We’ve all been there: You just got back home from a long day of work and your stomach is growling. You decide to head to the kitchen to whip up some dinner, but upon entering the pantry, your eyes fall upon baren shelves. That’s when you realize you haven’t been to the grocery store in far too long, and figure there is no better time than the present to take a trip. Once the grocery shopping commences, you wonder who is in control: you or your vacant belly? Things that were not on the grocery list become “must-have” items that sound incredibly appetizing. The cashier rings up your total, setting you back much more than you intended to spend. Why is this such a common phenomenon?

Impulse purchases are a natural reaction caused by our human nature. The more urgently that we need something, the more impulsive we are about acquiring it. Instead of being proactive, we become reactionary. This costs us financially, as we are not able to shop around to find the best deal. We also sacrifice quality, as there is no time to inform ourselves on the caliber of competing products. Time is our best friend when it comes to avoiding impulse purchases. By stepping back and taking a moment to evaluate the situation, rational thought can be used to gain clarity on whatever decision is best for you.

This rings true beyond the grocery store. For example, sporting events often allow guests to bring their own water bottle into the stadium. Doing so avoids the high price for a bottle of water bought within the event. By planning for expected needs, the chance of impulse purchases occurring are lessened. This not only allows you to save money, but allows you to select your favorite products beforehand. In this example, the stadium might only sell a brand of water that you do not like. However, when you select your own prior to the event, you are free to choose whatever brand you desire.  

Planning is essential to saving money. When you know what you are going to pay for ahead of time, you give yourself the ability to compare multiple options at different price points to determine the optimal choice. By avoiding impulse and unplanned purchases, you can avoid overpaying for underperforming products.