Struggling with impulse purchases? In this episode, we dive deep into the psychology of spending, a topic that’s not only fascinating but also central to our upcoming book. Jen and Jill explore the reasons behind impulse purchases and provide strategies to help combat them. We don’t just talk theory – trust us, this is a must-listen for anyone looking to improve their spending!
- Curators. All of them. Like the ones for art, wine, furniture, music, botanicals, wildlife, literature, oddities and the rest. Are they necessary? Probably not. Is it a dope job? Most likely. They’re the ones telling us whats worth our time and whats not. They drank the bad, looked at the weird art, got bit by the wildlife so we can drink the good stuff, still look at the weird art, but hopefully not get bit. And if a sommelier for your finances is exactly what you need, help US curate the content for you by taking our Biannual Mega Survey. It sounds important cuz it is, but don’t worry it’s not that long. Take the survey, get better content.
9 Psychological Reasons Behind Impulse Buying
Unplanned purchases can happen anytime, and this article helps explain the reasons behind people’s impulsive buying tendencies.
What Jen + Jill have to say:
Jill and Jen explore the psychological reasons behind impulse buying and provided effective solutions for each. The first reason discussed is emotional appeal, highlighting how emotions, both positive and negative, can drive impulsive purchases. Strategies involve identifying emotional triggers and creating alternative plans to cope with stress or celebrate without spending money.
The discussion also touches on instant gratification, utilitarian motives, and cognitive biases as contributors to impulsive buying. Practical solutions include creating dopamine hit lists, evaluating needs in three-month intervals, and being aware of cognitive biases.
Social influence, the desire for deals, and the impact of shopping environments are also explored, with suggestions ranging from redefining shopping as an activity to understanding sales cycles and applying the “trash test” to items in appealing displays.
In summary, the discussion emphasizes the importance of self-awareness, planning, and intentional consumption to help curb impulse buying behaviors.
Your most common impulse buy and steps you’re doing to fight the impulse
Jen’s most common impulse buy is food. She plans on eating out once a week but often exceeds to 2 or 3 times. Jill also struggles with impulse purchases on food, addressing it by taking inventory before shopping, meal planning, and allowing some flexibility in her spending plan for grocery items that catch her fancy.
Bill of The Week
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