Reduce impulse buying - Deepstash

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Reduce impulse buying

Before purchasing non-essential items ask yourself:

  • Can I live without this item?
  • Based on my financial situation, can I afford it?
  • Will I actually use it? Do I have space for it?
  • How did I come across it in the first place? (Did I come across it after wandering into a gift shop out of boredom?)
  • What is my emotional state in general today? (Calm? Stressed?)
  • How do I feel about buying it? (Happy? Excited? Indifferent?)
  • How long will this feeling last?

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MORE IDEAS FROM THE SAME ARTICLE

Kakeibo translates as "household financial ledger" and is a simple approach to managing your finances.

  • Leave the item for 24 hours. If you still want it and can afford it, then make the purchase.
  • Don’t let “blowout sales” tempt you. Ask yourself if you would buy the item if it were full price.
  • Check your bank balance first thing every morning. It will ensu...

The idea behind kakeibo is to help you understand the relationship with money by keeping a ledger with all incoming and outgoing transactions.

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