Money Box Money Box Live: Impulse Spending and Debt
10 snips
Jan 7, 2026 
Dr. Pragya Agarwal, a behavior and data scientist, dives into the psychology of impulse buying, explaining how dopamine and present bias fuel our spending habits. Vikki Brownridge, CEO of StepChange, highlights the dangers of using credit for impulsive purchases, which can spiral into serious debt. They share real-life stories, including one mother's struggle with Buy Now Pay Later schemes. The duo discusses the impact of social media on Gen Z spending, practical tips to curb impulse buys, and the mental health implications of debt, offering insights on support options.
AI Snips
Chapters
Transcript
Episode notes
Present Bias Fuels Impulse Buys
- Human brains are wired for present bias, valuing immediate rewards over future benefits.
- Pragya Agarwal explains this drives the dopamine hit that fuels impulse purchases.
Store Design Tricks Your Brain
- Retailers use urgency and anchoring to make discounts feel compelling at the point of sale.
- Pragya Agarwal notes framing and product placement exploit cognitive biases to prompt quick buys.
Christmas Loan Led To Growing Debt
- Paige borrowed £1,000 impulsively for Christmas while on maternity pay and didn't calculate repayments.
- Her debt grew with buy now, pay later for essentials until she sought debt relief and advice.