Reflecting on Your Buying Behavior
Book recommendation: Scarcity Brain: Fix Your Craving Mindset and Rewire Your Habits to Thrive with Enough by Michael Easter
The other day, while speaking to a friend, I mentioned my low spend challenge.
We started discussing how easy it is to purchase things, in the aspect of availability and convenience, and quite frankly, we have enough stuff.
My friend then said, “it is like an addiction”. Truly, I can absolutely see how that might be the case.
If you haven’t read the Scarcity Brain by Michael Easter, I recommend it. The book begins talking about how Vegas established their engineering for casinos and slot machines to keep us wanting more.
With how easy “add to cart” and quick delivery is, paired with social influence, stores nearby, and ads/marketing tailored to us, it is no wonder how in a sense it can be habit forming.
Fact: 80% of U.S. consumers expect free shipping, and 48% expect it within two days. Source: (NRF and McKinsey & Company)
In the book, "The Cheapskate Next Door: The Surprising Secrets of Americans Living Happily Below Their Means by Jeff Yeager”, Julia Thomson states: “One of the most useful ideas I was ever exposed to was the idea that the object we wish to purchase really represents a feeling we want to have.”
This sentence really resonated with me, because it got me to reflect on something I had been considering. Am I (or are we) buying out of necessity, true want, or impulse? Sure, it can be argued that many (if not most) "want" purchases are impulsive, but are we trying to avoid something, mask a feeling, or search for an emotion that the purchase might provide?
Fact: Studies show that up to 40% of U.S. consumers make impulse purchases when shopping online, particularly when browsing on mobile devices. This is because of limited-time offers and user-friendly check-out experiences.
Source: Harvard Business Review and National Retail Federation (NRF)
I never want to shame anyone for how they choose to spend their money. Rather, I hope to encourage myself—and others—to slow down, sit with what we might be feeling or noticing in our buying behavior, and ask ourselves:
Can I find enjoyment elsewhere?
Do my purchases align with my values?
You work hard for your money.
You deserve to spend on things that truly matter to you and bring you joy.
See more insight via my Instagram: @spend_lesswithjess
