For people who get happy when they save money what they need to do is start a spreadsheet of the things they did not buy. Every time you think of buying something and don’t you add it to the list. Then you can see day after day, month after month, how much you really saved. It will be a much larger savings. You will get that high and you are reinforcing the good behavior of not spending instead of it feeling like a punishment.
I really blame the pandemic and social media for these problems. I've also noticed that stuff isn't high quality anymore due to increased demand... It's really unfortunate. I feel guilty because my style has recently changed due to no longer being influenced since getting off of TikTok. I had to revamp my wardrobe. But I donated the old clothing and purchased used annnnd also ethically made/recycled clothing. It was a bit more expensive buying the ethically made - but it should last me far longer.. but I can definitely say I'm getting tired of this consumerist society and the effects it has on the planet. And my wallet has taken a massive hit in the last few years. I'm grateful for what I have, but it's time to pump the brakes on spending. At this rate, I will never afford a home. I'm also exhausted from working just to blow it all on things I don't necessarily need.
yes, i totally hear you about the feeling of working so hard only to blow that money on stuff you don't necessarily remember in a year or even in a few months. I don't think it's a bad thing that you've rebuilt your wardrobe! I hope your new pieces bring you some joy and contentment 💕
American here, I went out for toothpaste today and came back with leather combat boots (I paid $10 and the sticker price was $129, you are definitely right about that dopamine hit). I don't think that American department stores are able to sell their expensive wares at the tagged price, we can't afford to play that game anymore. I wrestled with the question "are combat boots my style?" but landed on "they are leather boots and will likely last for years because of the thick sole; for $10 make combat boots your style" and so I will.
If they are truly good boots, that is true. But sometimes looks can be deceiving. Be wary of fake "durable aesthetics" or things that look substantial but maybe are constructed cheaply with bad glue or thin treats threads.
I’m only half-way through this video, so maybe you will discuss this later, but for me, there is a distinction between impulse spending and spontaneous spending in some cases. As someone who thrifts the vast majority of my possessions, I always have a running list of things I am passively looking for. It’s rare that I can just go to a thrift store and find exactly what I want the first time I go. So, if I am out and about and I wasn’t planning on buying anything that day, but I see a perfect item that is on that to-buy list, then I buy it. The timing of the purchase was spontaneous, but since it was something I had already decided I wanted to buy by putting it on my list, it wasn’t really an impulse purchase
I also have a list literally called the “To buy list” for this exact purpose, things I’m keeping an eye out for and if I find the perfect one while I’m out one day (or even am advertised one) then I’ll buy it if it’s exactly what I’ve been looking for. Most of my purchases first sit on the to buy list for sometimes even a good 6 months until one day it’s on sale and i “spontaneously” buy it even if that wasn’t what I planned to buy when I went out shopping that day. Definitely agree there is a distinction there. Something I do if I’m out and see something cute that wasn’t on my list, I will take a picture of it, and if I keep going back to the picture for months and keep thinking about it and believe it to benefit me.. then I’ll purchase it or add it to the to buy list
this is actually a good point. It's hard to tell if those terms were being used interchangeably but we can still think about it as it applies to our own lives (as you mention).
@@jasminetoth625 Yep! This is pretty much exactly what I do too. Items are required to be on the list for AT LEAST a week before I buy them, but most things stay on there much longer
@@shawnaripari Yeah, I really want to know how they define these terms for their studies and how they gathered this data. We can only have a clear picture of what the data is telling us if we know what exactly it was measuring and how. I very much appreciated your insight even if I wish the data itself was more transparent
On a slightly different topic, impulse spending and overconsumption is so evident by the number and size of thrift stores and Goodwills in my area. I went a very large Thrift City with my daughter and it's just mind blowing how many tshirts alone are in that store!! What happens to all these tees that aren't purchased?!! I remember when my kids played sports and it's unreal how many tees and jerseys my kids had that they didn't want to keep. One mom made a tshirt for every girl on my daughter's volleyball team for every game!!
