We’ve all been there. We walk past an end cap, or walk up to the checkout at the store, you think to yourself, “Oh I could use this snack!” Or, this product will make my life easier! It’s no fluke! It’s not happenstance. Retailers and marketers work really hard to get you to spend more. This leads to impulse purchases, or impulse spending.
Impulse spending is a common financial problem that many people struggle with. Including me! My kryptonite is walking into my local Menard’s. I go there for a new chain for my chainsaw. There is only one thing on my list. I need to process a fallen tree from a recent storm. However, as we walk in, we are slapped in the face with this isle littered with eye-catching products and screaming flash deals! We see insane “deals” on snacks, candy, electronics, seasonal items. (currently fireworks as we approach the 4th of July), and marked-down or clearance products. This is in hope to get customers to buy these things impulsively. Impulsive spending, or purchasing Is the act of making unplanned purchases without considering the long-term effects on your budget and financial health. Whether it’s grabbing an extra item at the checkout line or splurging on so many different products during a sale, impulse spending can quickly derail your financial goals. We’ll try and explain what impulse spending is, why it happens, and provide practical strategies to help you avoid it.
Contact Chris:
https://heavymetal.money
https://www.facebook.com/MoneyHeavyMetal
https://x.com/MoneyHeavyMetal
https://www.instagram.com/chrisluger
https://www.tiktok.com/@heavymetalmoney
email: chris at heavymetal.money
Contact Dan:
email: dan at corepln.com
https://www.corepln.com/dan-hine
Resources and Links:
https://heavymetal.money/impulsespending/
Please Like, subscribe and share wherever you get your podcasts and on YouTube!
