait for some days and then if i still want to buy it, then i buy it.
Whenever i have an impulse to buy something, i dont buy it at that time. I think if i really need it.
I wait for some days and then if i still want to buy it, then i buy it.
CC interest rates are too much and if one is unable to pay on time, the fine amount is too much. I avoid CC at all costs.
raksrules
Oracle
I pay on time always. My CC limit is just 41K but few days back i had to buy a laptop and i already ordered it on Infibeam by paying 24K through CC (authorization which reduce my credit). So along with some other usual purchases my CC limit came down to some 7K.
But then i found a better deal on ebay and had to shell like 22 K there and since i did not have credit limit, i did an advanced payment to my CC of 20K and got my limit upped to 27K and paid for laptop using the CC.
PS: Not sure if i made any sense above
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Being.smart
Galvanizer
raksrules
Oracle
The laptop was something i was anyways supposed to buy and infact i had already bought it from Infibeam (not yet shipped, so cancelled it). It is just that i found a deal at the last moment and had to do all that. So if i would have bought the laptop only because there is a deal or discount then that is impulsive buying.
Yeah it made senseI pay on time always. My CC limit is just 41K but few days back i had to buy a laptop and i already ordered it on Infibeam by paying 24K through CC (authorization which reduce my credit). So along with some other usual purchases my CC limit came down to some 7K.
But then i found a better deal on ebay and had to shell like 22 K there and since i did not have credit limit, i did an advanced payment to my CC of 20K and got my limit upped to 27K and paid for laptop using the CC.
PS: Not sure if i made any sense above
Once upon a time i had bought upto 70k on my CC and i just kept paying the min monthly dues. The Interest rates were so much, that min monthly dues were not enough. Then I quit my company and used the gratuity and leave encashment amount to pay the dues in one go.
From then I Decided to never ever keep any dues in CC.
ithehappy
Galvanizer
Only if it were that simple.
Anyway, how I stopped it, sort of, was I took an oath that I will be saving X amount of money for next six months, and when I reach my target the next six months will tell you to save even more. It will never be impulsive saving though
@ Rak,its great that you have kept things under control but i have my office friends with CC limit of 80+ thousand and have seen them purchasing things just for the heck of it. I mean,there is this guy - He had galaxy s3 . He sold it for a loss to get Note II and then sold it at a loss to get S4 and all he does is FB/Whatsapp .
Credit cards cannot be blamed for bad spending habits. After all, the cards don't do the shopping. It's the man (or woman) with the card that does that. Learning to resist, and learning good spending habits are more essential.
I am not perfect when it comes to impulse buying... I sometimes get things that I could have avoided.. But the value of my impulse buys are usually very very less. Anything beyond 500 or 600 rs. makes me think more than a few times. Rather, I tell myself that for such costly items, I need to read reviews, compare prices and then decide. In all probability, I won't be making any of that research when I come back home. Sleeping over it and postponing the purchase by a day would be the best way to know if the item was really essential or not.
Like someone said, getting married also helps. But not always.
I am not perfect when it comes to impulse buying... I sometimes get things that I could have avoided.. But the value of my impulse buys are usually very very less. Anything beyond 500 or 600 rs. makes me think more than a few times. Rather, I tell myself that for such costly items, I need to read reviews, compare prices and then decide. In all probability, I won't be making any of that research when I come back home.
Sleeping over it and postponing the purchase by a day would be the best way to know if the item was really essential or not.Like someone said, getting married also helps.
But not always.- Status