10 Online Shopping Habits That Are Secretly Draining Your Wallet

Do you love shopping online? Does it give you an endorphin rush? Well, you aren’t alone. More than 85% of Americans have shopped for items online. And most of them find online shopping convenient. But there is a dark side to it. If you can’t regulate your online shopping, it can become an addiction that drains your wallet. While some people know they have a shopping problem, some can’t recognise the patterns. In this blog, we will talk about online shopping habits that drain your wallet.

1.    Emotional buying

We all go through times when we feel buying something would fix an issue. The propaganda of “treat yourself” has become so common that we buy anything because we “deserve it”.

Had a bad day at work?

I will get myself a nice dress!

Going through something?

I will treat myself with a luxury perfume!

Emotional buying may act as a quick fix, but it can leave a hole in your wallet. So, when you feel like buying just for the heck of it, try asking yourself these questions.

• Do I really need it?

• Do I have the budget for it right now?

• Will this purchase dig into my savings?

Try to sleep on it. Add the product to your cart and follow the 30-day rule. If you still want to buy the item after 30 days, then go for it. You won’t even want most items after 24 hours. So, be mindful about where you spend.

2.    Buying something just because it's on sale

Did you know that 87.3 million Americans made a purchase online last year during the Black Friday Sale? On top of that, a whopping 64 million shopped online on Cyber Monday. This goes to show how much impact sales have on shopping. But the thing is, just because it's on sale doesn’t mean you need it.

Do you really need those polyester pants for $2.99 just because they’re on sale? Where are you going to wear it? You need to have a conversation with yourself about your spending. Think about your purchases. Try to limit your shopping during sale season by planning ahead of time. Get things that have been on your wishlist for a long time and are much-needed.

3.    Shopping without a plan

As they say, “Do not go grocery shopping when you are hungry.” You need to plan when you shop. Whether it's groceries, clothes, or electronics, make a plan and stick to it. Only order the items you need and nothing extra. Put aside a chunk of your money for your necessities.

TIP: Follow the 50/30/20 rule. Allocate 50% to essentials, such as rent, mortgage, utilities, and groceries, 30% to wants, like travel and hobbies, and 20% to savings and debt repayment. This will help you get a better hold of your finances, ensuring you do not overspend on unnecessary things.

4.    Overusing your credit card

How did Carrie afford those Manolo Blahniks? With her credit card, of course. We all know that Carrie was a shopping addict. She spent roughly 40K on shoes! She was a bad spender. While the series may be motivating, it is hardly a smart thing to follow Carrie. If you are also a spender like Carrie, please shy away from using that credit card. Do not use your credit card to make impulse purchases. If it is not in your budget now, then it won’t be in your budget next month. Moreover, if you are in credit card debt, just focus on paying the debt off. Do not use your credit card while paying off the debt.

TIP: Transfer your outstanding amount to another credit card with a lower interest rate, so the amount doesn’t keep adding up. Try making extra payments to pay off your debts.

5.    Getting easily influenced

The labubu craze is a study on how people can get easily influenced into buying anything. These furry bag charms became an overnight sensation, and now everyone has them on their bags. Due to the tariffs, buyers had to pay $28 for each box as compared to $22. But that didn’t stop people from getting it.

If you want to save money, then you need to stop getting easily influenced. Don’t buy into the microtrends. You do not need that Capri or that labubu, or that Stanley Cup! Ask yourself this - “Do you really find it cute, or are you buying it because everyone is?”. Be unique, purchase pieces/items you dearly love and can rewear.

6.    Not looking for offers

People are really sleeping on coupons/offers. Many don’t even know where to find coupons that they can use. If you are shopping online, it will take a minute to Google for coupons. This can save you precious dollars. Try to change your shopping habits and look for coupons every time you shop. Because coupons are cool, and savings are cooler.

TIP: In case you don’t want to keep looking around for promo codes in various places, try GrabOn. This coupons & savings platform has offers on everything under the sun. Just type the brand’s name in the search bar on the website, and you can find fresh coupons. Use them while shopping and save extra.

7.    Not returning items

Most of us tend to buy items on a whim and not return them. Did you buy those cute sneakers, but they fit you funny? But you didn’t return them, because it’s too much hassle. Those shoes will sit in your closet and do you no good. So, if you buy an item online and it doesn’t match your expectations, you can always return it. That is always an option. Read the return & exchange policy on the website before making the purchase. Read the fine print, and save your time and bucks.

8.    Buying things you already have

If you already have similar items, it is best not to get new stuff. You don’t have to buy everything you see. Treat shopping online as visiting a museum. Let’s call it “cultivating a museum mentality”. You can scroll and look at things you like, but you don’t have to get it all. Admire it, you don’t have to acquire it. And if you have something similar, you don’t need it.

TIP: Wishlist the item you want to get, then check if you have something similar at home. In case of fashion buys, check if you can make multiple outfits around the product. If for a new jacket, you need to get new pants and boots; not buying it is a better choice.

9.    Going over budget

“It is a little over budget. But I can get it.” How many times have you said that to yourself? Bargaining with yourself to overspend can have long-term effects. If you do not have discipline while shopping online, you can go way over budget, and that, in turn, can mess with your finances. Remember, spending less than you earn creates freedom, and spending more than you earn builds chains. So, choose wisely.

10. Shopping for status

The thought of “What will people say?” shouldn’t impact your shopping decision. Do not be fixated on brands and the status that comes with them. Not everything that is luxury is necessarily good. For example, look at the tape bracelet by Balenciaga. You pay a thousand dollars for what? You could rather buy what you need, support homegrown brands, and even thrift. Every dollar that you earn counts, so spend it on yourself, not people!

Wrapping up

Online shopping can be a thrilling experience. But if not done right, it can become a money pit. Try to monitor your shopping habits, identify spending patterns, and then curb your expenses. If you are spending emotionally on weekends, consider cutting back on those costs. If you consistently order takeout, try cooking more at home. These small habits can add up to significant savings over time. It may not buy you a house in this economy, but you can definitely put that money towards something more meaningful.