Impulse buying is defined as purchasing something on a whim, without having planned to do so. Most people are familiar with the feeling of impulse buying. Perhaps you go to the supermarket just to pick up some oat milk and wind up purchasing an array of pricey juices, crackers, and cheese as well, because everything looked so good. Or you walk through a favorite store on your way home from work and snap up a couple of pairs of shoes because there was a major sale going on.
Spending money is not only part of life, but it can also be a fun way to reward oneself from time to time. But those unexpected, “can’t resist” purchases can add up, make you feel out of control, and lead to blowing your budget. Read on to learn more about impulse buying and how to take control of it.
Key Points
• The definition of impulse buying is making unplanned purchases on a whim. While this can be fun, this can lead to overspending and debt.
• Common triggers for impulse buying may include loneliness, depression, boredom, stress, and FOMO, or fear of missing out.
• Managing impulsive spending can involve setting a budget, avoiding triggers and places to encourage shopping, and practicing mindfulness to stay aware and in control of financial decisions.
• Participating in a no-spend challenge can help break the cycle of impulsive buying and foster better spending habits.
• Joining a support group or seeking professional help can provide additional resources and strategies to manage impulsive spending.
What Is an Impulse Buy?
Impulsive shopping tends to happen when a person gets caught up in the moment and spontaneously buys something. It’s a purchase without any forethought or planning, and it’s often not within a person’s budget.
People who impulse-shop are usually influenced by external triggers, such as seeing an item on sale or positively responding to a store’s atmosphere. Everyone indulges in some impulse-fueled retail therapy now and then. You might be just starting college and over-use your student checking account as you decorate your dorm room. Or you could be approaching retirement and think you deserve a new car as a reward for all your years of hard work.
However, when these immediate gratification purchases become habitual, the behavior can morph into something uncontrollable and financially damaging. Taken to an extreme, potentially dire financial issues could result, such as credit card debt, foreclosure, and bankruptcy.
When it has this kind of negative impact, it could keep you from achieving your long-term goals and be considered a disorder.
What Causes Impulse Shopping?
Buying something spontaneously can trigger a rush of dopamine, the body’s feel-good hormone. That’s why it feels so rewarding.
A variety of factors can trigger impulsive shopping. Your triggers are likely different from those that get your best friend to splurge. Some common causes include:
• Feelings of loneliness and depression. Buying items can be an exciting mood-lifter; a kind of high.
• Boredom. Just as mentioned above, buying things can spark joy and add interest to a blah day.
• Stress relief. The idea of retail therapy can be real. Sometimes, if a person is having issues (a family argument, a rough day at work), and making an unplanned buy is both a distraction and a mood boost.
• FOMO (Fear of missing out). Feeling as if you don’t want to miss out or as if we want to “keep up with the Joneses” can result in unexpected purchases. For instance, if a favorite influencer touts a new product on social media and says it’s almost sold out, you might click to buy it and be part of the “in crowd.” That’s FOMO spending in action.
• Personal history. If you were raised in a family which often engaged in impulsive spending, they modeled that behavior for you and you may consider it normal.
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Examples of Impulse Buying
You may be curious about how people typically engage in impulse buying. According to a recent survey by Slickdeals conducted One Poll, spontaneous purchases totaled $151 per month on average among respondents.
Impulse Purchases in Everyday Scenarios
Are you curious about what constitutes an impulse purchase? Here are some common examples:
• While waiting to purchase a new lipstick at a beauty retailer, you’re surrounded by sample sizes for sale so you scoop up several. When you reach the register and tap your debit card to pay, an extra $50 is whisked out of your checking account to cover the cost of your extras.
• You head to the store to buy a new white shirt for work. When you get there, you notice there’s a “buy three, get one free” sale underway, so you decide to take advantage of it and leave the shop with four shirts vs. the one you intended to buy.
• After coffee with a friend at a local bakery, you notice all the delicious breads behind the counter. Before leaving, you purchase a couple of pricey loaves, plus a scone and a cinnamon bun, because it all looks so good.
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If you’re curious about impulse shopping tends to stack up by category, here are details of the ways in which most people spend:
| Percentage of People Who Bought the Item on Impulse | Item Bought on Impulse |
|---|---|
| 55% | Clothing |
| 50% | Groceries |
| 42% | Household items |
| 32% | Shoes |
| 23% | Takeout |
| 21% | Books |
| 20% | Toys |
| 19% | Technology |
| 18% | Coffee |
What Is the Difference Between Impulsive and Compulsive Shopping?
Impulse buying is somewhat different from compulsive shopping, though some mental-health professionals consider them to be aspects of the same issue.
As mentioned above, impulse shopping tends to be spontaneous. It “just happens” in the moment: You’re grocery-shopping and wind up buying some pricey ice cream and gourmet coffee beans.
With compulsive shopping, however, the person usually plans and invests time on their purchases, perhaps spending more energy and money than is desirable. This chart shows some key differences:
| Compulsive | Impulsive |
|---|---|
| Resembles addictive behavior | Can develop into addictive-like behavior if left unchecked |
| Buying things regularly | Buying is more occasional and situational |
| Shopping is planned and premeditated | Shopping is unplanned and spontaneous |
| More internally motivated by uncomfortable emotions | More externally motivated and influenced by shopping environments and marketing |
How to Avoid Impulse Purchases
If impulse purchases are tipping into the danger zone and ruining your budget and financial fitness, take action. There is help. Consider these suggestions on how to get started if you wonder if you’re a shopaholic:
Paying Close Attention to Spending Habits
Figuring out your particular shopping triggers can help you avoid or eliminate them. For instance, when buying, do you use credit cards instead of paying with cash or a debit card? Make shopping a priority over paying bills? Grocery shop without making a list?
