Hi there! I’m Zara, and I’m 12 years old. I run a website called Assetsforkids. I want to help kids like you with money. Today, I want to share something really important that changed how I think about spending.
Have you ever seen something cool at the store and just had to buy it right away? That’s called impulse buying. It happens when we buy things without thinking first. Most adults do this too, and it costs them a lot of money!
Here’s a crazy fact: grown-ups in America spend about $150 every month on things they didn’t plan to buy. That adds up to $1,800 each year! Over their whole life, that’s more than $100,000 wasted.
But here’s the good news. Learning to say “no” to these quick buying choices is like having a superpower. When we practice smart spending habits now, we can save tons of money for our future. Trust me, your future self will thank you!
Why I Started Learning About Smart Spending
When I was 10, I always wanted things. I’d see something cool and think I had to have it. I’d ask my parents until they got tired of saying no.
I realized my money habits were bad. Seeing my friends with new things made me feel left out. I thought having those things would make me happier.
But after getting what I wanted, the excitement didn’t last. I’d want something else soon. It felt like my financial goals changed every week!
Shopping made me feel good for a short time, like eating candy. But the feeling didn’t last. I learned my feelings, not my brain, were controlling my spending.
So, I started Assetsforkids to help others. I thought if I struggled, others might too. I wanted to teach us all to make smart choices with our money.
| Before Learning Smart Spending | After Learning Smart Spending |
|---|---|
| Wanted everything I saw | Think before I buy |
| Happy feeling lasted 1-2 days | Focus on long-term satisfaction |
| Emotions controlled my spending | Make logical money decisions |
| Always felt like I was missing out | Feel confident about my choices |
What Are Impulse Purchases and Why Do We Make Them
Ever felt like you just have to buy something cool right away? That’s an impulse purchase! It’s when you buy something without planning to. Like buying chips, a new phone case, and candy bars when you just wanted milk.
I used to make impulse buys a lot. I’d see a toy and think “I need this right now!”. Learning about budgeting for kids helped me see why we do this.
Kids often buy things on impulse too. They might buy candy, trendy clothes, video games, or toys because their friends have them. Does this sound like something you’ve done?
Our brains make us buy things for four main reasons. First, we buy when we’re feeling happy, sad, bored, or excited. Second, we think we’re getting a great deal. Third, shopping makes us feel good because it releases happy chemicals. Fourth, we buy things to feel better about ourselves or to fit in with others.
| Planned Purchase | Impulse Purchase | Result |
|---|---|---|
| Made a list beforehand | Saw it and wanted it | Overspending |
| Thought about it for days | Decided in seconds | Buyer’s remorse |
| Fits your budget | Uses emergency money | Money stress |
| Really needed it | Just wanted it | Clutter at home |
The good news? You can stop yourself from spending too much. Saving money gets easier when you know why you want things you don’t really need.
The Power of Saying No to Impulse Purchases
Learning to say no to impulse buys is like having a secret superpower. When you say “not today,” you’re taking control of your money. This isn’t about being mean to yourself. It’s about making smart spending decisions to reach your goals.
I used to think saying “I can’t afford it” made me feel bad. But then I learned something amazing. I started saying “I’m choosing to save for something better.” This made me feel powerful and in control.
Let me share a real example from my life. Last month, I really wanted this cute phone case that cost $25. Instead of buying it right away, I said no and kept saving. Three weeks later, I had enough money for the art supplies I’d been dreaming about. That felt so much better than any phone case ever could!
Every time you say no to an impulse buy, you’re practicing an important life skill. You’re learning that you don’t have to buy everything you see or want right now. This kind of money management gets easier with practice, just like riding a bike or learning to read.
I have two friends who handle money very differently. Emma buys things the moment she wants them and always runs out of allowance. But my friend Jake thinks about his purchases and saves up for things he really wants. Guess who feels happier about their money choices? Jake always has enough for the things that matter most to him.
