It's a clinical fact: Shopping makes us happy. The anticipation of the search and the thrill of the purchase combine to increase dopamine, a neurotransmitter that allows us to feel pleasure and satisfaction, which causes a chemical reaction called a "shopper's high."
To cheer up during the pandemic, many people turned to retail therapy by way of online shopping in droves. In fact, online sales increased by 18% this year due in large part to the pandemic, which forced many to do their shopping mostly or even solely online.
It might feel good to see those boxes pile up on the doorstep at first, but when the credit card bill arrives, it's often another story. Here's some good news: A study in the Journal of Consumer Research says that people can also experience a similar pleasure by saving money, not just by spending it.
If you're ready to get happy and keep more of your hard-earned cash, here are seven ways to bust your online spending habit.
1. Upgrade to Paid Versions of Apps
Wait, how is this saving me money?" you might be thinking. But there is a method to this madness. Usually, the free versions of apps require you to watch ads and commercials, all of which beckon you to buy, buy, and buy some more. Provided it only costs a few bucks to upgrade to the premium version of that favorite game or app, you might find it money well spent to avoid shopping as you swipe and scroll aimlessly.
2. Turn Off Ad Targeting and Location Services
Ever find that Google and Facebook have an uncanny way of showing ads for products and services that you were just talking about? While Facebook has gone on record saying it does not listen to your conversations for ad targeting, the internet powers that be are tracking your consumer behavior in other ways.
If you have your location settings on, you'll get promos touting stores and services in your area. And if you've ever clicked on an ad for a product that interests you, you'll find five just like it will show up in your feed. You can limit ad tracking and turn off your location services in the privacy settings of your phone.
3. Unsubscribe to Retail Emails
If you're working from home, you might find you're checking your email more often. And you'll likely find your inbox is overflowing with emails flouting discounts and coupons for your favorite stores. In fact, some digital marketing experts say we're exposed to between 4,000-10,000 ads per day.
If you are trying to save money, click unsubscribe.
Use an app like Unroll.me to tame your inbox quickly. If you get sales texts sent to your phone, you can usually text back stop" to get taken off the list. (If not, add the caller to your blocked list.)
4. Remove Your Name from Mailing Lists
Even in the digital era, you might find that your actual mailbox is also getting filled up. While it's nice to receive something other than bills every so often, catalogs can take you down a shopping rabbit hole with their glossy photos of gorgeous models hawking the latest fashions and gadgets that you simply must have.
To avoid FOMO by post "anticipatory regret," as it's cited in research about the psychology of marketing and spending, sign up for a free account with the Direct Marketing Association and request to be taken off the catalog mailing list.
5. Ignore the Lure of Free Shipping
What's better than the convenience of shopping online? Getting it shipped to you for free, of course. With National Retail Federation research citing that nine out of 10 people are likely to choose a retailer based on convenience, it's no wonder many retailers waived shipping fees during the pandemic to attract customers. And while free shipping is definitely a perk, the problem is you have to hit that minimum purchase threshold to get it.
If you find that you are spending $50 more just to save a few bucks on shipping, it's time rethink your shopping habits.
Do you truly need those items, or are you just filling up the cart to satisfy the free shipping purchase requirement? If you don't, try filling up your cart little by little until you reach the minimum to save on shipping. Which brings up another good point
6. Don't Check Out So Soon
Sometimes, it's enough of a thrill just to put an item in the cart. If you find yourself filling up a cart aimlessly, do not complete the purchase. Instead, save your cart and check back in 24-48 hours. Chances are good that the items you thought you needed are actually just splurges.
To avoid reckless spending, designate one check-out day" per week where you go back and review all of your tentative purchases. You might be surprised to find out that you don't need many, or any, of them.
7. Limit Internet Access
It's hard to put down the phone or tablet, right? For so long, it's been the only way to stay in touch with our friends and family. But if you want to avoid late-night shopping sprees, limiting your online access is the only way to do it. If shutting down your phone for the night isn't an option, then set up screen time limits on your phone to lock up internet and social media apps past a certain hour.
Online shopping is convenient, and it can give us a temporary boost. But if you want to curtail your spending, try some of these tips to keep your bank account happy, too.
