How to Stop Impulse Spending

1. Stick to a Budget

One of the best ways to stop impulse spending is to create a realistic budget you can stick with. Include necessities like groceries, plus your other monthly expenses such as bills and loan payments. You can also add discretionary spending into your budget to make room for an occasional splurge.

A budget helps you know exactly how much cash you have available to spend for the budgeted time period—be it a week, a month or a year. As you spend, you can track it against your budget to see how much is left for extras. That way, you can check your budget to see if there's wiggle room the next time you're tempted to order takeout or make an impulse online purchase. If it doesn't fit into your budget, it's probably best to hold off until you have the cash.

A budgeting app makes it easy to make a budget quickly and track day-to-day expenses.

2. Commit to a Waiting Period

Impulse buys are a spur of the moment thing. You didn't plan to spend cash on tickets to a concert, new jeans or the like. But when you see something that triggers an emotional response in you, it can be very difficult to control your desire to just go ahead and buy it. Rather than trying to overcome your desire to spend through sheer willpower, you can implement a system for how you'll react when that desire hits.

One idea is to commit to a waiting period, which is a certain amount of time you'll wait between when you want to buy something and when you make the purchase. When the desire to buy hits, try jotting down the desired purchase. Then, commit to waiting three days or a week before you buy it. You'll often find that when the initial allure wears off, you're able to pass on that purchase after all.

3. Find No-Splurge Ways to Treat Yourself

The desire to treat yourself is natural and largely positive. But if the things you buy impulsively to soothe, reward yourself or uplift your mood are burning a hole in your wallet, consider shifting your mindset toward free or cheap indulgences.

It's still possible to treat yourself without breaking the bank. Here are some ideas to try:

• Spend a morning binge-watching your favorite show in your pajamas.
• Make yourself a cup of tea or coffee and take it with you for a walk through nature.
• Rent a movie and pop some popcorn—it's cheaper than hitting the theater.
• Give yourself a spa pedicure using whatever you have around the house.
• Take a trip to the library and check out a book that excites you.

4. Join an Accountability Group

A financial accountability group is a small in-person or online community of people working toward improving their finances together. Joining an accountability group gives you a place to share your goals and discuss your progress with others.

You might find that social support motivates you to stick with your budget, and that having someone to talk to about both your budgeting successes and your impulse spending challenges can make beating the habit attainable.

5. Beware Emotional Spending

It's common to buy something you don't need when you're feeling overwhelmed by an emotion, good or bad. It's especially tricky to overcome the desire to spend when emotions are running high. But practicing mindfulness can help you avoid buying something you'll regret in the heat of the moment.

It may sound obvious, but one of the best ways to avoid emotional spending is to simply ask yourself this question before you swipe: Do I really need this? That can help you wade through whatever you're feeling to view the purchase from an objective standpoint.

6. Set a Motivating Goal

One way to stop buying things you don't plan on buying is to set your sights on something you really want. Instead, come up with a financial goal that you find personally motivating. Maybe you want to save for a down payment on a house, finally pay off all your debt, save for a wedding one day or buy a new car in a year.

Whatever it is, write down the goal on paper and come up with a plan to get there, such as adding money monthly to a sinking fund. Then, visualize that goal when considering unplanned discretionary purchases. You can even give your sinking fund a related nickname in your banking app, such as "Europe Trip" or "Dream Wedding" to really drive home your desire to save.

7. Find Replacements for Your Urges

If you're prone to making impulse purchases in the same general category often, look for alternatives that fulfill the same desire. The key is to work with your urges, not against them.

For example, if fast food is your budget's nemesis, try keeping snacks in your car for the commute home and meal prepping to make feeding yourself on weeknights a breeze. If you struggle to say no to going out with friends, find cheaper ways to socialize—such as having people over for a potluck or heading to a park for a hangout session instead.

Frequently Asked Questions

The Bottom Line

Impulse spending is fairly common, so don't be too hard on yourself if you find yourself buying something without thinking. But dwelling on past mistakes may only increase your financial stress, making it more difficult to get back on track and make better financial choices.

Still, it's important to keep impulse spending in check. Even small purchases add up over time which can be really destructive to your budget or even lead to debt. Finding ways to curb your spending can help you build financial stability and feel in control of your money. To start, try unpacking the reasons you splurge, tracking your spending and sticking to a spending plan.