5 Ways to Master Your Amazon Spending

Do you spend too much money on Amazon? It’s easy to do! Inspired by my recent work with a client, I decided to write a blog post on controlling your Amazon spending.

The lure of Amazon’s vast inventory, convenience and speedy delivery can be compelling. But without diligent tracking, the seemingly innocent clicks can build up, leading to potential overspending. If you feel your expenditures on Amazon are veering off course, you can regain control. This discussion offers practical guidance to help you balance the convenience of Amazon with sound financial habits.

The Magnetism of Amazon Shopping

Boasting a staggering array of more than 12 million products in the U.S. alone, Amazon transforms our shopping experience by bringing global storefronts into our living rooms. Add to this, the ease of 1-Click ordering and free Prime shipping, and it becomes apparent why spending can easily get out of hand.

Harnessing the power of online shopping requires us to be mindful and intentional. Minimize impulsive shopping decisions by taking steps to closely monitor your spending. Here are some strategies you can use to better control your Amazon spending:

1. Know What You’re Spending

An effective first step is revisiting your monthly Amazon expenditure by analyzing your statements or transaction history. If you’re finding it difficult to see how much you have spent on Amazon, the best way is by looking at your transaction history. Simply navigate to “your account” and scroll down to the bottom to find a link to “your transactions.” The insights might take you by surprise.

Understanding where your funds are going provides a firm foundation for implementing spending changes.

2. Curb Impulse Buying

Consider implementing measures to reduce impulsive buying habits. Generally, making it more difficult or increasing the amount of time it takes to buy something can reduce impulse buying tendencies. This is because of the way human psychology works. Impulse buying springs from our desire for instant gratification. More time gives our rational brain more time to kick in and evaluate our purchases.

One solution is to add things to your wish list and come back later to buy them. If that doesn’t work for you, you could delete the Amazon app from your phone, thus establishing a minor roadblock that requires you to pause and reflect on each purchase. Turning off Amazon’s 1-Click ordering on your account can also create a crucial moment for contemplation before confirming your order. Another method would be to delete your credit card information from Amazon. This would make it more difficult to make purchases and it would require more time to do so.

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