Being honest about how and why you may engage in certain overspending behaviors is vital to understanding the issue. Changing spending habits can then help you manage your finances better.
Setting a Budget
Creating and sticking to a budget allows you to gain control over your spending. A well-thought out budget will help with personal accountability and achieving financial discipline. Try to set yourself up with the flexibility to splurge sometimes. This will help keep you from feeling completely deprived.
One suggestion is to consider incorporating the 50/30/20 budget rule. This guideline recommends spending up to 50% of your after-tax income on must-haves (say, housing, car payments, utilities, healthcare, and groceries). Then, take 30% of your money and reserve it for wants such as dinners out, vacations, concert tickets, electronics, and clothing. The remaining 20% should be allocated for investments, an emergency fund, debt repayment, or savings.
The Role of Mindfulness in Reducing Impulse Purchases
Practicing mindfulness can also help reduce impulse buying. Several studies have shown that this practice can lessen the urge to act on what are deemed “consumerist impulses” and thereby help an individual be less prone to impulsive shopping.
To practice mindfulness, which is a kind of meditation, a person focuses on being present in the moment without judgment.
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Minimizing Temptation
Here are some ways not to put yourself in situations that can trigger impulse buying:
• Many stores are carefully designed to get you to shop and spend, perhaps to an extreme. If a store’s atmosphere — the design, the scents, the music — tends to get you impulse buying, avoid it. Don’t walk down the streets filled with your favorite shops; try to escape the triggers that make you shop too much.
• If you often spend free time at the mall or online shopping, sign yourself up for a class, take up a new sport, volunteer, or find other ways to fill the hours.
• Curbing social media exposure can help, too. Research suggests ads and posts from social media influencers and seeing purchases from people in your social networks may encourage a “keeping up with the Joneses” mentality, often leading to impulsive buying.
• Also consider the way technology could be enabling impulse buys. In some ways, tech can be terrific; think of the way online banking has made handling your finances easier, whenever and wherever you are. But it can play a role in impulse buying: If you have your credit card saved on your mobile phone, that could enable one-click shopping on Instagram and other platforms, and that can lead to mindless spending.
Starting a No-Spend or 30-Day Savings Rule
A quick way to stop spending money is to freeze any non-essential spending for an entire month. Commit to a 30-day shopping ban on impulse buys such as clothing, make-up, tech gadgets, or take-out, and see how much extra money you have at the end of the month. The difference may be eye-opening and help you break the cycle.
Successfully controlling your spending can provide a feeling of accomplishment and a confidence boost and offset feelings of being bad with money. Participating in a no-spend challenge can even become a fun game; you can involve other budget-conscious friends and know you’re all in it together.
Joining a Support Group
Here’s another way to stop impulse buying for some people: National 12-step program support groups such as Debtors Anonymous (especially if you’ve racked up credit card debt) and Spenders Anonymous are also an option. They can connect you with others who are dealing with similar issues.
Seeking Some Professional Help
Individual counseling with a mental health professional can help you get to the emotional root of your buying issues. Psychotherapy, such as cognitive behavioral therapy (CBT), can effectively treat impulse shopping behaviors.
If you are getting into debt, losing sleep over your shopping habit, or often transferring funds because you’re teetering on the edge of overdrafting, it may be time to work with a qualified professional.
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The Takeaway
Impulsive buying can be a fun treat sometimes…or it can seriously affect your financial life. Taking positive, concrete steps is likely to help conquer the problem. Getting past this spending issue, whether by shifting your behaviors or seeking professional help, can be a positive move, both for you personally and for your bank account.
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FAQ
Is breaking a budget a sign of impulse shopping?
Breaking your budget is not necessarily a sign of impulse shopping. However, if you regularly deviate from your budget, spend money allocated for needs on wants or unplanned purchases, and find yourself saddled with credit card debt, you may need to rein in your impulse spending. Analyze your shopping habits and budget to understand your behavior better.
Is making an impulse purchase a bad thing?
The reality is, most of us make occasional impulse buys, and they are not always such a bad thing. However, if this kind of shopping becomes habitual and leaves you with debt, pay attention and take steps to improve the situation.
How do I limit impulse purchases?
One way to limit impulse purchases is to avoid stores or websites where you know you tend to overspend. Also, ask yourself, “Do I need this or do I just want it?” when tempted to make a purchase. If the answer is the latter, wait 24 hours, and see if you still really want it. Your desire may dwindle during that cooling-off period.
What Is impulse buying behavior?
Impulse buying involves making unplanned purchases, say, while heading home from work, at the supermarket to pick up necessities, or while spending a weekend afternoon downtown. Doing this occasionally isn’t a problem, but if you overdo it and are having trouble managing your budget and debt, it’s worth trying to minimize the habit.
Is impulse buying problematic?
Impulse buying in and of itself isn’t problematic; it’s okay to treat yourself to unplanned purchases now and then. However, if impulsive purchases are wreaking havoc with your budget, causing you stress, and accruing credit card debt, then it’s an issue to be managed.
Is there a connection between impulse buying and ADHD?
Some experts believe that people with ADHD are more prone to impulsive behavior, which can include spontaneous purchases. Impulse shopping can trigger a rush of the feel-good hormone dopamine, which those with ADHD may crave.
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