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Shopping capitalism

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Impulsive buying refers to the process of buying a product or a service without analyzing whether you really need it or not. Many people with a good source of income or sometimes, even when facing a financial crisis, engage in impulsive buying especially when one is bored. Engaging in impulsive buying has been made easier because of the eCommerce stores that not only allows the users to buy a product at the click of a button or tap but also by delivering the purchased product right at the doorstep with the help of logistic services like YRC. Therefore, it has become all the more important to stop and then analyze whether you are engaging in an impulsive shopping spree or not. You can stop impulsive buying by asking yourself the right questions. Here is a list of questions that you need to ask yourself before you tap on the buy tab or start actual shopping while doing window shopping.

1. Do you really need it?

When you are speculating whether you should be buying a product or not, ask yourself whether you need the product or not. The answer to this question can be figured out by asking two additional relevant questions. The first question is whether you own something similar that can get the job done and the second is whether you will be using the product or not. Answering the former questions will help you in figuring out whether you need the product for real or not.

2. Can you wait to buy it?

Sometimes, we end up engaging in impulsive buying simply because we love it. If you want to buy a product simply because you love it, do not buy it immediately. It is recommended to add the product for two days in the cart if possible and wait. The time duration will allow you to figure out whether you really want that in your home or not. This will help you in gaining some clarity about the utility of the product.

3. Can you borrow or trade it?

If you are thinking of buying a drilling machine to nail a photo frame on the wall, you need to stop. It is because most probably, you will find someone who can lend you a drilling machine or get the same service done at a much lower price. If you can borrow or trade a product, do not buy it.

4. Use cash to make the payment

Digital payment is the new norm because it is so easy to pay digitally. However, digital payment has destroyed money management skills for many. It is because when one makes a digital transaction, they do not even feel like they are buying. Therefore, when you are making a purchase, try to hand out cash instead of paying digitally. If you are buying an online product, opt for cash on delivery option. Many logistics companies like SF Express allow customers to pay cash once the product is delivered to them. It is proven that handing out cash is relatively harder than paying digitally. Make the process of engaging in impulsive buying difficult for yourself.

5. Do not save your card numbers for easy payment

Most eCommerce websites provide users with the option to save their card number to make the payment process further easier. Do not save your card numbers for easy payment. If you want to stop yourself from impulsive buying, you will have to make the process of engaging in impulsive buying difficult and this also includes making payment for buying a product too. Stop your devices from auto-filling your card numbers and delete them from them.

6. Stick to a budget

At the beginning of a month, create a budget and stick to it. Do not make the budget extremely rigid. Create some space while making your budget for shopping too. However, it is important to fix an upper cap for the amount of money that you want to spend on your shopping. Once you have created this budget, no matter how much you are tempted to go beyond your budget, do not do it. There are many money management apps that will warn you when you are about to go beyond your budget, use them to ensure that you are well within your budget.

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