Write an article on avoid impluse buying on electronic gadgets
Answers
Answer:
What is impulse buying?
Impulse buying is unplanned spending where the decision to buy is made immediately before purchase. Impulse buying is normally motivated by emotional thinking where there is a perception that a purchase will bring a change in mood.
Impulse buying is commonly associated with ‘buyer’s remorse’ and feelings of guilt following the purchase. It was once thought to only apply to small purchases, like those that appear at the grocery store check out: chocolates, chewing gum, or soft drink – or those found by chance at never-to-be-repeated prices: bargain bins, 50% off sales, closing down sales, or promotional deals.
Explanation:
10 ways to stop impulse buying
Realize that you don’t know when you’re being irrational. The best way to avoid impulse buying is to make it impossible. Take your credit cards out of your wallet, and don’t take money with you unless you are shopping for a specific item you have already decided on. Turn off one-click ordering on Amazon and the like.
Plan purchases in advance. Take a shopping list when grocery shopping and don’t deviate.
Use a 30 day purchase list for items above $100. You can’t buy the item on the list until 30 days have past. What you will find is that you don’t want the item any more, or at the very least, you’ve found it for much less somewhere else. Delayed satisfaction leads to greater satisfaction anyway – and you’ll be much less likely to experience buyer’s remorse.
Make a game out of avoiding spending. Have a budget and know how much is left in each category for the month. Learn to get a sense of satisfaction for beating the shop you’re in when you leave with nothing.
Watch less television. TV is packed with advertising which is very carefully designed to take advantage of our psychological biases and irrationality. It’s good at making us want things and good at making us feel like we’re worth less if we don’t have a particular product. If this were not true consider how and why the advertising industry is worth billions of dollars world wide.
Eat before going grocery shopping. The study I referred to above is proof that shopping on an empty stomach will cost you money. Same goes for shopping when upset. Our irrational mind can convince us that purchases will make us happy in the short term.
Track your spending. Knowing where your money is going is a great way to prevent future spending.
Write down your financial goals. Have a short version of them on a sticky note on the inside of your wallet or purse so you see it before you spend anything.
Be wary of special offers or never-to-be-repeated deals. Compare prices on the internet and between other retailers before committing. It’s not a bargain and it’s not saving you money if you weren’t going to buy it in the first place.
Shop alone. Don’t shop with someone you know is a bad influence on your spending habits. If you have a friend who has convinced you to splurge in the past – try to avoid shopping with them in the future.