I have been using impulse spending as a way to cope with unhappiness in other parts of my life. That dopamine hit is real! And I agree with that quote you showed, once it becomes a habit it is very hard to break. Thank you for the video, it has been two weeks since I bought anything. Sounds ridiculous but is great for me, and hopefully the start of something better!
I have just been thinking /talking these last few weeks how I have been feeling blah for ages and few people told me they feel the same and that loads of people feel that way. I'm sure this has really increased a lot since the pandemic and I guess many factors go into that. Overspending and impulse spending probably add to that? And there is still I feel psychological effects of the pandemic felt today. You know I don't remember the last economic crisis 13 odd years ago really feeling the same way... It wasn't a picnic but I think these last years really have been a massive struggle for people and it feels for many like things aren't looking up, climates also going bonk. A lot of it still comes down to how we deal with things and I'm sure there are things we can do for ourselves to break out of the negativity or pessimism. We're reaching for the wrong things to make us feel better. I guess humanity needs a contentment year 😅😅
you're right it's a struggling time for a lot of people and the news is certainly bleak. Inflation and rising prices, my province is in the middle of a housing crisis, a lot of North America is in a housing affordability crisis, the climate crisis, you add those things to people's everyday issues and I can very much see the pessimism or needing outlets more than ever.
Kind of off topic a bit, but that 2 for $5 deal is usually a scam. Well, scam isn't the right word. A trick. Very, very rarely do you need to buy BOTH. You can buy 1 for $2.50...but a lot of people don't know that and instead get tricked into buying 2. At least in the states. I had a store worker share that with me years back and have been grateful wver since!
That being said, sometimes I find I can save money if I buy a larger bottle of a product I regularly use and know I will finish. For instance a bottle of .6 oz of differin cost $15, but a bottle of 1.6 oz cost $30. I bought the bigger bottle only because I already know I like and use the product and will finish it. I see this as intentional spending not impulse spending.
once i started reading the signs about how much each item is individually and how much you 'save' I began laughing. Ah yes... let me get those 3/$9 to save 10c lovely. I am passionate about that bread deal because it's one of the few that are actually a deal 😂 and I like the bread
yes! the rise of the subscription services over the last decade are a little wild! I was looking into a product to talk about on the channel and it was a "custom" habit book or something. In order to get that book for less than $90 you had to subscribe to something....why?
One of the things I'm proud of is that I recently thought I should replace my rain jacket (the one I've had for the past three years is no longer waterproof). I tried on a jacket that was on sale (for like 50% off too), for which the sale ended that day. I liked the jacket, but thought about it some more and decided to wait. Well, it rained a few days later, I wore my old rain jacket and I was like, "Ok, no, I really do NEED to replace this." I knew the jacket would no longer be on sale, but I went back to the store to get it, at full price, which I was willing to pay. Well, they had a new sale (old one was specific to the brand, new one was for all rain jackets), and I got it for 55% off. Knowing I was prepared to buy it at full price, but got it at an even bigger sale felt like a tiny win.
Love your videos! ❤🤗 These stats were very interesting, especially the last bit about overall impulse spending decreasing this year thus far. I think this demonstrates an interesting piece of information through the lens of economics- people’s price sensitivity per item category. For instance, people will always need food, so they’re not going to make many sacrifices in that area and may feel more comfortable rationalizing an impulse buy because they are consumable items. It’s easier for someone to argue why any food/drink is practical/necessary, even if they wouldn’t normally buy that item, because a consumable will always be put to use (eaten/drank), and it will eventually get used up and need to be replaced, so it’s easy for people to view most things in this category as being useful and therefore worth the inflated cost.
Well done! You can easily do this thrifting too. I have been in a thrift store where they were blowing out tshirts for1.00, I was so tempted buy 10 of them, but I held back. How many tshirts do I need no matter how cheap they are?
