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You're Spending Over $300K on Impulse Buys

Money Matters

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A survey of 2,000 Americans about impulse spending, and found that respondents spend an average of $450 every month and that adds up to $5,400 annually, or $324,000 over the course of their lifetime, deal sharing platform Slickdeals reports.

According to the respondents, one in five purchases are purchased impulsively. The top purchases are on food and groceries, clothing, household items, takeout and shoes.

The majority of impulse spending happens in the store or restaurant.

Three in four Americans buy the candy at the register before they checkout. 32 percent impulsively buy food after passing a nearby restaurant. One in four Americans buy a pair of shoes when they see them in the store.

Why We Impulse Buy

People tend to impulse buy more when they're happy and excited as opposed to sad or stressed. More importantly, the majority of impulse buys tend to be for oneself, with 54 percent of impulse buys meant for yourself.

The main reason for impulse purchases is because of the deals on that product. 64 percent reported that they shop impulsively if there's a deal.

In fact, 40 percent went out and bought something because of a coupon in the mail and 33 percent bought something after receiving a coupon in their email inbox. 21 percent reported that they tend to impulse buy while being online.

In a world of increasing availability of coupons, discounts, and deals, it can be difficult and time consuming to figure out if you're getting the absolute best deal.

Slickdeals is an online deal community, where 10 million users interact to share the most up-to-date information on online shopping deals and coupons. Find out more at www.slickdeals.net.