Money

8 Times When You Really Should Not Go Shopping

You are more likely to overspend if you do.
01/31/2018 06:45am ET
ferlistockphoto via Getty Images
Screenshot

This is why hotels get away with charging $7 for a bag of chips in the mini bar: The room is already costing you $250 a night, and it feels proportionate. Don’t fall in that trap. That chip bag would cost $1 in the convenience store across the street.

When you buy a house, the same circumstances exist. You just shelled out a bundle, so you’ve become inured to big spending and you overspend on furniture.

Tip: When you buy a house, create a budget for how you intend to furnish it.

8. When you aren’t mindful.

Whether you just blow through your budget on one ill-advised night or you suspect you may have a shopping addiction, it’s best to stay mindful about purchases.

“Shopping is a metaphor,” Benson said. “It’s a way we look at ourselves and our place in the world.”

Studies have shown that people who shop for ideas and experiences are happier than those who shop for goods and services. The thrill of purchasing things fades quickly, but the joy and memories of experiences last a lifetime.

“After all,” she added, “you can never get enough of what you don’t really need.”

Tip: When you have that experience, take photos to remind you of it. It’s much cheaper than a T-shirt.

Suggest a correction