5 Ways To Stop Being A Shopaholic

By Sanesh Mathew | April 6, 2018

Being a shopaholic is indeed a problem, but that doesn’t mean it can’t be treated. Stop giving into instant gratification by following these simple tips and start living a well-balanced lifestyle.

5 Ways To Stop Being A Shopaholic

Do you always end up picking up stuff other than the ones in your shopping list? Have you got a wardrobe full of clothes you hardly wear? If you do, then you are a shopaholic, my friend!

Additional Reading: Shop Like A Boss In 2018 Using Credit Cards

Shopping, today, has turned into a pastime for most young adults in India. This trend could be a result of constant exposure to TV  and Internet advertisements, those huge billboard ads, and the proliferation of shopping malls. Not only do these manipulate our spending habits, they turn you into impulsive, emotional spenders.

Well, occasional indulgence isn’t bad! What is the point of earning money if you can’t buy things that you like, right? But that doesn’t mean you should be over-spending. Spend only what your pocket permits you to. Here are few simple tips to kick the habit of impulsive spending out of the window.

Say NO to impulsive buying

No, everything that attracts your attention is a not a necessity! The next time you badly want that beautiful dress or that fancy laptop, wait till the next day to buy it. The urge to buy impulsively is mostly a subconscious reaction, so most of us realise later that it was a good decision to have skipped buying it.

An easy way to beat impulse purchases is by planning your monthly expenses in advance. Set aside the required sum for paying your monthly bills and savings. And then, if you still have enough money left, you could probably satiate some of your desires.

Additional Reading: How Your Brain Is Wired Towards Saving And Spending

Make a wish list

Everyone has a wish list!

Pen down all the things that you wish to own someday. This way you can schedule your purchases across months and not end up spending all your hard-earned money (or exhausting your Credit Card’s limit) at once.

Keep advertisements away

Advertisements are everywhere! Keep yourself away from manipulative ads by taking these small steps:

  • Get an ad blocking software for your browser
  • Unsubscribe from all mailers from retail stores
  • Restrict visits to malls and shopping complexes

The lesser the exposure to advertisements, the lesser you’ll spend unnecessarily.

Monitor your Credit Card spending

Do you have a Credit Card? First and foremost, learn how to use it smartly if you want to lead a debt-free life. Make sure that you assess your monthly Credit Card bills, so you can eliminate unnecessary expenditure in the future. Another way to minimise your Credit Card expenditure is by not carrying it with you everywhere.

Going shopping or meeting your friends at the mall? Leave your Credit Card at home, unless there’s some irresistible offer that’s applicable only on your card.

Additional Reading: Massage Your Ego With A Credit Card

Limit Temptations       

Stay away from malls and online shopping sites. Shopaholics are easily lured by these places and they often end up spending a lot of money. Next time you’re bored and feel the urge to go the mall, try out other activities. You could try reading a book, going for a walk, or visit a friend. Take this small step and save yourself from temptations.

Additional Reading: 5 Vibrant Places In Mumbai That Are Sure To Delight The Shopaholic In You

The next time you’re tempted to dash to the mall and buy unnecessary stuff, think about what impulsive spending can do to your finances, and life in general. Managing finances can be a tedious task for a shopaholic, but it is important to inculcate this practice if you want to lead a peaceful and financially-sound life. All it takes is a little bit of control over your spending habits and you’ll be free from the trap of impulse buying.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Credit Cards Money Management shopping

About Sanesh Mathew

A talkative sleepyhead, Sanesh, enjoys watching horror movies, listening to music, reading all things related to personal finance and wandering aimlessly (walking meditation, he calls it!). He refers to himself as a 'simple human being with a rather chaotic mind'.

Leave a Reply

Your email address will not be published.