4 Little Things That Secretly Makes You Spend More – Guest Post
4 Little Things That Secretly Makes You Spend More
“He who will not economize will have to agonize” ― Confucius
The most common problem that people face nowadays is their struggle with money. Most don’t have the ability to save their cash for the rainy days. Their logic? If you have money, why not spend it? That is not a bad idea unless you are a Gazillionaire.
But have you ever experienced that no matter how hard you try to save your money, there will always be a time that you get to spend more than usual? That you just suddenly began to wonder what just happened to that money?
However, that may not be entirely all your fault. Disregarding innate behaviors towards spending, researchers found the psychological tactics that can make even the most miserly person into buying more. The following are 4 subtle ways that urge to make you spend more than you should have.
1. Smartphones Can Urge You To Splurge
Study shows that you are more likely to spend a lot when you are shopping online using a handheld touchscreen compared to a desktop computer.
An investigation was conducted by monitoring whether online purchase intentions change customer behavior when choosing between hedonic and utilitarian goods. Hedonic goods are items or products that promote pleasure and gratification to consumers(i.e. chocolates, jewelry, etc.) while Utilitarian goods are products that are practical and useful to buyers.
Researchers had explained that the playful and fun nature of touchscreen devices encourages a hedonistic behavior towards purchasing items while desktop supports practical buying behavior. Therefore, whenever you have the urge to splurge, keep that smartphone far, far away from you.
2. Buying In Bulk Is Not Always The Answer To Save Money
It is always a treat to be able to avail buying items in bulk. It is, indeed, a nice thought that buying items in bulk will let you save some money and some trips to the market.
However, there are some secrets that buying in bulk will cost you more than you thought.
The More You Buy, The More You Consume
Bulk buying, especially on food, will make you want to consume more than usual which can affect your health or lifestyle.For example, beer. From a 6-pack beer that you drink for a week, you begin buying a 12-pack beer, because of the change of its standard size, this will result in consuming more beer a week.
Furthermore, the thought of more food in the house will give you the urge to eat more. So if you are on a diet or trying to control your food intake, avoid buying in bulk.
Keep An Eye On That Expiration Date
It is easy to get carried away when buying anything that’s in bulk. The price, the discount, the quantity are all shining, shimmering splendid.
But will it still be so when you can’t use them before they expire? It’ll be your obligation to use it all up before they reach the end of their shelf life. No matter how much you saved when buying them, that is still a waste of money and product if they just expire and had to be thrown away.
Individual Pieces Are Much Cheaper Than You Think
Although most bulk items are cheaper than buying it individually, there are certain goods that are much cheaper than buying in bulk and are much better buying them individually.
In the produce department, it is much cheaper to buy individual peppers and loose avocados than buying them in multi-packs or that are being placed together in mesh bags. Not only will you save money, you’ll also avoid overstocking on these products that have lower shelf life.
3. Prices Of The Things You Buy Can Play With Your Mind
Being frugal may mean that you are saving your money but it also means that you are hell bent on spending that money on a good deal and stuff that are worth it.
However, before believing that you’ve got a bargain or a steal, arm yourself with the knowledge about pricing strategies that can affect your choice of buying something.
How Does Anchor Pricing Work On You
Anchoring refers to the tendency where people rely on the first piece of information offered when making decisions.
Anchor pricing happens when a lower priced item is displayed next to a ridiculously high priced item. This gives the consumer the impression that by buying the lower priced item, they’ll get a better bargain. Using this strategy, establishments have a higher chance of selling an item and a higher chance for you to spend your money.
Subscriptions are one of the most common types of anchor pricing that can be found.
Watching Out For Psychological Pricing
Charm pricing. This is the most common yet the most effective pricing strategy that will entice you to spend money.
This is done by reducing the left digit by a cent. Therefore, the brain perceives $3.00 and $2.99 differently. The brain automatically interprets $2.99 as $2.00 and then concludes $3.00 vs. $2.00. This will end up you buying the product. This is the oldest and most used pricing strategy but it still works effectively on other people.
The best way to avoid spending on marketing strategies like this is to practice rounding off the prices with odd-numbered left digits.
4. Pay Attention To The Music You’re Listening To While Shopping
It’s always nice to be able to listen to music while shopping, right? The supermarket and shops are very considerate to be able to play music for their customers like that.
But what you didn’t know that playing music boosts both your mood and their sales? This is because humans have emotional responses to music. A research was conducted in 1982 and 1986 to supermarket shoppers and restaurant diners respectively.
The researcher found out that shoppers spend more time and money as well as diners spend more money and time eating when their background music was in a slow tempo compared to music with a fast tempo.
So just enjoy the music and don’t let it sway you to spend more if it does play those slow tunes or bring your own music and listen to fast and upbeat music instead.
The best way to save money is to economize, reuse available items and start living on a budget for your home, for yourself and for your future. However, bear in mind that really restricting yourself on an impossible budget isn’t as good as you think.
It is advisable to give yourself a break every now and then. A little treat for ice cream or a meal out in a restaurant can be a good way to congratulate yourself on making good progress with your budgeting habits. Just don’t go overboard though.
Author’s Bio: Kristine Ramos is an editor at scoopfed.com. She is self-proclaimed stingy and frugal yet always ends up broke in the end. She loves reading and writing. Her business-minded yet frugal parents influenced her while growing up and she learned how to manage simple business dealings and saving up money for her future when she was young. If she is not reading, writing or managing her Aunt’s store, she draws or plays video games. She mostly spends time with her pets or with a book in hand.