How Reflecting on Your Possessions Can Curb Impulse Buying

The office supplies aisle at my local pharmacy has a sneaky way of lightening my wallet. You might think avoiding this section would be a simple solution, but almost every time I find myself there, I suddenly feel the urge to buy mechanical pencils and perhaps some colorful sticky notes too.

While part of this issue stems from my personal love for office supplies, my ever-growing collection of highlighters speaks to a more common dilemma: the challenge of resisting impulse purchases. A study conducted by Rice University in 2018 suggests a straightforward and cost-free strategy to curb impulsive spending: simply think about the items you already possess.

Here’s how this mental exercise can help you save money while preventing more notebooks and binder clips from making their way into your home. (See also: 10 Classic Impulse Buys We Need to Stop Falling For)

Reflect on your current belongings

The study from Rice University involved one group of participants describing an item they had purchased, still owned, and used recently. For example, a 29-year-old woman noted:

“I recently got a Kindle Fire. It’s black and allows me to read books and browse the internet. It opens up a new world of possibilities for me. I read a book in bed and checked the weather this morning without getting out of bed. I spent about 45 minutes using it and downloaded several apps. Lying down, the Kindle made it easy to read quietly without waking my partner.”

The key part of this reflection involves recalling the “recently used” aspect, which appears crucial for diminishing the desire to buy new items. Another group was tasked with planning to utilize items they already owned but hadn’t used for a while, while a third group served as a control and was simply asked to remain inactive.

Interestingly, those in the first group who reflected on an item they had used recently were 14 percent less likely to express interest in purchasing something new compared to the control group. Conversely, the planning group, which had acknowledged their unused possessions, exhibited an increase of about 6 percent in their willingness to spend on new items compared to the control group. (See also: 8 Ways Social Media Tricks You Into Spending More)

Utilize gratitude to combat impulse buying

So, what caused the planning group to show increased spending willingness? Logically, one would believe that thinking about the unused items at home should dissuade new purchases. After all, why invest in something new when you have things gathering dust at your place?

Yet, impulsive buying is inherently an emotional choice. Therefore, trying to suppress it with logic may be ineffective. It’s akin to attempting to extinguish a fire with an ice cube. Instead of using rationality to counter an emotional action, it is necessary to counteract it with another emotion.

Gratitude, in particular, has been shown to diminish impulsive urges. A study from 2014 published in Psychological Science found that those prompted to feel grateful demonstrated lower levels of impatience when waiting for financial rewards.

Impulse purchases may often stem from an emotional gap that one is attempting to fill. For instance, my decision to buy a new pen is less about the pen itself and more about the fleeting excitement of acquiring something new. This thrill can temporarily distract me from feelings of boredom or frustration.

However, reflecting on feelings of gratitude can shift this perspective. It’s hard to feel an emotional void when you’re focused on the abundance in your life and appreciative of what you already possess.

In this light, it makes sense that participants in the Rice University study who recalled a recently-used item they owned were less inclined to spend. They were unknowingly able to feel grateful for their possessions, which likely lessened their desire to buy more.

Leveraging this practice in your own life

So, the next time you’re tempted by a display of planners or dry-erase boards (or any other tempting impulse buys), take a moment to think about an item you already own. Specifically, try to remember:

The cost of the item.
When and where you purchased it.
What the item looks like.
When you last used it.
The way you used it.
What you enjoyed about using it.

Chances are, by the time you finish this reflection, the allure of your potential impulse buy will have diminished. Not only does this thought process provide a critical pause between desire and purchase—which gives you the opportunity to realize that you truly don’t need yet another notebook—but it also fosters a sense of gratitude for what you already own. (See also: 7 Simple Ways to Mitigate Budget-Busting Impulse Purchases)