Mental Health Tips for Smarter Shopping This Holiday Season

"Enticing as it may be, it is crucial to understand that holiday shopping deals can be disastrous for many who are pathological spenders. Aside from the financial harm it can cause, compulsive buyers are also at risk of developing relationship problems and serious mental health conditions such as depression and anxiety.

Here are two things that make us succumb to the flaws in our rationality and coax us into spending more around the holidays.

1. Overexposure and ego depletion

A classic study published in the Journal of Personality and Social Psychology found that when people are exposed to a certain idea or item repeatedly, their attitude towards it becomes more favorable. This is called exposure bias, or the mere exposure effect.

The holiday shopping season also promotes what psychologists call ego depletion. This is a state of suggestibility that we find ourselves in when we are exposed to too much information. In an ego-depleted state, our ability to make conscious, well-thought-out purchases suffers. We tend to follow the path of least resistance, which often means we end up spending on expensive things that are marketed as ‘‘the best.’’

A good way to protect yourself from exposure bias and ego depletion is to ask yourself what would happen if you didn’t buy the product being advertised.

• Is your quality of life going to take a hit?
• What are some things you could do with the money you save from not making the purchase?
• Is there a cheaper alternative you could find that works as well as the product being advertised?
• Is there a more opportune time to buy the product?
• Would it be okay to buy just one product instead of the eight you currently have in your shopping cart?

2. The bandwagon effect

The bandwagon effect is a phenomenon that occurs when people are more likely to do or believe something simply because others are doing it. This desire to conform to societal norms is deeply ingrained in human nature; it’s part of what allows us to function as a unified society.

One study published in Current Issues in Personality Psychology found that people were more likely to buy luxury items and proudly display their logos if they saw ads that featured celebrities endorsing them. Another study found that the fear of missing out (FOMO) was also a significant factor in people’s purchasing decisions.

Here are some things you can do to avoid being carried away by the holiday shopping bandwagon:

• Take your time with purchasing decisions. Try to avoid making purchasing decisions when you are exhausted, overwhelmed, or in a state of uncertainty. Take 24 hours, and come back to it once you have made an informed decision.
• Make a pros and cons list. Sometimes, writing out why a product is right or wrong for you can give you new insights into what you actually require.
• Examine the origin of the bandwagon effect for a particular product. If a product genuinely adds value to people’s lives, you will see it for yourself."

Read the complete article available at Psychology Today!

Reflection:

Do you struggle with 'pathological spending'?

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