When it comes to making mistakes in spending, it’s not the the overspending on everyday items where I see people make mistakes. Rather, it’s the impulse purchases that we mostly regret. Usually the story goes something like, “we weren’t looking to buy anything, we just went into the store,” and before they knew it they got buying “fever” and walked out of the store with a big purchase that they weren’t planning on making.
How do we get over that buying “fever?” The first thing we do when the fever start is to exhale and take our time. Granted the salesman is going to rush you into buying today; it’s their job. But most of the time, if you take a step back and sleep on in it for a day or two you will make much better buying decisions.
The second thing to do is to remember your plans and goals. We make purchases when we get the “fever” because we are living in the moment. But when we sit back and realize how much this purchase will costs us in other areas of our life, it makes it easier to say no.
Finally, we need to stay away from the temptation altogether. This probably sounds obvious, but it is amazing how many people who are “just looking” come back home with a brand new car or have found the house that they couldn’t live without. The thing about buying “fever” is that it doesn’t go away by just looking; it only gets worse.
We all get buying “fever” at one point or another and sometimes we would rather make an impulse purchase then plan ahead. But by taking our time, remembering our goals, and staying away from temptation, you will be able to overcome buying “fever” and let it pass. This will later put you into a position to make the purchases when you are able.
Do you have any buying “fever” purchases you would like to share? Or have you ever turned away from a fever? How did you overcome it and what was the result?