Wishlist to get rid of impulse spending

Contrary to what many people think, a wishlist is not just for special occasions.

In fact, this type of list is used by couples who are planning to get married.

As a result, they create a wishlist to tell their family and friends what they would like to receive as a gift.

But, as said, this type of list cannot only be used for special occasions such as a wedding.

This type of list can also be called a shopping list and is an excellent tool to help you keep your spending under control.

Read on and find out how to apply the strategy in a simple way.

What is a wishlist?

This list serves as a record of all the things you want to buy.

That way, when you see a product or a promotion on social media, instead of automatically buying it, you put it on your list.

This gives you a space to stop and think about the purchase before you spend money.

It’s also worth mentioning that the list can be detailed.

In this sense, you put all the information you can, including the product you want to buy, its value, the best store to buy it from and the day you want to make the purchase.

At the same time, you can choose to make a non-detailed list.

In other words, just put the name of the product you want to buy and that’s it.

In any case, it’s important that you follow a few rules to ensure the success of your strategy.

We’ll get to know the rules right after we understand the importance of this type of list.

Why do people use wishlist?

The shopping list is used especially to avoid impulse buying.

It’s hard to keep in mind everything we want or need to buy.

That’s why, when we go to the mall, we run the risk of buying several items that we find interesting, instead of buying what we really want or need.

Once you’re able to organize yourself, you’ll stop buying unnecessary items, and you’ll finally be able to achieve your big dreams.

With a wishlist, you learn to focus because when the time comes to buy, you’ll have it in your hands and won’t be distracted by other products or promotions.

And it certainly helps to organize your finances.

There are many stories of people getting into debt because they bought things on impulse.

When you tackle the problem at its root, you start to have a more fulfilling financial life.

In this sense, you can move on to bigger goals such as saving money.

Finally, understand that the list gives you time to budget and save for a purchase, as well as allowing you to compare prices.

If you have a shopping list, you’ll organize yourself to buy the items you want, and you’ll make the purchase at the right time, when you have the money.

In other words, you won’t be using a credit card to pay for purchases in installments for the rest of the year.

In this case, you’ll have the time you need to get the money together and buy it with cash.

And of course, waiting a while to buy allows you to access good promotions, coupons and more.

What does it mean to make a wish list?

Now let’s explain how the wishlist works and the main rules to make the strategy work for you.

First, make sure that every time you want to buy something, you write it down on the list.

If you’re using Instagram and come across a lipstick you like, don’t just go to the website and buy it.

Go to the list and add the lipstick to buy it at the appropriate time.

So the second rule is obvious: don’t buy anything that isn’t on the list.

Certainly, there may be exceptions, but in general, it’s fundamental that you buy with planning, so everything should be on the list.

Thirdly, wait.

This helps you define what you really want to buy and, of course, will ensure that you have enough money for it.

If you take this rule seriously, you’ll notice that some items will stay on the wishlist for months.

So if you bought them, you would have lost money.

Dividing by category is the next step.

To do this, you’ll also need to choose the tool you’re going to use to make the list.

In general, we recommend using the notes app on your phone, adding the category and each item in the form of a to-do list.

As a result, as soon as you buy the item, you’ll mark it as finished.

Remember that this can also be done in other apps or with pen and paper.

But the ideal way for this strategy to really work is for it to be simple.

If you can look at or modify your list at any time, the better.

As for the categories, know that they vary according to each person.

You can categorize things for the home; skin and hair products, clothes, make-up, shoes, accessories, fashion, etc.

Other tips

The important thing is that you don’t leave out the category of expensive items on your wishlist.

In this category, add items that you believe have a high value, but which are actually part of your dreams.

Note that this value varies according to each person, because US$400 can be expensive for some, while for others, expensive items cost over US$1,000.

An interesting tip is to buy it as a gift.

For example, put your dream cell phone on your list and save up money for a few months.

Then, on your birthday, you can give yourself a present by buying a cell phone.

Finally, the next rule is to take anything you don’t need off the wishlist.

An item can be classified as not necessary when it has been on your list for months and you no longer have any interest in buying it.

Half the things you add to the list, you’ll want to take off later, so this is a fundamental step.

Daniel 29 de April de 2024