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Save Big with These Psychology-Backed Spending Hacks

Elizabeth Carter3 min read
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Save Big with These Psychology-Backed Spending Hacks — Lifestyle

It’s no coincidence that dietitians advise against shopping on an empty stomach: you end up tossing way more unhealthy snacks and extra calories into your cart. This well-documented fact proves that our mood and state of mind shape our spending habits. And there are even riskier mental states at play: impulse buying has been linked to depression, anxiety, and bipolar disorder.

So, what triggers impulse buys?

Usually, it’s clever marketing at work: that “now or never” feeling, the sense you’re getting more bang for your buck, or even panic that makes you stockpile. Sellers play on your emotions to get you to spend more, so there’s a psychological reason behind the financial splurge. You might feel empowered when you make a snap purchase, like you’re in control. And if you can afford impulse buys, there’s really no downside to treating yourself now and then.

But impulse buys aren’t just for those with extra cash—they happen to people who don’t have much to spend, too. Why? Because everyone craves a sense of control over their life. 

Eating disorders often work the same way. When someone feels their world is falling apart and out of control, they may realize they can fully control their eating. Deciding when, what, and how much to eat gives them power over themselves and their instincts, which can lead to long-term dependence or a real eating disorder.

It goes without saying that recent years haven’t helped us feel safe. The pandemic, climate change, and war have pushed more people into situations where compulsive and impulse buying are on the rise.

How to put a stop to impulse buying

Joyce Marter suggests four key steps to beat impulse buying:

Set a spending freeze

Marter recommends setting a spending freeze for a specific period. This can be 1 to 3 weeks and helps boost your financial awareness while saving you a lot. It’s not about buying nothing, but about avoiding unnecessary purchases.

During this time, avoid malls and clothing stores, and delete shopping apps that tempt you. Skip dining out and cafes—make as much as possible at home. Also, use cash instead of cards to better feel the impact of your spending.

This break from extra spending helps you notice your impulse buys and excesses, and builds healthier habits for the long run. 

Make a prevention plan

Notice the situations, places, or feelings that push you toward impulse buys. Can’t resist new clothes? Do app notifications lure you? Or do you automatically click ads on social media? Once you spot your triggers, create a new routine to break the cycle. Call a friend for advice, hit the gym instead of shopping, or reward yourself with something that doesn’t cost money. 

Practice mindfulness

Before spending, ask yourself these questions:

  1. “Do I really need this product?”
  2. “Does this purchase bring me closer to or further from my personal, professional, and financial goals?”
  3. “Is this spending aligned with my values and feelings?”

Try this for a few weeks and jot down what you notice about yourself! Did you put something back? Buy and regret it? It’s key to understand your feelings and how they connect to your shopping habits!

Get your emotions in check!

As mentioned earlier, mental and financial health are closely linked. In our instant-gratification culture, shopping often acts as a temporary “painkiller,” especially when mental health is shaky. The real fix isn’t just changing spending habits but correcting your thoughts and feelings. Sometimes, professional help is needed to address the root cause and truly overcome impulse buying.

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