Impulse saving is a whim of putting money into the account to avoid potential spending money on expensive purchases. The urge to spend money on lavish products or services which may so be regretful in the coming days is where impulse buying becomes troublesome.
Here are some helpful tips to Impulse Saving
Rewards always work on people, regardless of the age. Whether it is a kid being rewarded for saving or an adult for the same, the reaction remains similar. Every time you save on something, you can start rewarding yourself with a minimal amount to be spent for it. Suppose, at the end of the month, you are able to save a fraction of your earnings, you can use a pre-defined amount from it as a reward.
Lock your money
By opening accounts with the bank and depositing in year-long plans, there is a fair chance for you to be able to secure your future by not spending today. If you end up spending all the earned amount today itself, there will be nothing left with you in the future. Hence, savings always come in handy when want to easily recover from uncertainties and loans. Please Checkout our blog to know about how to stop impulse buying.
Train your mind
Once you practice the “art of saying,” your mind with automatically nudge the moment you feel like being an impulse buyer again. Training your mind to not react immediately to any purchases will help overcome subsequent abuse of money in hand.
Take a snapshot
If you are an impulse shopper of products, there is a better way to stop paying a chunk of your income on them. Whenever you step outside and happen to like something expensive yet tempting, take a picture. Save it in your gallery and wait for a week’s time.
Saving this picture for the future can result in either of these things: you will eventually forget about the dress you want to purchase or you will still end up buying the dress even after a week’s time or lastly, the dress will be outdated by then.
Apps that keep sending offers, discounts, or sales must have stayed away from to not have that urge of spending. Uninstall the ones that absolutely make people go cray-cray over attractive offers.
Shopping apps, grocery apps, electronics, coupon apps, food delivery apps, and more are majorly working towards grabbing the attention of the user. Hence, a notification stating, “50% off on your sweatpants,” makes you want to jump and wonder how great of a deal you have received. The problem here is that you never wanted sweatpants in the first place.
Download helpful apps that ask you to think twice before spending any money of yours for purchases that are not worth it. There are numerous useful online applications that block your way and help you focus on what’s more important.
Spending and treating yourself is what anybody would want to choose over locking your money to safeguard your mere uncertain future. Such a dilemma of future being favorable or not can cause you to spend heavily on today than tomorrow. If you don’t plan your budget beforehand, it will be problematic of you and the people who financially depend on you.
Doctor Money app is an online system allowing you to monitor your financial strength in a simplified manner. This app is for converting the act of impulse buying into impulse saving by creating quality spending budgets so that the user remains within his means.