Here’s how to trick your brain to spend less
The tips have been provided by John Naish, the author of Enough: Breaking Free From The World Of More, published by Hodder & Stoughton.india Updated: Sep 29, 2008 13:06 IST
Can’t figure why your brain is conned to spend, spend, spend? Well, the possibility is that, while shopping the mind gets ‘out of control’ and it becomes hard to restrain retail urges. However, if you want to take control of the buying instincts, then here are a few tips.
The tips have been provided by John Naish, the author of Enough: Breaking Free From The World Of More, published by Hodder & Stoughton.
According to TimesOnline, a person can kid his or her instinct into spending less. Here’s how:
Give yourself and your purse a break
Pausing briefly between choosing something and taking it for trial can dramatically boost the chance of cash staying in your purse, says a study to be published in December’s Journal of Consumer Research.
Don’t even look at your credit cards
Credit cards might not only anaesthetise retail pain, they may create a physical craving to get the dopamine high from spending, says Professor Drazen Prelec, a psychologist at the Massachusetts Institute of Technology.
Keep brands out of your brain
Designer brands have proved unprecedentedly effective at persuading you to spend more money on ‘special’ goods that are actually only of average quality. Brands are painstakingly developed to encourage people to identify with them, to believe that their favourite labels have exactly the same human values as they do. So stay miles away from them.
Don’t shop with friends
People spend more money to maintain their self-image in front of others.
Staying calm costs less
People are more liable to go on a spree when financially squeezed: under stress, they can feel driven to hoard, says a study of students in Behavioural Research Therapy.