You probably think that you’re in control of your spending. But, your brain is constantly working to make you spend money and it’s a crafty little devil.
I’ve been researching this topic for years now, and I’ve come up with a list of 20 common ways that we get ourselves to spend more money than we intended while shopping. Check out these tricks below:
| Takeaways |
|---|
| – Our brains are influenced by various psychological tricks that encourage spending. |
| – Understanding cognitive biases and human behavior is crucial for effective marketing. |
| – Neuromarketing techniques can tap into subconscious triggers to drive consumer decisions. |
| – Creating a sense of urgency, trust, and emotional connection can impact purchasing behavior. |
| – Ethical considerations should guide the use of mind tricks to ensure customer well-being. |
You’re More Likely To Spend More On Credit Than You Would With Cash
It’s easy to see why this is so, but it’s also important to understand the reasoning behind it. Credit cards allow us to buy things without having the money in our bank accounts right away. And it turns out that we’re really good at spending money that isn’t really ours yet:
Studies show we’re less likely than ever before to pay off our credit card bills on time, which can add up to a lot of interest payments over the years.
If you want an extra boost of willpower when shopping for holiday gifts (or anything else), try paying with cash instead it won’t be as easy for your brain to convince itself that there’s no harm done by splurging just this once!
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Taking Your Kids Along With You While Shopping Often Leads To Higher Costs
When you’re shopping with children, it’s easy to get distracted by how cute they are and lose track of the cost of your purchases. You might not be aware that children are often more expensive than you think.
For starters, they require quite a lot of food: diapers, formula and baby food all cost money. And then there’s clothing children grow out of their clothes very quickly! Since many parents also want their kids to look nice (and not like dirty hobos), this can add up quickly.
In addition to food and clothing costs, bringing kids along when shopping can mean paying for entertainment or transportation if you don’t have a car seat in the cart already.
You Won’t Buy As Much When You Have To Carry It
A study from the University of California, Berkeley found that participants bought fewer snacks when they had to carry them.
The researchers theorize that “transportation costs” that is, the physical effort it takes to move things around increased awareness of the cost of products and their value as well as their size.
In other words, carrying something makes you think more about its true size and weight in your hands than if you were just walking down an aisle with something sitting on a shelf in front of you.
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You’ll Spend More When You’re Shopping For Others
You’ve probably noticed that when you go out to buy a gift for someone else, it can be hard to stick to your budget. This is because part of the reason we make purchases in the first place is that we want to impress other people and make them happy.
When you’re shopping for gifts, you may be more likely to buy something expensive or fancy if there’s a chance that person will like it or even just think well of you for giving them such an awesome present.
You’ll Spend Less If You Focus On The Price Per Unit Instead Of The Total Price
There are many ways to trick yourself into spending more money. The most common methods involve increasing the number of options available to you, or making a decision seems less important. However, there’s a different way to get your brain working against you:
Focusing On The Price Per Unit Instead Of The Total Price
Surprisingly, you’ll spend less if you focus on the price per unit instead of the total price!
In one study, those who chose between two identical sets of pencils one priced at $49 and another at $100 were much more likely to choose the less expensive option than those who were shown both prices at once (i.e., $49 or $100).
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New Is Often Better Than Old, Even If It Isn’t
We all have a common desire to be the first one to have something new. It’s a great feeling when you can say, “I’ve got this!”
But if you aren’t careful, this desire for novelty can lead to purchases that don’t improve your life. There are several mental tricks your brain uses to make you spend money on things you don’t need or even want and they’re all based on the fact that we overvalue newness.
When it comes to our shopping habits, consider these key factors:
- New things are often more expensive than old things (even if they’re not).
- New products are often more appealing than old ones (even if they aren’t).
- New products are always more popular than older versions (even if they aren’t).
- Finally, there’s an underlying assumption that newness always equals better quality (again… not always true!).
The Marketing Term “Limited” Makes People Want To Buy More
If a product is labeled “limited,” your brain will subconsciously be more likely to buy it. The marketing term “limited” makes people want to buy more. It’s called the fear of missing out (FOMO), and it’s a powerful psychological phenomenon that drives consumer behavior.
There are two ways limitations can work their magic:
The idea is that if you don’t buy now, you’ll have to pay more later on eBay or Craigslist to get it.
For example, when the iPhone came out after years of anticipation, many people were willing to stand in line at midnight without knowing what they were getting just because they didn’t want someone else getting their hands on one first.
They were willing to pay hundreds of dollars for an item that could be bought elsewhere at any time for $199, simply because there was no guarantee that anyone would still have them available tomorrow or next week or next year when they might finally decide they wanted one themselves!
The idea is that if you buy now instead of later when supplies run out then everyone else will think less of you for not being able to get something so cool and coveted by everyone else around them.”
Sounds And Music In Stores May Entice People To Buy More Things
As you walk through the mall or shop online, you might notice that music is playing. It could be in the background at a store or cafe, or it could be right in your face.
If you’re like most people, this kind of music will make you feel a certain way and those feelings can influence your buying decisions!
Music can make people feel happy and relaxed (think: soft rock), sad and depressed (think: slow ballad), energetic and excited (think: upbeat pop song), like dancing (think: club music), or like singing along (think: lyrics-heavy love song).
The right kind of music can even encourage us to buy more stuff! That’s because we tend to associate specific songs with certain emotions and when we feel those emotions again at some point down the road, we’ll want something that reminds us of them.
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Expensive Items May Make People Want To Buy Other Cheap Things
When it comes to expensive items, your brain is wired to make you feel like you’re getting a good deal.
When a product is marked down or discounted, people are more likely to buy it. This works in reverse as well: if the price of an item goes up, we’re less likely to purchase it.