For people who get happy when they save money what they need to do is start a spreadsheet of the things they did not buy. Every time you think of buying something and don’t you add it to the list. Then you can see day after day, month after month, how much you really saved. It will be a much larger savings. You will get that high and you are reinforcing the good behavior of not spending instead of it feeling like a punishment.
i love these lists because it can be a real high ! Thanks for sharing
I really blame the pandemic and social media for these problems. I've also noticed that stuff isn't high quality anymore due to increased demand... It's really unfortunate. I feel guilty because my style has recently changed due to no longer being influenced since getting off of TikTok. I had to revamp my wardrobe. But I donated the old clothing and purchased used annnnd also ethically made/recycled clothing. It was a bit more expensive buying the ethically made - but it should last me far longer.. but I can definitely say I'm getting tired of this consumerist society and the effects it has on the planet. And my wallet has taken a massive hit in the last few years. I'm grateful for what I have, but it's time to pump the brakes on spending. At this rate, I will never afford a home. I'm also exhausted from working just to blow it all on things I don't necessarily need.
yes, i totally hear you about the feeling of working so hard only to blow that money on stuff you don't necessarily remember in a year or even in a few months. I don't think it's a bad thing that you've rebuilt your wardrobe! I hope your new pieces bring you some joy and contentment 💕
American here, I went out for toothpaste today and came back with leather combat boots (I paid $10 and the sticker price was $129, you are definitely right about that dopamine hit). I don't think that American department stores are able to sell their expensive wares at the tagged price, we can't afford to play that game anymore. I wrestled with the question "are combat boots my style?" but landed on "they are leather boots and will likely last for years because of the thick sole; for $10 make combat boots your style" and so I will.
If they are truly good boots, that is true. But sometimes looks can be deceiving. Be wary of fake "durable aesthetics" or things that look substantial but maybe are constructed cheaply with bad glue or thin treats threads.
I’m only half-way through this video, so maybe you will discuss this later, but for me, there is a distinction between impulse spending and spontaneous spending in some cases. As someone who thrifts the vast majority of my possessions, I always have a running list of things I am passively looking for. It’s rare that I can just go to a thrift store and find exactly what I want the first time I go. So, if I am out and about and I wasn’t planning on buying anything that day, but I see a perfect item that is on that to-buy list, then I buy it. The timing of the purchase was spontaneous, but since it was something I had already decided I wanted to buy by putting it on my list, it wasn’t really an impulse purchase
I also have a list literally called the “To buy list” for this exact purpose, things I’m keeping an eye out for and if I find the perfect one while I’m out one day (or even am advertised one) then I’ll buy it if it’s exactly what I’ve been looking for.
Most of my purchases first sit on the to buy list for sometimes even a good 6 months until one day it’s on sale and i “spontaneously” buy it even if that wasn’t what I planned to buy when I went out shopping that day.
Definitely agree there is a distinction there.
Something I do if I’m out and see something cute that wasn’t on my list, I will take a picture of it, and if I keep going back to the picture for months and keep thinking about it and believe it to benefit me.. then I’ll purchase it or add it to the to buy list
this is actually a good point. It's hard to tell if those terms were being used interchangeably but we can still think about it as it applies to our own lives (as you mention).
@@jasminetoth625 Yep! This is pretty much exactly what I do too. Items are required to be on the list for AT LEAST a week before I buy them, but most things stay on there much longer
@@shawnaripari Yeah, I really want to know how they define these terms for their studies and how they gathered this data. We can only have a clear picture of what the data is telling us if we know what exactly it was measuring and how. I very much appreciated your insight even if I wish the data itself was more transparent
It's definitely a cost of living for a lot. Jobs aren't paying more, but inflation happened. That's a big problem.
On a slightly different topic, impulse spending and overconsumption is so evident by the number and size of thrift stores and Goodwills in my area. I went a very large Thrift City with my daughter and it's just mind blowing how many tshirts alone are in that store!! What happens to all these tees that aren't purchased?!! I remember when my kids played sports and it's unreal how many tees and jerseys my kids had that they didn't want to keep. One mom made a tshirt for every girl on my daughter's volleyball team for every game!!
I have been using impulse spending as a way to cope with unhappiness in other parts of my life. That dopamine hit is real! And I agree with that quote you showed, once it becomes a habit it is very hard to break. Thank you for the video, it has been two weeks since I bought anything. Sounds ridiculous but is great for me, and hopefully the start of something better!
so proud of you!
