Tips for Avoiding Holiday Impulse Buying – EP133

Tips for Avoiding Holiday Impulse Buying – EP133

The holiday season is upon us and one of the biggest pitfalls to blowing our budgets is impulse spending! On this episode we explore how stores, whether in person or online, prey upon our tendency make impulsive purchases and what we can do avoid these traps and not overspend!

Sponsors: 

  • Debt Free Christmas Planner- Every year you have the best intentions about controlling your holiday spending and every year you forget something. That’s why Jen made this FREE Christmas planner to help you  record every cost and stay on budget this holiday season. This planner will help you keep track of your spending on family traditions, recipes, dinners and parties, gifts and more to make sure you don’t miss anything. Then use the 2021 planning chart to make sure you’re on track to saving the right amount next year! If this sounds like something you need head to frugalfriendspodcast.com/holiday to get your free planner.
  • 2021 – Looking for a year that won’t that won’t bring you widespread panic and global chaos? Try 2021. The holidays signal the end of the year. They actually feel like a year unto themselves so that means 2021 is just around the corner. We hope that brings you joy. 2021, We can’t make any promises but it’s probably going to be better than 2020. Maybe.

Notable Notes:

What the Internet has to say:

This article from Square Up gives us a behind the scenes look at how companies capitalize on impulse shoppers.

What Jen + Jill have to say:

  • “impulse buying – not a pre-meditated purchase” 
    • Gamify shopping- don’t play the game, eliminate the temptation
  • Give them a deal- stop buying things because they’re on sale!
  • Emphasize self-care- find free ways to care for yourself
  • Go beyond seasons greeting- businesses want to get more money out of you because it’s cheaper than finding a new customer.

More from the Internet:

This article from Moneyning provides us with 10 tips to avoid impulse spending over the holidays.

More from Jen + Jill:

  • Understand why you buy
    • A.k.a. ‘Protect your vulnerabilities’ (nostalgia, clearance, desire to be the best aunt ever!)
  • Shop alone – especially if swayed by your kids!
  • Shop online – can help with distraction of other things (but keep the previous article and warnings in mind!)
  • Translate price to hours worked – OOHHH I LOVE THIS ONE! Such a tangible way to determine if it’s worth your hard earned cash
  • Lower your daily spending limit – this will put more checks and balances in place
  • Don’t go hungry
  • Use a prepaid card- gift card
  • Walk around the store
  • Freeze credit cards for the month
    • Icebox – every ‘buy button’ puts it on ice
  • Don’t give everyone a gift!

BILL OF THE WEEK – Thank you Becky for sharing your bill about Bill Shakespeare!! Your local library program sounds amazing! Also we love libraries too 🙂

If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill

This bill was sponsored by PolicyGenius: Shopping for insurance can seem like a daunting task, but Policygenius makes it easy and saves their home & auto customers an average of $1,127 a year. They do the hard work for you by finding the lowest quotes from over 30 top insurers. Head to Policygenius.com right now to get started and make sure you’re getting the best rates on your home and auto insurance.

Lightning Round

Holiday shopping plans

  • Jill- I have started a list already and have some inexpensive and thoughtful ideas; 1 perk of moving away is I can’t carry much with me when I visit people at the holidays!)
  • Jen– I may indulge in Black Friday, Kai will get gifts from his birthday, everyone else will get gift cards.

Don’t forget to visit frugalfriendspodcast.com/holiday to get your free Debt Free Holiday Planner so you can keep your Thanksgiving and Christmas expenses on budget.

Wrap-up:

Thanks so much for listening! Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to frugalfriendspodcast@gmail.com. AND share our most recent episode on social for a chance to win a copy of the Frugal Friends Workbook!

Thanks for listening! See you next week!

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