Table of Contents Show
Sometimes a product in a store captures our attention so much that we can’t look away.
We desperately want to buy a pair of shoes, audio system, bicycle, crystal chandelier, brand new refrigerator, or anything else. However, we hesitate due to the risk that the item might go unused and it would be a shame to waste money.
The complexity of decision making makes it a multifaceted process, but we provide guidance on how to simplify it.
Why is it important to buy consciously?
People often make the common financial mistake of impulse buying when under the influence of a bad mood or emotions such as depression, boredom, anxiety, stress, and others. They shop to temporarily silence them and get a dose of dopamine.
But sometimes people become so afraid of spending that they avoid buying anything extra, even refusing small pleasures and necessities that they can easily afford.
We have compiled a few tips to assist you in sensibly approaching shopping and avoiding extremes.
TIP #1 – Check the rationality of the purchase
Personal finance experts advise asking yourself such questions to check if you really need certain purchases, making it easier to refuse them.
- Can I afford this purchase? Do I currently possess enough money to pay for it? Or do I need to take out a loan and repay it with interest? If the answer to the first two questions is no, and yes to the third question, it is advisable to avoid making the purchase, with few exceptions.
- Will this thing enhance the quality of my life and comfort level? Will it enable me to complete household chores quicker? Will it streamline the workload?
- Do my overall goals align with this purchase? For example, if you are saving for a home repair or paying off student loans, you may need to hold off on expensive but non-essential purchases.
- Am I getting the best price? Consider checking if the item you’re interested in is available at a lower cost, such as on an online marketplace. Additionally, see if you or any of your acquaintances have a discount card that can be used for it.
Analyzing the idea of buying something quickly becomes possible by answering these questions. However, emotions can overwhelm a person, causing them to respond subjectively or provide no answer. Several steps still need to be taken to ensure a crucial purchase without regretting it.
TIP #2 – Take a break
The basic mechanisms of the brain can cause people to make impulsive purchases. When presented with something new, such as a beautiful dress on an online store, our initial reaction is emotional and we immediately desire to obtain it. It is only after some time that the systems responsible for logical information processing and analysis in our brains become activated. This is when we realize that the dress material is not of good quality and not worth the money. However, logical thinking and analysis are complex and energy-consuming processes that take time for the brain to initiate.
Waiting at least 24 hours is worth it for those who try to minimize impulsive purchases. Typically, the desire to buy weakens or disappears after a day. If reasonable arguments exist in favor of purchasing and the risk is taken to complete the payment, it is unlikely that regret will be felt in the future.
Studying the product description is another way to activate the rational part of the brain. Online marketing specialists recently observed a pattern where users who did not spend much time reading information about products bought more frequently compared to those who perused product pages for extended periods. To activate the brain’s rational part, psychologist Liraz Margalit suggests studying new information.
TIP #3 – Determine Your Psychological State
Experts recommend this method for individuals who have tendencies to overeat, which is a form of impulsive behavior. When experiencing a strong urge to eat, they should inquire about their emotional state, whether it is hunger, anger, loneliness, or fatigue. If they identify that they are not hungry, but rather struggling with negative emotions, they should postpone eating and work on regulating their emotions instead.
Since negative emotions also trigger impulsive purchases, one can use this method in such cases.
Take a few deep and slow breaths to easily understand what is happening to you. Calm down and listen to your inner sensations. You may not always accurately name your condition, but you will understand if you feel psychologically unwell. Your brain may try to persuade you to buy something unnecessary in an attempt to fix it.
Fortunately, other activities besides shopping and food can stimulate the body to produce dopamine. The following are available to nearly everyone:
- Any kind of physical activity, such as a light jog or a walk outdoors;
- Socializing with friends and family;
- Watching a favorite TV series;
- Hugging loved ones.
TIP #4 – Don’t forget about marketing tricks.
Commercial platforms often utilize the features of the brain to stimulate visitors’ irresistible desire to purchase something. They implement various tactics to prompt people to take immediate action without hesitation. The following are some common techniques utilized:
- Short-term sales;
- False claims that the quantity of the product is limited;
- Notifications about how many users are currently viewing the product page alongside you.
These techniques typically evoke a powerful emotional response, inducing elevated anxiety levels and a stronger desire to acquire benefits. However, they impede a comprehensive analysis and understanding of whether a specific item is genuinely crucial. Consequently, stores see a surge in sales, and individuals amass needless items.
To reduce the frequency of such situations, remind yourself of these tricks and question whether you have fallen prey to any of them every time you consider making a purchase.
TIP #5 – Spend money on things that will bring long-lasting happiness
Limiting oneself in spending and investing in material possessions only can hinder one’s potential for joy and pleasure. For decades, scientists have researched which expenses truly bring people happiness and have found that they are usually non-material. Gadgets, clothes, and cars lose their emotional appeal faster than other purchases due to the phenomenon of hedonic adaptation. Essentially, we gradually become accustomed to whatever brought us initial elation and no longer derive excitement from possessing them.
But there are categories of expenses that are more resistant to hedonic adaptation. For example, everything related to travel and acquiring positive experiences, as well as personal development: workshops and courses, trips to concerts, exhibitions, and restaurants.
In some cases, small pleasures such as coffee on the way to work also contribute to our well-being. They play the role of a ritual that sets us up for work and adds positive emotions to our weekdays. To keep such expenses under control, it’s possible to set aside a certain amount for them each month and try not to exceed it.
Responses