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Starting Today You Can Stop Online Impulse Spending If You Follow These 7 Ways

Starting Today You Can Stop Online Impulse Spending If You Follow These 7 Ways

Online shopping is the best kind of window shopping you can do! You can sit around in your pajamas, regardless of the time of day, and shop for anything you can imagine. Unfortunately, this means it’s way too easy to let yourself spin out of control. Time flies when you’re surfing the Internet, and you might not even realize how long you’ve been shopping or how much you’ve spent. Check out these tips on how you can stop online impulse spending.

1. Pay from a single account.

Having multiple accounts makes it harder to keep up with your finances. Whether you use a bank account, credit card or Paypal account for online purchases, make sure you use just one of those. That way you can always know how much you have in the account and how much you’ve spent.

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2. Don’t save your credit card information.

One-click checkout is the easiest thing to do when you’re shopping online — it’s literally just one click to enter all your payment information and shipping address! But it’s this ease that makes it more likely you’ll spend more online, because you don’t even feel like you’re shopping. There’s no exchange of money for purchases — it’s all visual, through a computer screen until a box arrives at your door a week later.

3. Unsubscribe from promotional emails.

Sometimes you don’t even think about shopping until you get that email promoting the latest big sale your favorite store is having. Then it just seems stupid to miss out on major savings, right? Wrong! Unsubscribe from promotional emails from any store so you’re not tempted to buy when you don’t need to. You shouldn’t shop just to shop, you should only shop when you need a particular item. Not getting tempting offers in your inbox will help change your approach to shopping – and help you save time checking emails!

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4. Don’t give out your email address when you shop.

Most stores ask for your email now when you check out. They do this just like they used to ask for your phone number — because they want to contact you in the future and try to get you into their store! Instead of giving out this information, just tell them you prefer not to give out your email or phone number. They won’t badger you about it, they’ll just say ok and leave that blank. This will cut down on those promotional emails mentioned above.

5. Limit your time shopping online.

It’s so easy to waste time online just clicking through links, seeing what you wish you could buy if you had the money, checking out what the store recommends for you, seeing what people bought who liked the same item as you. Before you know it, hours have slipped away! It’s ok to shop online because, most of the time, it’s way more efficient than going to stores in your city. But make sure to limit time when you shop (or window shop!) online. Set a physical timer if you need it, but try to keep track of it yourself. Promise to just look for one item, or on one site. It’s way too easy to impulse buy when you’re just surfing the internet aimlessly. When your eyes get tired and you can’t scroll through pages anymore, you’ve probably had enough!

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6. Research every purchase.

Instead of simply clicking to put an item in your cart, do research first. Even if it’s not a major purchase, checking a few websites can help you make the best decision. Read reviews from people who have bought and used the product. Make sure it will last for a long time and does exactly what it says it will do. Make sure you don’t need to buy additional accessories. Check a few other websites and see if you can find it even cheaper, or with free or faster shipping. Sometimes you’ll find that you don’t really need this exact product, or that you’d rather wait to find it cheaper at another outlet.

7. Keep a wish list.

You don’t have to buy everything right now! A lot of websites allow you to keep a wish list, or add things to your cart and save them to purchase later. Or you can keep a list in a text document, complete with links. This ensures that you’ll remember cool things you’ve seen for yourself or others, but you can wait and make sure you still want or need them at a later date, instead of buy them right at that moment when you might not have the finances.

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Featured photo credit: Jorge Franganillo via flickr.com

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Published on July 4, 2018

Top 10 Recommendations on Money Management Apps

Top 10 Recommendations on Money Management Apps

Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

The solution is simple, save more and spend less. But, we all know it’s easier said than done.

One problem is finding quality apps that save you time and money, and aren’t just hype.

Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

1. Personal Capital

    When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

    Here are some of its main features:

    • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
    • Discover hidden fees and how much they’re affecting your retirement plan
    • Wealth management for investors requiring a long-term strategy

    With Personal you’re free to track your expenses and net worth.

    Available for: iOS and Android

    2. Mint

      If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

      Here are some of its main features:

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      • Effortlessly track all your bills and balances in one dashboard
      • Categorized expenses to understand where you spend your money
      • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

      Feel at ease with managing your money by a reputable company that isn’t going anywhere.

      Available for: iOS and Android

      3. YNAB

        Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

        Here are some of its main features:

        • Easily sync all bank accounts in one place
        • Visually see your debt paying progress with eye-catching charts and notifications
        • Customized categories setting saving goals

        The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

        Available for: iOS and Android

        4. Wealthfront

          Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

          Here are some of its main features:

          • Variety of investment account options including IRA, Roth IRA, and more
          • Your portfolio composed of 7 different asset classes
          • Automatically rebalanced portfolio
          • Daily tax loss harvesting

          Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

          Available for: iOS and Android

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          5. Clarity Money

            If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

            Here are some of its main features:

            • Easily cancel subscriptions with one click
            • Synchronize bank accounts fast
            • Transfer money effortlessly between different accounts

            Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

            Available for: iOS and Android

            6. Acorns

              What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

              Here are some of its main features:

              • Automatic contribution option
              • Customized portfolio tailored to your needs
              • Low management fees ranging from $1-$2 per month

              Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

              Available for: iOS and Android

              7. Albert

                Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                Here are some of its main features:

                • Receive notifications for overpayments, hidden fees, and low balances
                • An Automatic budget that’s built around your spending and income
                • Easily track debt and set new financial goals

                While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                Available for: iOS

                8. Prism

                  Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                  Here are some of its main features:

                  • View all your account balances in one glance
                  • Bill due dates are automatically pulled and tracked
                  • Receive early reminders for upcoming bills

                  If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                  Available for: iOS, Android, Windows, Amazon

                  9. Mvelopes

                    Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                    Here are some of its main features:

                    • Connect unlimited bank accounts
                    • Real-time budgeting with auto transaction syncing
                    • Low monthly $4 fee or $40 annual

                    Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                    Available for: iOS and Android

                    10. Wallaby

                      Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                      Here are some of its main features:

                      • Automatic recommendations for the best credit card to use for each transaction
                      • A friendly user interface, displaying credit cards with their corresponding images
                      • Free to use

                      If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                      Available for: iOS and Android

                      Take control of your finances and experience financial freedom

                      Picture yourself staying on budget and saving more money than you’d ever imagined.

                      It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                      You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                      Featured photo credit: Pexels via pexels.com

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