Exploring the urge to acquire

1 Sept 2021

Have you ever felt an inexplicable craving to go shopping and buy stuff? Or had the urge to buy something impulsively when you are shopping?  Both Bec and Tara have - and this week we chat about why it's such a human thing to do, and how to understand and possibly prevent it from happening to an unhelpful extent.

Show Notes:

“Impulse purchasing” is buying something/ anything which you hadn’t planned on - it’s unintentional.

It can come at any time:
- when you’re shopping for something else planned
- when you’re bored
- when you’re attention is grabbed while doing something else
- when your emotions give you the craving - possibly no tangible or noticeable trigger

Who gets it?
- Both men and women.
Dave Ramsay article stated (link below) : The average American spends $2196 on impulse buys each year and 23% men, 16% women admit to spending over $100 on their last impulse buy.

How does it feel?
- Often feel exciting in the moment- spontaneous, fun, possibly even risky
- Usually feels bad later on, overspent, acquired something you don't need or even want any more (buyers remorse)

Are there any particular triggers? What could cause the urge?
- Emotions
- Bad day
- Past experience
- Personal money stories/ experience
- Feeling of getting a good deal
- Marketing tactics
- The urge to improve your life.

Is there a way to fight it?

- Budgeting - if it isn't in the budget you cant buy it
- Create rules around how long you’ll delay the purchase if it costs a certain amount (wait a week if it’s over $20, a month if it’s over $100)
- Shop with a list
- Add items to a wish list
- Recognise emotions and avoid shopping at that time
- Unsubscribe from emails that tempt you
- Don't go shopping ‘as a hobby’ or as a way to ‘kill time’
- Gratitude: Remember how much you already have.
- Take only the amount of cash you need
- Shop with a friend/ partner and ask them to keep you accountable
- Keep your savings goals in mind
- Find ways to improve your life without shopping. Declutter, get some fresh air, meditate. These are all proven long-term self-care activities that can be swapped for shopping.

Reference links