3 tips to avoid overspending online


Online shopping is becoming more and more popular in Canada by the year. According to Statistics Canada, retail e-commerce accounted for 2.9% of total retail sales in 2018, compared to 2.6% in 2017.

Why is it so popular?

Because you can find whatever you’re looking for in just a few clicks! But online shopping is booming for a number of other reasons, as well. You benefit from:

  • access to information that lets you compare before you buy
  • round-the-clock accessibility
  • an almost infinite number of products to choose from
  • targeted and relevant marketing

The increasingly rapid evolution of technology is no doubt one of the factors contributing to the rise in e-commerce. Thanks to powerful search engines, tablets and smartphones, as well as the arrival of apps that make online shopping even easier, e-commerce is more popular than ever.

Here are some tips to help you reflect before you buy and not end up with more than you need:

Avoid saving your payment information online

Saving your credit card information on all the sites you’ve already bought from may seem convenient, but it also sets you up for impulse purchases. Your best bet is to erase all your personal details that merchant sites often store, including your payment and login information.

Unsubscribe from store mailing lists

One of the biggest incentives to buy online vs in-store is probably the limited-time offers your favourite retailers send you in their newsletters. By unsubscribing from their mailing lists, you’ll be less tempted to jump on a deal for a product that you wouldn’t otherwise get.

Bookmark it and come back to it

An even more effective way to avoid impulse buying is to get into the habit of bookmarking the item or service you’re interested in. That way, you can come back to it in a week or a month if you’re still thinking about it. Chances are you won’t be.

To avoid overspending online and accumulating debt, a little self-control goes a long way. Keep in mind that most stores let you return items within a certain time. And these days, returning items you bought online is easier than ever.

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