Why Do We Impulse-Buy?
It is not an uncommon experience. You see a window-display that catches your attention with a sign that says “As much as 70% off only today.” Or, perhaps you don’t go out much and instead get an email that tells you to hurry up and order that specific item that pops up on your screen.
Either way, if you find the product appealing and the price inexpensive, the likely action that you would take would be to go ahead and make a purchase. Just some minutes ago, you did not have any plan on getting that item, but because you got distracted, you ended up spending. The cycle repeats itself unless you’re careful. Though it’s not totally bad to buy on impulse, it becomes a problem if you keep on doing it. To curb this tendency and prevent further unnecessary spending from happening, you should understand where this urge comes from and how to arrest it.
Love of shopping
You just simply love to shop. Most of the time, it’s not the product itself that gives you happiness, but the experience of shopping itself, coupled with the pleasurable feeling of possessing something new. You love it because you feel empowered that you have the means to own that product right here, right now.
The psychology behind it is that as children, we always get so fired up whenever our parents give or buy us something new. Now that we can afford to buy our own stuff, we feel mighty pleased whenever we snap up something for ourselves.
You don’t want to have regrets
As you are told that the store has only a few pieces left, you scramble for that remaining piece before another person beats you to it. While in some cases that may be true, you nonetheless fell for the marketing entrapment. The reason behind it is that you fear that you would be missing out on a good deal if you don’t act now. This mentality has already been sitting on your subconscious and that makes your impulse-buying more natural for you.
You want to save money
You want to make some savings when you buy a product, and so you feel lucky whenever you are able to take advantage of a discount being offered and the freebies that go with the purchase.
Manufacturers and retailers are experts when it comes to packaging their commodity that shopping addicts would find it hard to resist the temptation to buy now. But if you’d carefully think about it, the product that you’re getting may not be exactly what you need right now. Sure it is attractive and cheap, but do you really have use for it at the present time or in the future? If the answer is no, then you wasted money that you thought gave you savings in the first place.
Without you being aware of it, you’ve set up certain rules of thumb to justify your impulse-buying. As shopping takes time, effort, and demands your attention, you sometimes don’t see the need to go through all that and instead you do it the easy way. But to shop wisely, you have to train yourself to do a simple research on the product, compare prices, and get feedback and reviews to help you understand before deciding to buy it. Experienced retailers know how to capitalize on this by presenting their products in bundles or throwing in free extras.
Much like rationalizing, we all tend to be influenced by ideas that marketers and the internet bombard us with. We are led to believe that we can have that fantastic figure if we take advantage of that offer of a revolutionary exercise machine, when in fact, we’ve not lifted a finger to do anything to work on our muscles.
We get so impressed by testimonials that show us the before and after conditions that we try it out for ourselves in no time. But wait, there’s more – we tend to lose sight of the basic things that we need and how much money we can spare for unplanned spending. Shopping may bring you joy, but it’s not enough to justify your impulse buying.
Take time out to analyze your behavior, especially if you’re a shopaholic. It’s not an incurable condition, but if left unchecked, could spell disaster on the wallet.
More in Loans & Mortgages
Top 7 Things Not to Buy Online
These days, consumers have the convenience of staying at home and surfing the Internet to scout for items to buy, both...December 26, 2017
Three Motivational Speakers Who Are Also Super Rich
Did you know that the self-help industry is an $11 billion dollar strong industry? Yes, a lot of people read self-help...December 26, 2017
The Best Low-Cost Retirement Places in the World
You work hard today so you can just chill and enjoy the fruits of your labor on retirement. And what better...December 26, 2017
When Is It Okay Not To Be Perfect?
When can you tell if your work is “good enough” without being mediocre? Your work is a clear reflection of yourself....December 26, 2017
The Truth Behind Why You’re Not Saving Money
You Don’t Have Enough Cash In the Bank Because You’re Failing to Save Money Having the means to put food on...December 26, 2017
10 Celebrities Who Got Student Loans
Taking out a loan to finance one’s studies only shows how the person gives such value to education Getting a good...December 26, 2017
6 Tips to Relaunch Your Career after a Really Long Gap
Breathing new life into your career after a long recess is a difficult task to do. If you have this onus...December 26, 2017
The Five Most Common Mistakes People Make With Their Retirement Funds
What Are The 5 Common Mistakes People Make With Their Retirement Money? Working for years to build your retirement fund is...December 26, 2017
How to Get Out of Debt Without Filing For Bankruptcy
When you’re in debt and broke, the only thing that seems to be the only thing left to do is to...December 26, 2017