Top 10 Impulse Buys to Avoid
We all make impulse purchases. They can make for funny stories, but according to brandongaille.com, the average person spends over $110,000 on impulsive purchases in their lifetime. When it comes to saving money, cutting back on these purchases is a great way to start. We compiled a list of some the most common items you may be tempted to purchase in the near future. Stay vigilant! They are out for your wallets.
1. Candy and Gum
“little joys” (CC BY-SA 2.0) by ginnerobot
The five-year-old in all of us doesn’t really wake up until we’re checking out at the grocery store. Mom and Dad never let you get that candy when you were younger, and now we are making up for all those lost opportunities. Don’t do it. A few candy bars are harmless, but it adds up.
2. Anything and Everything that is on “Sale”
“SALE” (CC BY 2.0) by renaissancechambara
If it’s a deal you just can’t pass up, that’s probably a good indicator you should pass on it.
Photo: Marcin Konsek / Wikimedia Commons / CC BY-SA 4.0, 2014 Erywań, Damskie buty na wysokim obcasie na witrynie sklepowej, CC BY-SA 4.0
In the moment, you must have them. When the moment passes, you end up with a closet full of shoes that only match a few outfits or are too nice to wear day to day.
4. Extended Warranties
You’ve been saving for months to buy that shiny, new laptop. You finally go in to buy it only to then consider spending an extra couple of hundred dollars for what amounts to a really specific, poorly written insurance policy. Be honest, that wasn’t the plan.
“Toilet paper” (CC BY 2.0) by Substance90
These magazines are like the fast food of the journalism industry. Nobody really claims to buy them, but the numbers speak differently. You know who you are. You can get your Kardashian fix basically anywhere else, and for free.
6. Store Credit Cards
“rainbow of credit” (CC BY 2.0) by frankieleon</div
Reaping the benefits of a discount at checkout may seem foolproof, but remember to weigh the benefits and risks of signing up for another credit card.
7. Insert Any Trendy Kitchen Gadget Here
When was the last time you sat down and grilled up some paninis with the premium panini grill you bought? Or maybe made some authentic Italian gelato in that top-of-the-line ice cream maker? This isn’t Iron Chef. You know that those will never get put to use.
8. Gym Memberships
Besides that one little New Year’s Day jaunt that everybody seems to take, many memberships never make their money’s worth. So, shield your eyes from the shiny equipment and cancel that one free training session. You can work out without the premium. Maybe grab those sneakers you bought a while back but never wear?
We all know those designer coffee drinks can be delicious, but it’s time to face the facts. Let’s say you buy a $5 drink, three times a week. That seems reasonable until you realize you’ve created a $60 per month habit. Buy yourself a drip coffee maker and learn firsthand the concept of “return on investment”.
10. Selfie Sticks
These purchases seem to be a bit more isolated. But ask yourself, did you ever actually plan to buy one of those things? Probably not.