Common Reasons Why We Succumb to Impulse Buying

There are psychological reasons why people buy impulsively. The first is because we associate happiness with shopping. When we shop, something clicks in our head and this becomes like a reward for a bad day. It makes us feel good inside so most of us chase that feeling.

Another reason is because of what is known as “loss aversion”. There is a general idea that we might feel bad if we pass up the opportunity to shop and most of us don’t like dealing with those feelings. We don’t like being confronted with the “what ifs” and “should’ve dones”. Additionally, when we see discounts or buy-one-take-one promotional offers, we buy impulsively because we think there is a lot of value to these offers even though we are actually spending more money.

If you have a tendency to buy impulsively, it’s a good idea to talk to a Financial Advisor in Vancouver to know what you can do to control these impulses. A financial advisor in Vancouver from Chalten Fee-Only Advisors LTD will give you sound advice on how to control impulse buying.

Keeping track of how much you are spending on these impulse purchases can actually bring you back to reality. When confronted with a big loss, especially financial ones, because of things that do not really have value, you will be motivated to minimize impulse buying.

Setting aside a specific budget for shopping and sticking with that budget can also help. A financial advisor can help you get started in budgeting.

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