Spending too much money? Tempted by sales? These ways to ‘hack’ your psychology can help

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Based on psychology, here are three tips to improve the way you spend your hard-earned cash this holiday season. 👛

After the purchase – stop chasing rainbows

A fundamental feature of human beings is that we are adaptive – we easily get used to the new normal. This applies to our purchases, too. Scientists call it “Remember the day you got your smartphone? You may have felt joy as you caressed the smooth aluminium back and watched light glint off the unblemished glass. Now look at your phone.

The second problem with hedonic adaptation is that the obvious solution appears to be buying something new. Maybe you need a new smartphone to replace your slightly scratched-up old one? If this is your thinking, you’ve just hopped onto the Now the only way to maintain your happiness is to spend more and more money to get better and better versions of everything.

 

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