Impulse purchase

It's such a beautiful tool.

And I know a lot of women beat themselves up for impulse spending and call it lack of self-control, but often it's something very different and so much deeper.

With my husband, I started to learn What is ADHD? And I didn't realize that people will experience impulse differently.

So understanding ADHD kind of gave me so much more compassion on how their brain actually works compared to mine.

I had an impulse buy over the weekend.

I got really excited and I've worked really hard the last couple of years to stop know with the impulse buys and i've been pretty successful but i just gave into it i just leaned into it so as we are recording these and if you're listening you should know that we try to create content that is largely evergreen so uh this might not be out for a couple of weeks but as we're recording this it is two days after uh the cardinals rookie joshua baez hit home runs in his first three professional at bats His first moment in Chrome was in 2022 and I was learning as I was coming back into the hobby around 2020 and I was figuring out who these people were and starting to pay attention to draft picks again for the Cardinals and Baez got picked.

There was no big deal.

He was supposed to be pretty good, but then he got hurt and he wasn't terrible.

The risk was low.

You have a exit strategy, quote unquote, or whatever, if needed.

And, you know, you're not going to be shy to, to move on if you feel the times, but like, so i made an impulse i've made a few impulse buys actually um but the one i made i feel like was more of a boring one and it's i think this just goes to show like how the hobby is so like those bias cards like flying off the shelf or whatever um i i made an impulse purchase um about this This is a Tarek Scoogle, 20, his future stars, 22.

I know you've got the 22 pool.

So the truth is you basically, you don't need to buy something new to start something new.

So data tells us that the average Australian spends $81 a week on unplanned impulse purchases, which roughly gets to around $4,212 a year.

That's a lot of money.

It is.

Plan carefully and you will have plenty.

If you act too quickly, that's called impulse buying, you will never, never have enough.

So you gotta keep good records.

Plan carefully, you gotta know where your money's going.

Now Proverbs 21, verse 20 says this.

Stupid people, that's none of you, stupid people spend their money as fast as they get it.

Now this is called impulse buying.

When you see something, if you don't have a plan, you go into a grocery store, if I don't know what I'm gonna get in that grocery store, I'm gonna come out with eight things I didn't plan to get.

The stupid, the stupid.

But anyway, while I was in Aldi, and, you know, it's one of those items that they put up there for impulse purchase when you finally get to the only cash register that's open.

That's my biggest beef with Aldi.

They got six cash registers, and only one is ever open, and the line's halfway down the aisle.

At one point in time, one of the aisles in the Parker, it's actually Vienna, in the Vienna Aldi, had a Halloween skeleton sitting in the chair with the little Aldi vest on and the little Aldi visor.

I thought it was a nice touch.

But up there by the Impulse Purchase area, they had, get this, Honeycrisp.

Apple soda.

it wasn't my day to buy anything.

So that just helped sort of stop or at least slow down that impulse spending trigger that I had.

So on those four or five days in the month, I would then go back to the stuff that I thought I wanted to buy, and actually, the moment had passed, so I didn't even wanna buy it anymore anyway.

So no-spend challenges really, really helped me.

... what I had, I had a list and I had negotiables and non-negotiables.

So for things like all my bills, utilities, rent, food shop, that would not count towards my no-spend challenge 'cause I would have to buy that anyway.

The point of the no-spend challenge for me was to try and curb my impulse spending.

So it's all the discretional spending that would then be counted towards the no-spend challenge.

that make sense? Sure.

Impulse buying, I think we all experience that from time to time.

Right.

And Taylor, so the part that gets me is buy now, pay later companies zilch.

is is prolific it's the same thing as impulse buying because now you can buy something and you get the goods today and make you know four or five payments the issue that happens with this buy now pay later this company is in the middle between the consumer and the vendor who sells the product What they're finding out is if someone wants to return something a month after they've been into the contract, nobody owns the relationship.

So I'm pretty sure that if you look at the consumer reports, they're going to start talking about, well, how do you resolve this buy now, pay later stuff?

And then you can also get into a situation

Now this progression of price and how it affects readers really occurs in multiple stages.

Stage one, the disappearance of the try it purchase, or the impulse buy if you prefer.

Let's start with the system as it's designed.

A $2.99 comic is an impulse buy.

It sits in the same mental category as a coffee or a snack bag at checkout.

Low enough stakes that liking it isn't really the point.

Maybe add some parenting in there and we have got the recipe for a wild ride.

And so today we are talking about impulse spending.

Now, this is one of the most common things that I get asked about, and so I love being able to record episodes like this because, you know, someone has shared with me an area that they're struggling with their money management and I can create something that's going to be helpful for you.

So if that's you, I want to invite you to my SpeakPipe.

So if you have a question, a very specific thing, let me know.

I want to, I want to help you through it.

So today we're talking about impulse spending and why our money decisions when we're managing ADHD are not necessarily about willpower.

Actually, they're not all about willpower.