The same applies when comparing products if one thing costs $35 and another cost $40, people may be more inclined to select the cheaper option because they feel like they’re getting a better deal! In reality though.
These two products are priced identically at $40 each (the difference being how much money is perceived as “being saved”).
More Expensive Food Tastes Better Than Cheaper Food, Even When It’s Not Better Quality
You may have noticed that when you go out to eat, the more expensive a dish is, the better it tastes.
And if you’re anything like me, when I’m eating out at a restaurant and someone says “dessert?” you’d better say yes even if it’s 9 p.m., because there’s no way you’re not getting dessert. Why did we decide that more expensive food tastes better?
In our brain’s defense, this happens for two reasons: firstly, because we associate price with quality; and secondly, because we associate taste with rewards (i.e., yum).
When something is priced higher than other options on an itemized menu (or even compared to similar items), we assume there must be some additional value even if that value isn’t necessarily related to taste or enjoyment!
People Like Getting Gifts And Will Spend More Money To Get One
People like getting gifts and will spend more money to get one. This is because people see the act of giving a gift as an opportunity to feel good about themselves.
If you’ve ever given someone a gift and seen their reaction, you know what I mean: it’s almost impossible not to be happy when another person gets excited about something you’ve given them even if it’s just a little token like a keychain or candy bar.
So how does this apply to our spending habits? Well, let’s say there’s something that catches your eye at the store. You want it but don’t need it but if you buy this thing now, well…that could be considered an investment! It would make a great gift later on!
Or maybe your friend likes this item too; why not treat yourself and buy both of these things together? And hey you deserve it after all those hours spent working overtime last week…
People Don’t Like Losing Out On Something They Had Before, Even If They Aren’t Using It Anymore (I.E., FOMO)
The next time you’re shopping at the mall, look around and notice how many people have a wallet in their back pocket.
That’s because wallets are a prime example of FOMO in action many people are afraid that if they don’t buy a new one right now, they’ll miss out on other opportunities to buy something just as nice later.
When this happens, your brain is telling you that you’re making a good decision by spending money now, because it feels like you’re getting more value out of this purchase than others would get from theirs!
But really…you aren’t. The only thing going on here is FOMO and its ability to trick us into thinking we’re getting a good deal when we aren’t.
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A Sale Makes It Seem Like A Good Time To Buy Even A Product That Isn’t Normally Expensive
The brain likes to have a sense of control and order. That’s why when you’re at a store and you see a sale, your brain says “Buy now!” even if the product wasn’t expensive in the first place.
You are more likely to buy something if it is on sale than if it isn’t on sale (even though it was never expensive).
The same rule applies for buying in bulk; if you buy six items instead of five and get one free, your brain thinks that’s worth paying extra for because now there are even more discounts!
When People Feel Responsible For Someone Else, They Make Spend More Money On Them (I.E., Mom Guilt)
When you feel obligated to spend money on someone else, you’re less able to say no. This is especially true if you’re responsible for caring for that person.
For example, when a mom is shopping with her kids and they want something, she feels guilty about saying no because she wants to be a good mom and make her children happy.
The same thing happens when people feel obligated to spend more on their parents or other family members because they believe that the family matters most in life.
What’s more, the feeling of responsibility for another person can cause us to value their needs more than our own!
For example: When someone asks if we want fries with our burger at McDonald’s, we might say yes without thinking twice about it because we don’t want them (the employee) thinking badly of us even though deep down inside we know that eating greasy food isn’t necessarily healthy or good for us!
Clearance Items Make People Want To Buy Them Even When They Don’t Need Them Or Want Them Anymore Because It Seems Like A Good Deal
Clearance items are often the same brand as other items in the store. The reason is that people will associate a brand with quality, even if they don’t know anything about it.
The fact that someone was willing to sell their stuff for less than full price makes you think it’s worth less than what it costs at full price, so you’re more likely to buy something that looks like it’s on sale when it isn’t.
They’re usually located near the front of the store, not in some back corner where no one can see them! This is why clearance racks are so successful: because they’re easy for customers to find and access without much effort (unlike online shopping).
Plus, once things have been marked down by 50% or more off (or even 75% off!), they become even more irresistible because they seem like such great deals!
Conclusion
You’ve been exposed to some of the mind tricks that your brain uses to convince you to spend more money than you would otherwise.
The next time you’re out shopping and find yourself spending more than planned, remember what we covered here today. And if these tricks don’t work on you anymore? Try tricking yourself instead!
Further Reading
Nine Psychological Tricks to Quietly Make More Money: Explore strategies to subtly enhance your income by understanding the psychology of decision-making.
5 Surprising Ways to Trick Your Brain Into Spending Less: Discover unexpected techniques to outsmart your brain and save money effectively.
5 Proven Mind Tricks to Make Money Dropshipping: Dive into proven mental tactics that can boost success in the world of dropshipping.
FAQs
How can psychological tricks be used to increase earnings?
Using psychological insights to influence consumer behavior and decision-making can lead to increased earnings by tapping into subconscious triggers.
What are some surprising methods to control spending habits?
Surprising methods, like altering shopping environments and employing self-imposed rules, can trick the brain into making more mindful spending choices.
How do psychological tricks apply to dropshipping?
Psychological tricks can impact dropshipping success by enhancing product presentation, creating a sense of urgency, and fostering trust with potential customers.
Can understanding brain behavior help in financial decision-making?
Absolutely, understanding brain responses and cognitive biases can inform better financial decision-making by recognizing and managing emotional impulses.
Are there ethical considerations when using mind tricks for financial gain?
Yes, ethical considerations are important. It’s crucial to ensure that the techniques employed respect customers’ autonomy and well-being, avoiding manipulation.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.