Use These 5 Tricks to Keep Online Shopping in Check
July 06, 2016When was the last time you indulged in a bit of retail therapy? Even the most financially savvy of us are prone to impulse buys at times. Considering the fact that we often end up regretting those splurges, it’s wise to explore this leak in our budgets and try to keep these guilty pleasures from turning very quickly into shameful regrets.
One way I avoid impulse buying is by shopping with a list and avoiding stores like Target when my emotions are high. I’ve noticed that even when I go into certain stores with a very specific buying mission, I find myself wanting to buy something else, even if I have zero needs. Marketing gurus have figured out how to trip our psychological need to consume and those stops are fully pulled out when you walk into any retail outlet. I’m mindful of this and it helps.
My Achilles heel of impulse buying, however, is the Internet. The “avoiding it” option doesn’t exist, so I’ve had to implement other techniques to quell the shopping. Here are a few tips I use to keep online shopping sprees in check:
1. Create a filter for emails. There’s a reason that stores are so generous with discounts offered via email. They work!
Just this morning, I found myself browsing skorts from Athleta because they sent me an email about their semi-annual sale, even though I didn’t wake up thinking, “Hey, I need a new skort.” I don’t want to give up on the opportunity to enjoy coupons and discounts when I DO need something, so I created a filter that directs all my shopping-related emails straight to a folder aptly titled, “Shopping.” Then when I actually do need to buy something, I just check that folder to see if there are any current coupons or discounts in effect (note to self to add a filter for Athleta).
2. Don’t save your card. Make it one step harder to complete a purchase by opting out of storing your credit card information on a retailer’s site. Not only does this hopefully make you think twice if you have to get up and get your card, it could potentially save your card number from hackers. Win-win.
3. Beware the lure of free shipping. If you find yourself going back to shop for one more thing to put you over the mark and qualify for free shipping, stop for a second and do the math. If the one extra thing you buy is less than shipping would cost, then it’s worth it. Otherwise, you’re just spending money on stuff you don’t need to avoid paying less total money. Pay the shipping or skip the purchase altogether.
4. Realize that Facebook isn’t all-knowing. It’s no coincidence that the pair of shoes you were contemplating on the Nordstrom website suddenly show up in your news feed on Facebook. That’s part of what you signed up for when you agreed to Facebook’s terms. They track everything you browse, not just on their site. For this reason, I try to remember to sign out of Facebook when I’m done so that I can both maintain my privacy and avoid temptations the next time I log in.
5. Only shop sober. Do I really need to explain why shopping online after a few glasses of wine is a great way to blow your budget? If you can’t resist the pull of shopping after happy hour, then at least make an agreement with yourself that you’ll leave everything in the shopping cart and complete the purchase in the morning. Deal?
I’m not suggesting that you cut out all online shopping, but if you spent more money last month on purchases that you don’t really need than you saved for retirement (assuming you’re not on track to have enough to retire by age 65), then a change in priorities is necessary. Consider increasing your savings and opening a separate shopping account where you direct deposit a set amount of money you can afford to spend on splurges each month. Just make sure you don’t go beyond that and find yourself in unnecessary credit card debt either.