The section filled with office supplies at my neighborhood pharmacy has a remarkable talent for draining my finances. One might think that simply steering clear of that aisle would solve the dilemma, yet every visit tempts me into purchasing an array of items like mechanical pencils and sticky notes.
While my personal enthusiasm for office supplies plays a role, it’s also indicative of a broader issue: the struggle against impulse purchases. A 2018 study by Rice University reveals a surprisingly simple method to curb these urges: take a moment to contemplate the items you’ve already acquired.
This technique may assist you in preserving your funds while preventing unnecessary additions of notebooks and binder clips to your collection. (See also: 10 Impulse Buys We Must Resist)
Reflect on existing possessions
The study at Rice University tasked one group of individuals to detail an item they had bought, currently possessed, and had used recently. For example, a 29-year-old woman shared:
“I recently got a Kindle Fire. It’s black and allows me to read books and browse the internet. It has introduced me to many new things. I read in bed and checked the weather without getting up. In total, I used it for around 45 minutes and even downloaded several apps. Lying down, the user-friendly nature of the Kindle let me read quietly without disturbing my partner.”
It seems that focusing on a “recently used” item plays a vital role in diminishing the desire to splurge on new products. Another participant group was tasked with strategizing how to utilize items they owned but hadn’t used for a while, while a third group served as the control and did nothing.
Unexpectedly, those in the first group who reflected on their owned yet recently used items showed a 14 percent reduction in their willingness to spend compared to the control group. Conversely, the planning group reported a 6 percent increase in their willingness to make new purchases, despite acknowledging their unused items. (See also: 8 Social Media Tactics That Encourage Overspending)
Embrace gratitude to combat impulse purchases
Why did the planning group display an increased tendency to spend money? It might seem logical that contemplating existing, unused items would deter new purchases. Why buy more when there are already many items gathering dust at home?
However, impulse buying is fundamentally an emotional act, making it difficult for logical reasoning to counteract the urge. This is akin to trying to extinguish a fire with just one ice cube. Instead of relying solely on logic to curb an emotional impulse, it can be more effective to counter it with another feeling altogether.
Gratitude has demonstrated effectiveness in reducing impulsive tendencies. A 2014 study published in Psychological Science found that participants who cultivated feelings of gratitude exhibited greater patience when waiting for a financial reward.
The likely underlying factor is that impulse buys often stem from a desire to fill an emotional gap. My impulse purchase of a new pen isn’t just about the pen; it’s more about the temporary thrill associated with acquiring something fresh. That momentary excitement often distracts me from underlying feelings of boredom or frustration.
On the flip side, gratitude nourishes the spirit; it’s hard to feel a lack when you focus on appreciating the fullness of your life and the possessions you already have.
Hence, it is understandable that participants from the Rice University study, who contemplated a recently-used item, were less inclined to spend money. They were unwittingly offered a chance to appreciate what they already owned, thereby reducing their temptation to buy something new.
Implementing this strategy in daily life
When confronted with an enticing array of products like planners or dry erase boards, pause to reflect on something you currently own. Specifically, consider:
- How much you invested in it.
- Where and when you acquired it.
- Its appearance.
- When you last utilized it.
- How you made use of it.
- What you appreciated about its use.
This exercise will likely diminish the allure of your potential impulse purchase by the time you finish reflecting. Not only will it provide a moment of reflection between desire and acquisition—thus allowing you to recognize that another notebook isn’t necessary—but it will also evoke a sense of gratitude for what you already possess. (See also: 7 Simple Strategies to Avoid Budget-Busting Impulse Purchases)
Enjoyed this article? Share it!
