‘While I’m here ...’: The four most expensive words in your budget

You stop at the grocery store for milk. Then you remember you’re almost out of coffee. The strawberries look good. You grab something for dinner tomorrow. And while you’re here, you might as well pick up that shampoo that’s on sale.

You came for a $7 item. You leave $65 poorer — or worse.

Welcome to what I call the “While I’m Here Tax” — the extra money we spend simply because we’ve already opened our wallets — and adding one more thing feels effortless. Individually, these purchases rarely look alarming. But suppose your “while I’m here” extras average just $15, three times a week. That’s $45 a week, or $2,340 a year.

Invested consistently over a working lifetime at seven per cent, that could compound to more than $500,00 — a reminder that small, unconsidered spending adds up faster than most of us realize.

The problem isn’t the $15. It’s that many of these purchases were never conscious decisions in the first place. Here’s how to start catching them.

Beware the permission effect

Once we’ve decided to spend money, adding another purchase can feel inconsequential. You’re already ordering takeout, so why not add dessert? You’re buying a new pair of jeans online, and another $40 gets you free shipping. You’re at Costco for toilet paper and suddenly that giant package of patio lights seems completely reasonable.

The original purchase effectively gives us permission to keep spending. Before adding an unplanned item, ask yourself: Would I make a separate trip — or place a separate order — specifically for this? You’ll immediately become conscious of what’s about to happen, and if the answer is no, you’ve probably found a “while I’m here” purchase that you can stop in its tracks.

Take a second lap

Retailers are exceptionally good at putting temptation in your path. Checkout aisles, “frequently bought together” suggestions, limited-time offers and strategically placed sale displays — online and in store — all make it easy to turn one purchase into five.

Instead of automatically saying no, create a speed bump. If you spot something you want, put it in your cart. Finish your shopping. Then take a second look before paying. Shopping online? Step away from the screen for at least two hours.

On that final lap, remove anything you didn’t intend to buy when you walked in. You can always decide it’s worth keeping — but now you’re actually making a decision.

Don’t confuse a deal with savings

This is where the While I’m Here Tax gets sneaky. Buy two and save. Spend another $25 for free shipping. Add a second item for 40 per cent off.

A discount can make an unplanned purchase feel financially responsible. But spending $40 to “save” $15 still means $40 is leaving your account.

Untangle the math. Ignore the amount you’re supposedly saving and look only at what you’re actually spending. Then ask: Would I buy this at this price if there were no sale sign?

Watch your high-risk stores

Most of us have a place where the While I’m Here Tax hits hardest — a grocery store, Walmart, Sephora, Amazon, Canadian Tire, Winners, the garden centre or even the convenience store when stopping for gas.

Figure out the stores that trigger your unplanned spending. Examine your last few visits. How much did you intend to spend versus what actually made it onto the bill?

Before your next visit, write down exactly what you’re there to buy. Everything on that list gets a free pass. Anything else gets the “while I’m here” test.

Give yourself a ‘While I’m Here’ budget

You don’t have to eliminate impulse spending altogether. Some unplanned purchases are useful. Some are delightful. And sometimes those strawberries really do look fantastic and will make your day.

Instead, decide how much room you want to give spontaneity. Give yourself $20 or $30 of “while I’m here” money each week. Spend it on whatever you want. Once it’s gone, it’s gone until next week. That’s very different from trying to become the person who never buys anything unexpectedly.

The goal isn’t to spend less simply for the sake of spending less. It’s to notice when spending stops being intentional. The next time you hear yourself think, “While I’m here, I might as well …”

Stop.

Those may be four of the most expensive words in your budget.

This article was originally published in The Star. Lesley-Anne Scorgie is a Toronto-based personal finance columnist and a freelance contributing columnist for the Star.