College life is stressful, especially during the winter. From battling cold weather to studying for exams, you have a lot on your plate. But if stress tends to trigger impulse buying, you could end up with something else to deal with—less money in the bank and a long-term habit.
How to Stop Impulse Buying
We’ve all done it—we head to the store for a couple of items, only to end up with a basket full of stuff we don’t need and didn’t even know we wanted. Alternatively, you may find yourself buying new shoes because they’re on sale for a limited time. Impulse buying triggers a positive emotional response, which is why many people may find it easier to buy things on a whim during midterms or finals. If you’re shopping as a way to deal with stress, try these alternatives:
- Go for a walk
- Chat with a friend
- Watch a movie at home
- Practice yoga and other at-home exercises
- Trying new recipes
Distracting yourself from the impulse buying urge for a little while can cause it to lose its appeal. You may even forget that you wanted to go shopping after getting engrossed in another activity. Pay attention to when these urges occur to find out what’s causing them.
How to Stop Overspending
Learning how to stop impulse buying is a huge first step. Once you’ve learned how to conquer temptation, curbing general overspending is a lot easier. Keeping lists for groceries, household supplies, toiletries, cosmetics, and other expenses can help prevent last-minute trips to the grocery or discount store.
Plan your purchases, and look for digital coupons and sales. Hit the stores when you’re relaxed, but avoid shopping when you’re tired and your defenses are down. Be sure to eat before you shop for groceries to avoid tossing every variety of cookie known to man into your cart.
Get the Right Tools for the Job
Tracking your money is a must. You can’t protect your bank account balance if you don’t know what’s in it and how much you’re spending on a daily basis. Varsity offers a mobile app and digital wallet to simplify your efforts. Check out these time- and money-saving features:
- Pay your bills
- Debit card alerts
- Transfer funds between accounts
- Online and mobile banking
- Contactless payments
Varsity helps you establish solid habits now for long-term financial success. We make it easy with digital access to helpful tools so you can track your progress anytime and anywhere. From understanding how to stop overspending to knowing where all your money goes, we want to help you build knowledge that will last a lifetime. Open an account with Varsity today!
