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!
There are gonna be a lot of lame answers, and you're gonna have to try a lot of things that don't work in order to find the things that do.
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Check out some relevant episodes
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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Thanks so Much for Listening!
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I wrote a review a couple of years ago and would like to update!
The Frugal Friends have shifted their tone to focus on grace, personal, financial, and environmental sustainability, and values-based spending. I love this approach and that the content is presented with levity and humor!
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