Remember, saying no to impulse purchases isn’t about never having fun or never buying anything. It’s about being smart and choosing what’s truly important to you. When you understand that money can’t buy everything that matters, you start making better choices with the money you do have.
My Favorite Tricks to Stop Impulse Buying
I want to share my three favorite questions that totally changed how I shop. These impulse buying strategies have saved me a lot of money. I know they’ll help you too. Every time I see something I think I need, I ask myself these questions before I buy it.
Trust me, these simple tricks work way better than just trying to use willpower. I learned this the hard way after spending my entire birthday money on stuff I forgot about the next week!
Question 1: Do I Really Need This?
This question helps me figure out the difference between wants and needs. I need school supplies and lunch money. I want that cute phone case or new video game.
When I’m honest with myself, most things I want to buy are actually wants, not needs. It’s okay to buy things you want. But it should be part of your financial planning, not a surprise purchase that ruins your budget.
Question 2: Will I Still Want This Next Week?
This is my favorite question because it’s saved me from so many bad purchases. I keep a wish list on my phone where I take pictures of things I want. Then I wait a week before buying them.
You wouldn’t believe how many times I’ve looked at my wish list and thought, “Why did I even want that?” Sometimes I completely forget what I was so excited about. This waiting trick is one of the best impulse buying strategies I know.
I also learned to shop with a list and bring only the cash I need. When I don’t have extra money with me, I can’t make impulse purchases even if I want to.
Question 3: Does This Help Me Reach My Money Goals?
I always think about my bigger goals before spending money. Right now, I’m saving for a new bike and college. When I want to buy something random, I ask myself if it’s more important than those goals.
Small purchases really add up. If I spend $5 here and $10 there, suddenly I’ve spent $50 without realizing it. That’s money I could have put toward something I really care about.
My financial planning includes writing down my goals and checking them before I buy anything that wasn’t planned. It keeps me focused on what matters most to me.
These three questions work because they make me pause and think. Most impulse purchases happen when we don’t stop to consider what we’re doing. Give yourself time to think, and you’ll make much better money choices!
Building Better Money Habits That Stick
Learning to make smart money choices is like any other skill. It starts with practice. Think about learning to ride a bike. It was hard at first but got easier with time.
Building money habits for kids is similar. I kept a spending journal. I wrote down what I bought and how I felt. This helped me see my spending patterns.
Then, I made a simple budget. I split my allowance into three parts: saving, needs, and fun. This made choosing what to buy easier.
I also celebrated my small wins. Every time I avoided a bad buy or saved something, I treated myself. Maybe it was a movie or a snack.
It’s important to remember, you’ll make mistakes. That’s okay! Mistakes teach us about financial responsibility. I’ve bought things I regretted, but each mistake was a lesson.
Start small with your allowance or help your parents with shopping lists. Be patient with yourself. The joy of buying something you’ve saved for is so much better than quick impulse buys.
Building these habits takes time, but every step is important. You’re learning skills that will last a lifetime!
Your Journey to Smart Spending Starts Now
I’ve shared my best tips for saying no to impulse buys. Now, it’s your turn to try them. Learning to make smart money choices early is a big advantage for life.
Start small this week. Choose one of my questions before buying something. Ask yourself, “Do I really need this?” or “Can I wait a day to decide?” These simple steps help build a strong financial foundation for kids like us.
Every time you pause before spending, you’re teaching your brain to think differently about money. Every dollar you save brings you closer to your dreams. Maybe you want a gaming console, to save for college, or start your own business. These habits make all of that possible.
I love knowing my money decisions today help my future self. When I skip buying that candy bar or toy, I’m investing in something bigger. You have that same power right now.
Try one of my tricks this week and see how it feels. Share what you learn with your friends or family. You might be surprised how good it feels to take control of your spending. Remember, making smart money choices gets easier with practice. You’ve got this, and your future self will thank you for starting today.