BLOG – Why we’re buying things we don’t really need (2 minute read)

Last week I got chatting to a husband and wife on the train. She was reading my book!

He said that Pay Wave, Pay Pass, PayPal and all the other ways to pay, had got them caught up in overspending. She said they now realised they made a lot of unnecessary purchases.

So, why are we buying things we don’t really need?

  1. We’re not satisfied with what we already have and own. Never being satisfied is the biggest mistake we make. We’re never content and happy with what we already have. We can’t make do with what we already have and own. We feel deprived. So we go and buy more. We are constantly buying more but we’re never satisfied.
  2. We’re bored and lonely. Shopping and buying is our hobby and leisure activity. Shopping is our short term cure for boredom, loneliness, frustration and the lack of excitement in our life. We feel happy when we are shopping and spending money.
  3. We feel unprepared. We feel unprepared —unprepared if things break or need replacing. We don’t know how to fix, repair, repurpose or swap things. We don’t have the time, or the skills to find or make an alternative way to meet our needs, so we go and buy something new.
  4. We have no willpower. Like most people, we have no will power. We’re obsessing constantly about buying new things, going to the shops and having new things. We don’t have the willpower to resist temptation. Most men and women, don’t have the willpower to break the habit of just buying something when we want it.
  5. We love buying gifts. We love buying new things, gifts and presents for our children, families and friends. Social and peer pressures has made it ‘normal’ for us to give and receive lavish and expensive gifts and presents. Do you feel expected or obligated to buy people gifts?
  6. We have Fear of Missing Out. Is FOMO or Fear of missing out a big issue for you? Like most people you’re probably not prepared to miss out on a brand-new product, a reduced price on an item or a bargain. Is this true for you?
  7. We fear we’ll fail to meet our children’s needs. Our fear is that we’ll fail to meet our children’s needs. We impulse shop and overspend because we want our children to have new things and to have everything they want and need.

Is this true for you?
What do you think?

Until next time…

I’m Rachel Smith and I’m Underspent. I didn’t buy anything new or 2nd hand in 2014 and saved $52,680 (38% of my salary). I quit impulse shopping and saved my money. I changed my spending and transformed my savings. It started as a lifestyle experiment, but it changed my life, so I kept on going.

I’m the Author of Underspent and I’m teaching people like you how to break the habit of impulse shopping in 7 steps through my Underspent book, my weekly blog, FREE monthly challenges and FREE 30 days of money saving tips.

Underspent book is available in paperback ($12.99 or £7.40) and e-book, iBook and kindle formats ($2.99 or £1.70) in all online and high street/shopping centre book shops or buy a signed paperback copy ($12.99 + P&P) direct from me via my website ‪‪‪‪‪www.cyclingrachelsmith.com‬. I’ve purposely made the Underspent book affordable.‬‬‬‬

Photo credit – Family friendly HQ