Find out how to recognize when impulse shopping is a problem, what to do about it, and how you can manage growing debt.
Lured by convenience, free shipping offers, flash sales, deal sites, or coupons, millions of American fall prey to the world of online shopping. The beauty of this routine lies in its accessibility — all you need is a credit or debit card and a Web browser. But it’s easy for this occasional habit to turn into a binge or a full-fledged addiction. Financial experts Nicole Lapin and Farnoosh Torabi share how to recognize when impulse shopping is a problem, what to do about it, and how you can manage growing debt.
Stick to a 24-Hour Cooling-Off Period
If you window-shop online, another way to tackle overspending is to stock up your online shopping cart but refrain from checking out. Step away from your computer, log out of the website, or close out of the browser window and wait at least 24 hours before returning to your cart. This time frame gives you the chance to calm down and rethink what you initially wanted to buy. It’s like a fake binge that you can indulge in without going overboard. Lapin suggests pinning your coveted items onto an inspiration board on a site like Pinterest so you can still revisit your board and consider your wish list thoughtfully instead of impulsively.