According to research from Stanford University, more than one in 20 adults are compulsive shoppers, buying objects they don’t need, use, or even want. That’s because shopping, once devoted to gaining necessities, has come to fill a lot of emotional needs-it’s entertainment, a bonding activity, a sport, a way of self-expression, and, quite often, a means of comfort.
Using brain scans, researchers have shown that the nucleus accumbens, an area associated with pleasure and reward, lights up as people consider a purchase, while the insula, a structure that plays an essential role in pain, is initiated when they think about the cost. The two brain areas compete with each other to determine whether you will purchase something.
Buying a lot in one store could minimize your sensitivity to the pain of cost. You hit the what-the-heck effect: You’ve spent $200; what’s another $20 for a T-shirt? Try shopping in various stores for different purchases.
A retail plan we should be aware of, is purchasing an item for $29.99 because we tend to discount it to $20 instead of $30. The anticipation of getting a good deal is what drives us toward the cash register, not the object itself-and as a result, we end up with stuff we don’t particularly want. If paying for goods causes pain in the brain, credit cards are aspirin. Unfortunately, cards also create bigger headaches later on. Using cash is the number one antidote to overspending, according to experts. If you do pay with a credit card, beware of the trap I’ve already got this debt, so it won’t matter if I pile on more.
The mall has been blamed for killing America’s main streets, stealing business away from mom-and-pop shops. But now malls themselves may be on the endangered list. But with so many of us now depending on these places to socialize, de-stress, even exercise, what can we do when the local mall is shuttered?
When you see a range of prices, it’s as if you were coming from a dimly lit room into a bright one; at first you’re not used to the light, but you adjust fast. We don’t think about how what money is worth to us; we just make a relative decision. If you’re deciding on an item that comes in numerous models, give yourself a time limit. When you are down to the final two options, toss a coin, and while it’s in midair, try to feel how you want it to fall-that’s your answer.
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