I have just been thinking /talking these last few weeks how I have been feeling blah for ages and few people told me they feel the same and that loads of people feel that way. I'm sure this has really increased a lot since the pandemic and I guess many factors go into that. Overspending and impulse spending probably add to that? And there is still I feel psychological effects of the pandemic felt today. You know I don't remember the last economic crisis 13 odd years ago really feeling the same way... It wasn't a picnic but I think these last years really have been a massive struggle for people and it feels for many like things aren't looking up, climates also going bonk. A lot of it still comes down to how we deal with things and I'm sure there are things we can do for ourselves to break out of the negativity or pessimism. We're reaching for the wrong things to make us feel better. I guess humanity needs a contentment year 😅😅
you're right it's a struggling time for a lot of people and the news is certainly bleak. Inflation and rising prices, my province is in the middle of a housing crisis, a lot of North America is in a housing affordability crisis, the climate crisis, you add those things to people's everyday issues and I can very much see the pessimism or needing outlets more than ever.
Kind of off topic a bit, but that 2 for $5 deal is usually a scam. Well, scam isn't the right word. A trick. Very, very rarely do you need to buy BOTH. You can buy 1 for $2.50...but a lot of people don't know that and instead get tricked into buying 2. At least in the states. I had a store worker share that with me years back and have been grateful wver since!
So true!!!
That being said, sometimes I find I can save money if I buy a larger bottle of a product I regularly use and know I will finish. For instance a bottle of .6 oz of differin cost $15, but a bottle of 1.6 oz cost $30. I bought the bigger bottle only because I already know I like and use the product and will finish it. I see this as intentional spending not impulse spending.
once i started reading the signs about how much each item is individually and how much you 'save' I began laughing. Ah yes... let me get those 3/$9 to save 10c lovely. I am passionate about that bread deal because it's one of the few that are actually a deal 😂 and I like the bread
On principle I always ignore “BOGO” deals. They are very rarely actually deals when you do the math
We don't even have these 3 for 2 deals in Germany.
You look absolutely stunning in this video! Wow! Absolutely glowing
thank you 💗
Excellent video/stats. I think that the “subscription” purchases to save MORE add to this consumption.
yes! the rise of the subscription services over the last decade are a little wild! I was looking into a product to talk about on the channel and it was a "custom" habit book or something. In order to get that book for less than $90 you had to subscribe to something....why?
One of the things I'm proud of is that I recently thought I should replace my rain jacket (the one I've had for the past three years is no longer waterproof). I tried on a jacket that was on sale (for like 50% off too), for which the sale ended that day. I liked the jacket, but thought about it some more and decided to wait. Well, it rained a few days later, I wore my old rain jacket and I was like, "Ok, no, I really do NEED to replace this." I knew the jacket would no longer be on sale, but I went back to the store to get it, at full price, which I was willing to pay. Well, they had a new sale (old one was specific to the brand, new one was for all rain jackets), and I got it for 55% off. Knowing I was prepared to buy it at full price, but got it at an even bigger sale felt like a tiny win.
very interesting content! long overdue to talk about these issues!
"people's lives are now ad" WAOW👏🏽
Love your videos! ❤🤗 These stats were very interesting, especially the last bit about overall impulse spending decreasing this year thus far. I think this demonstrates an interesting piece of information through the lens of economics- people’s price sensitivity per item category. For instance, people will always need food, so they’re not going to make many sacrifices in that area and may feel more comfortable rationalizing an impulse buy because they are consumable items. It’s easier for someone to argue why any food/drink is practical/necessary, even if they wouldn’t normally buy that item, because a consumable will always be put to use (eaten/drank), and it will eventually get used up and need to be replaced, so it’s easy for people to view most things in this category as being useful and therefore worth the inflated cost.
this is actually a great point!
Well done! You can easily do this thrifting too. I have been in a thrift store where they were blowing out tshirts for1.00, I was so tempted buy 10 of them, but I held back. How many tshirts do I need no matter how cheap they are?
absolutely, you can overconsume on any budget
So true
I disagree on your assessment of why impulse buyers are less happy. I think you have it backwards: depressed people do shit to make them feel better.