Is your online shopping getting a little out of control? Do you want to slow down your spending and reduce those digital purchases? Then, you should read these simple tips for curbing your online shopping.
How Do You Know You’re Overspending?
While there’s nothing wrong with online shopping, there’s a problem when your online shopping habits start to have a negative effect on your personal finances. If you’re not sure what those negative effects are, here are a handful of examples that you might recognize:
- You’re breaking your budget
- You’re putting accounts into overdraft
- You’re racking up debt on your credit cards
- You’re draining savings accounts meant for other goals (for example, emergency funds)
All of these things put you in a very vulnerable financial position. What will you do if there’s an emergency? What if your car breaks down or your plumbing leaks, and you need to pay for urgent repairs? If you don’t have any savings leftover from your paycheck or savings account, you’re going to panic about how you’ll deal with the terrible problem.
If you’re ever in this tricky situation, you can use your credit card to cover an emergency expense quickly and then pay down the balance later. You should only do this when your current balance is well below the limit. Another option that you can turn to is an online loan. If you’re approved for an online loan, you can use the borrowed funds to handle the emergency expense and then focus on repayments after that.
When searching for online loans, check for options that are specifically available in your state. So, if you live in Phoenix, you’ll want to search for online loans in Arizona to get help for your emergency. You don’t want to send in an application for a loan that isn’t available in Arizona at all.
How Can You Stop Overspending?
1. Let It Sit
One simple trick that will stop you from spending so much online is to leave your item in your cart for 24-48 hours. When that time is up, go back to your cart and see if you want to go through with the purchase. You might find that the pick doesn’t bring the same jolt of excitement anymore. That’s a sign that you should empty your cart and save your money.
2. Remove Your Info
Is your credit card information saved on your favorite retail sites? That will only encourage you to spend impulsively. So, take some time to remove your credit card information from the site’s payment methods. You can also remove your credit card information from browsers like Google Chrome, Firefox, Safari and Microsoft Edge.
3. Block Ads
If targeted ads always tempt you into spending money, you should put more effort into blocking them. Go into your computer and smartphone settings to turn off personalized ads and disable cookies. You can also invest in ad blocking apps to keep your biggest shopping temptations at bay.
4. Find an Alternative
Do you spend more when you’re bored? Stressed? Upset? Then, you need to find a more affordable hobby to help you cope with these unpleasant feelings. Whenever you get the urge to spend, try a different activity that’s bound to give you the surge of dopamine that you’re looking for. Play a video game, read a book, call up a friend or go for a walk outside!
Follow these simple tips to get your online shopping habits under control and get your finances back in shape.
