What is the psychology of spending more than we planned

Have you ever wondered why we as humans, as a person, even if financially literate tend to spend more than we planned? Yes, that universal phenomenon where our wallets scream "stop," but our shopping carts keep going.

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Now lets take a look at the hilariously frustrating reasons why we tend to overspend in grocery stores, supermarkets, boutiques, malls, and restaurants and find it difficult to not swipe those credit cards in these locations shall we

Here are some reasons 👇

The Sneaky Sale Signs:
You walk into a store, and there it is – a sign screaming "SALE: 50% OFF!" How can you resist, right? But here's the twist: the items on sale are usually the ones you didn't need in the first place. It's like the store is saying, "Hey, we know you came for milk, but how about a complimentary clothing for your cat at half the price?"

Yeah, we have all been there, a situation where you bought something on sale that we never used. Nobody is alone in this.

On the list again is 👇

The Aromatic Ambush in Restaurants
You enter a restaurant, and instantly, the smell of sizzling steaks, onions, and garlic wafts over you. Suddenly, your stomach decides the budget doesn't matter, and you order the most expensive thing on the menu. Your wallet weeps quietly in your pocket. The reason for this? Well, we humans, like any other animal are driven by the primal instinct to feed, we have just learned to tame that instinct, but in this case, we submit to the power of the Restaurants Aromatic Ambush.

The Boutique's "Must-Have" Item
Boutiques are the masters of making you feel like you need something you never knew existed. You walk in to buy a pair of socks and leave with a feathered boa and a top hat, wondering how you got there, no wonder we walk into a boutique for something small and walked out with a whole new wardrobe. Welcome to the club!

The Grocery Store's Seductive Layout
Grocery stores are like mazes designed by financial wizards. They put the essentials at the back so you have to pass aisles of temptation to get there. And don't get me started on those strategically placed candy bars at the checkout. It's like they know you've been dieting for a week. Yeah and let's not forget at the moment we go to the grocery store for milk and ended up with a cart full of snacks, ice cream, and impulse buys?

The Mall's Never-Ending Sales
Malls are like a vortex of spending. You go in for a single shirt, and before you know it, you're leaving with bags from seven different stores, each one promising a "limited-time" discount. Frankly its almost impossible to go the mall with a specific purchase in mind and not end up with a haul of things you didn't need.

So, why do we do it?
Is it the thrill of the hunt? The joy of the unexpected? Or are we all secretly addicted to shopping therapy? Whatever it is, remember that we're in this together. The next time you find yourself spending more than planned, just blame it on those sneaky sale signs, the aroma of a restaurant's kitchen, the tempting boutique layout, the grocery store's cunning placement, or the endless sales at the mall.

And, in the spirit of financial oneness, We've all got those "I can't believe I bought this" tales that make us laugh and cringe at the same time. So, keep your wallets closed, your impulses in check because, in the end, if we don't watch our spending, our spending might end up watching us.

Thanks for reading, Sayonara 🖐️

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Resources used

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• https://www.cnbc.com/select/psychological-habits-that-actually-cause-you-to-spend-more-money/

• https://money.usnews.com/money/personal-finance/spending/articles/inside-the-psychology-of-overspending-and-how-to-stop

• https://www.linkedin.com/pulse/psychology-spending-money-debt-com

• https://www.rivermarkcu.org/blog/savings-strategies/the-new-psychology-of-spending

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Credit

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