The Psychology of Spending

Our goals are often sacrificed to our desires. This week we talk about the power that spending can have on our lives and how it can derail our dreams for our future and our goals in general. Learn how shopping is used to squeeze happiness out of our lives which feel more and more out of control, and what we can do about it.

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Useful Resources:

Forbes article about how happiness being tied to being able to spend money: https://www.forbes.com/sites/traversmark/2020/01/21/why-showing-off-our-wealth-makes-us-happier-than-wed-like-to-admit/?sh=7c50f5c12c1b

2014 study from the Journal of Consumer Psychology on retail therapy: https://www.sciencedirect.com/science/article/abs/pii/S1057740813001149 

Ipsos Reid “ Understanding Retail Psychology to maximise conversions”: https://www.ipsos-retailperformance.com/en/insights/g-understanding-retail-psychology-maximize-conversions/#:~:text=Retail%20psychology%20is%20the%20study,to%20boost%20their%20own%20performance