When shoppers are in a crowded store, they feel out of control, which can lead to them spending more money. Also, a lot of people end up overspending when they go shopping with their friends because they want to keep up with them.
Instead, try to buy what you need during the time when malls are almost empty, and preferably do it alone.
Plus, lack of sleep also affects both mood and judgment. So getting a good night's rest can actually improve your decision-making and that emotional impulse-spending.
For items over a set amount, give it a one- or two-day waiting period before pulling the trigger. With online shopping, you can put the items in your virtual shopping cart but avoid checking out immediately.
It's easy to get sucked into a "shopping high," making the decision-making parts of your brain less rational.
If you consider your finances to be a source of stress, be especially cautious when you're spending, since your emotions may further cloud your judgment.
While many people associate shopping lists with groceries, this can also help keep your spending in check when buying holiday gifts or back-to-school supplies.
Of course, it's okay to buy things you want as well as things you need, as long as you make the purchases mindfully.
Making a list ahead of time can help avoid impulse purchases and future buyer's remorse. This is because creating the list forces you to really think about what you actually need.
Before putting an item into your (real or virtual) cart, do a quick online search to see whether the item is available elsewhere for a lower price.
Sources: (Forbes) (Vox) (Reader's Digest)
See also: 30 ways to help you shop smarter
Sure, it's exciting to get something on a discount. But remember: the point of store promotions is to get customers to spend more money.
According to a study published in the Journal of Marketing, slow-paced music can make shoppers slow down as they roam through the store, leading them to spend more money.
Instead, listening to tunes with a fast tempo via headphones can help you get in and out of the store quickly, without overspending.
Retailers use a special strategy called scent marketing to trick shoppers into spending more money. Some popular scents include bergamot, vanilla, and white tea.
On top of that, stores desperately want you to use a credit card because they know you'll spend more if you do.
Chomping on mint-flavored candy or chewing gum can overwhelm the surrounding aromas, and help you avoid any impulsive buys.
Research shows people are willing to spend more money with cards than with cash. When you pay with cash, you see the amount of money spent. However, paying with a card makes it harder to track your expenses.
To minimize this effect, you should walk away from a potential purchase and come back the next day to see if you still want it. This will eliminate the novelty of the situation, and you'll make a more clear-headed decision. The same goes for online shopping.
The very act of shopping triggers the pleasure centers of your brain. As dopamine flows through your synapses, a shopper's high can take over your mind, making you buy things you don't need or even want.
One is that they're often skilled sellers. But people often unconsciously feel, after a point, that they don't want to let down a sales person who has helped them.
The truth is many people feel like they need to buy something for all the legwork they've put in, i.e. they need to reward themselves.
Yes, they're quite friendly. But the more you interact with them, the more likely you're to purchase from them, for several reasons.
Sometimes you just need to take a step back. Prevent an impulse purchase by taking a mindful break before you whip out the credit card.
Sit down somewhere outside the shop and ask yourself: "Why am I here? How do I feel? Do I need this? What if I wait? How will I pay for it? Where will I put it?" Then, decide if you're really going to make the purchase.
The more stores you visit, the more you'll buy. A lot of people tell themselves they're comparison-shopping, but that will often not happen.
Do you prefer to keep crispy, new cash, or wilted, dirty, old bills? According to a study in the Journal of Consumer Research, you'd probably pick the first.
Participants in the study were willing to spend more money when they had old bills than when they had newer ones. Go figure!
The problem with carrying items around with you is that they begin to feel like yours. You get used to them, and you feel a little "pain" if you have to put them back.
We actually hate pain and loss more than we love pleasure and gain. Hence, items that get carried around are more likely to be bought. So leave them on the rack until you decide.
Whether you need to spend less when shopping or you want to be a more conscious spender, it helps to have a few tricks under your belt. But it's not all your fault! Manufacturers and sellers study us carefully to trigger our desire to buy. They understand how the human brain works, and then use this to get you to part with your money. However, there are several very effective tricks to beat them at their game and feel more in control.
Click on for some tips that will help you enjoy shopping without ending the day with a spending hangover.
Clever tricks to save money while shopping
Become a mindful shopper with these tips
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Whether you need to spend less when shopping or you want to be a more conscious spender, it helps to have a few tricks under your belt. But it's not all your fault! Manufacturers and sellers study us carefully to trigger our desire to buy. They understand how the human brain works, and then use this to get you to part with your money. However, there are several very effective tricks to beat them at their game and feel more in control.
Click on for some tips that will help you enjoy shopping without ending the day with a spending hangover.