Once upon a time and not really long ago, paper dollars and cents were the major mediums of exchange? The paper check had its moment, then the debit card made its debut. Now we have Apple Pay, PayPass, PayPal, and online transactions; it feels like tangible money is slowly disappearing. We are getting so detached from currency that many people don’t even like accepting cash as a form of payment anymore—they would rather people use Cash App or Venmo to pay them. To be honest, the convenience of it all is awesome because it literally allows you to buy something with one click, fast and easy.
But is this a good thing or a bad thing? It can be both depending on how it is used. For purchasing things that you need, shopping while mobile can save you time and money. But if you are easy to succumb to impulse buying then shopping while mobile can be detrimental to your budget and financial freedom aspirations. As it relates to your personal finances, not using cash can lead to overspending and being unaware of how much you have in the bank. Apps that are attached to your debit or credit cards make it so easy to buy items on impulse that you can blow your budget in a matter of seconds. I once bought 10 “Majek #3 Hybrid Rescue Utility Red & Blue Golf Headcover Knit Pom Pom Retro Classic Vintage Head Cover” on Amazon because it was on sale (and I don’t even play golf.)
In effort to save the world (and myself) from buying things we don’t need, I’ve crafted four methods for you to put to use.
Don’t Enable That 1-Click Ordering Option on Amazon.
That 1-Click ordering button is like that hot fudge sundae sitting in the fridge when you are on a diet or fasting. You should clear the kitchen of any weaknesses. The same goes for the 1-Click option. Having it enabled doesn’t give you an opportunity to think about your purchase.
Remove All Credit Card Info.
Besides security precautions, removing all credit card info from your phone, laptop, or tablet and manually entering in the details gives you at least three to five minutes to really consider your purchase.
Unsubscribe to Shopping Sites.
Say no to site sign-ups and subscriptions from your favorite shopping sites. You will wake up to an inbox full of must-haves and sales that you really don’t need.
Designate an Online Shopping Day.
Depending on your shopping habits, consider taking a day out of the week or month to conduct some cyber shopping. Commit to that day or date. One of the major issues is placing orders randomly; it may not seem like much, until you view your monthly statements.
What are some ways you can stop yourself from buying unneeded items? Please comment below.
The views and opinions expressed by the author are not necessarily those of BankMobile. The blogs are intended as general financial knowledge that may or may not be applicable to your individual needs. Always contact your accountant for tax advice.
All company/product/service mentions in this post are not intended as an endorsement and the views of that company do not represent the views of BankMobile or Customers Bank.