Have you ever bought something you didn’t need, would never wear/use or that didn’t suit you just because you couldn’t resist? We all do it, from a chocolate bar at the checkout to the latest trendy gadget, we have all bought things we don’t need and fallen prey to the lure of influencers and clever marketing. When times are tough though, we need to be more mindful of our purchases and make sure that we can afford, and only buy the things we really need.
We don’t need everything – many of us have more than we really need, and our houses are creaking under the strain of excessive clutter, creating a stressful environment. It’s time to take stock and review the pull that influencers and other marketing strategies have on us, be that on our business or personal life. Taking back control of your spending will make a positive difference overall.
FOMO
Many of us suffer from ‘FOMO’ or the ‘Fear Of Missing Out.’ It is driven by a need to fit in, a desire to have what others have, and the social pressure to conform and do the same things as our friends, family and other people we admire. It can cause real anxiety and lead people to do many things that seem ‘out of character’ to others that know them well.
Psychologists refer to the “Locus of control,” which is how much control a person feels they have in their own behaviour. It is defined as being either internal or external, and as with most things, exists on a spectrum with most people sitting somewhere in between the extremes.
Those with a high internal locus of control are usually:
- Aware of themselves as being in control
- Confident in their own opinions
- Less concerned with the opinions of others
- Less likely to be influenced by external factors
- More likely to resist social media pressures
People with high external locus of control often:
- Think that they have little control over situations
- Are less confident in their own views and opinions
- Are more susceptible to outside influence
Influencers: 10 Tips To Resist Impulsive Spending
However, since this is a spectrum, there are ways to affect this and gain back your own control and we’ve listed 10 top tips below.
- Reduce time on social media and watching influencers
This is a simple one – reduce the amount of time you spend looking at social media, waching Influencers and advertising. Set limits on your phone or computer and pause the television when the adverts come on. You can skip through them on fast forward after 3 minutes. - Use the controls you do have
All online devices have an off button! However, if you are struggling to limit your time online, then at least reduce the amount of adverts and influences that you are exposed to. Don’t subscribe to advertisers’ channels and unsubscribe, unfollow, or block people or things that feel bad. You can also turn off notifications on a laptop or put it into focus mode to stop you being interrupted. - Know what you really want
It is important to understand yourself well and have good self-awareness if you want to de-emphasise the importance of other people’s opinions. Take the time to work out what you like and what you don’t, which style of clothes/make-up suits you and remember that these can change over time. Your style aged 50 is unlikely to be the same as when you were a teenager! Learn to trust your own judgement and your instincts. - Get your priorities right
When it comes to money, it is important to have a budget and stick to it. Prioritising your important bills such as rent/mortgage, utility bills and transport costs will help you keep your finances on track and reduce the chance of overspending. When you go shopping, create a shopping list and only buy the things on your list. If you always buy yourself a treat, then add it to the list but put a money limit next to it, so you know what you can afford. If shopping with children, get them to hold the list so they are engaged in that, rather than sneaking additional things into the trolley! - Do your research
When you know that you want to buy something, be proactive rather than reactive. Actively search out reviews online and look for diverse opinions and trusted reviews and test sites from companies such as “Which?” or Trustpilot. Review all the evidence and ask others for their opinions. It doesn’t mean you have to take their opinion, but at least you will have heard all the evidence and can make up your own mind based on research. - Learn from your mistakes
Don’t repeat the same errors over again. If you still have items of clothing in your wardrobe that have never been worn and still have the tags on them, take a picture and put it in your purse. That way, you will remind yourself of past errors when you are tempted in a shop. And remember that deals that seem too good to be true, usually are! - Don’t buy in haste
Take time over your purchases. When you are interested in buying something, stop and think:
– Do I NEED it?
– Do I LOVE it?
– Do I have somewhere to put it?
If the answer to any of the above questions is ‘no’, don’t buy it. Another tip is to have a picture of something you really want and are saving up for in your purse so that when you are tempted to buy something else, you can be reminded of the holiday/car/pet you really want. - Understand the marketing
Marketeers and Influencers are clever and they use different techniques to entice you. These include time-limited offers, multi-pack discounts and sales. These can be genuine and lead you to a bargain, but use the tips above to plan your purchases so that you can take advantage of genuine offers on the things you really want, rather than have the companies take advantage of you. - Understand the truth
Remember that many influencers present an unrealistic or overly optimistic image of themselves and the products they endorse. Learn to see behind the image to the marketing strategies that are being used and be more discerning about what is real and unreal. - Enlist help if needed
Get a friend to go shopping with you if you feel out of control. You can even give them your purse if you trust them enough!
