Which of the following best defines an impulse purchase?

An impulse purchase is defined as an item bought without prior planning or consideration, which aligns perfectly with the chosen answer. This type of purchase often occurs spontaneously and is driven by emotions, desires, or immediate gratification rather than thoughtful deliberation. Individuals frequently find themselves in situations where they see something appealing and decide on the spot to buy it, bypassing their budgeting or purchasing guidelines.

In contrast, the other options reflect different purchasing behaviors. An item bought with a planned budget indicates forethought and alignment with financial goals. A necessary expense that was budgeted signifies a planned and deliberate allocation of funds for essential costs, while items bought as part of monthly fixed expenses involve predetermined financial commitments that do not allow for impulsivity. These choices highlight distinctions between intentional and unplanned spending, emphasizing that impulse purchases deviate from planned financial activities.