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is your spending script costing you?
 
The mantras that guide your shopping decisions may be hurting your bank account. Here’s how to silence that inner voice and put a stop to those unnecessary expenses. By MADELINE LIN
 
 

“IT’S CHEAP? I COULD LEARN TO LOVE IT.”
YOU BUY… a bargain item at a sale. You tend to be more impulsive at sales as you feel you can get more bang for your buck. “It’s an artificial environment where your mood is heightened, and you’re feeling tense and anxious,” cautions Daniel. This makes everything attractive, especially if there’s limited stock, and the reduced prices make it easier for you to justify buying it.

STOP IT NOW! Always go to a sale with a battle plan. Know what you need and head straight for it. Check out flyers or advertisements first so you have a better idea of what the sale’s about. Know how much sale items are going for, which will help you differentiate between what you need and what you want.


“I’VE HAD SUCH A BAD DAY. I NEED TO SHOP TO RELAX – BUT I’LL ONLY BUY CHEAP THINGS.”
YOU BUY… lots of cheap and useless things. “Shopping can bring pleasure and comfort when you’re down, making you feel better immediately,” Daniel says. But will you ever use them?

STOP IT NOW! Recognise your reasons for buying. Are you looking for a quick pick-me-up? There are other ways to feel better, like a quick workout or talking to a friend. If you really want to reward yourself, set long-term targets and save up for things you’ll love forever.


“BUYING IN BULK IS CHEAPER IN THE LONG RUN.”
YOU BUY… more in order to save money. Stores create perceived value by bundling items without really lowering the price. Daniel says they try to influence your spending by limiting your choices. For example, some things only come in bundles so you’re forced to get three boxes instead of one. And vegetables come in smaller packs so you buy two packs when you don’t need so much.

STOP IT NOW! Know your household needs. Cheaper items are available in bulk (eg buy two, get one free) or where you get more in one unit (eg a larger loaf of bread). It’s good to bulk buy if you know you can use it by the expiry date, if any.

 
TEXT MADELINE LIN ILLUSTRATIONS GROBI WHITE
 
 
 
 
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