These apps could prompt impromptu spending
‘Delete them or do not download them’ Focus on basics and essentials
By Courtney Jespersen
While some apps help you save money, others have a way of encouraging you to spend more.
Changing how you connect with these types of apps by deleting them, not downloading them in the first place or limiting your interaction with them can help you rein in your spending. Subscription-based apps Many subscription services and boxes have corresponding apps. And you may feel inclined to sign up for a subscription if you can easily manage your membership from an app.
But automatic subscriptions are dangerous because consumers tend to continue using (and paying for) them, as opposed to canceling when they’re done, says Susan Weinschenk, a behavioral scientist and CEO of The Team W, a consulting company.
“If it requires action to make it stop, then we’re less likely to actually take that action and make it stop,” Weinschenk says. “We all fall prey to inertia.”
To save, stay away from subscriptions and their corresponding apps in the first place. Or, use apps to fight apps. For example, Weinschenk suggests setting up alerts to remind you when a free trial is expiring – before you’re charged. You can also set up twice yearly alerts as a reminder to review all of your ongoing subscriptions, streaming services and so forth. Shopping apps Deals make people feel good. When consumer psychologist Kit Yarrow interviewed shoppers about how they feel when getting a good bargain, they’ve likened it to coming in first in a race or getting a raise at their job.
“There’s just a winning feeling,” says Yarrow, who is also the author of “Decoding the New Consumer Mind: How and Why We Shop and Buy”.
Deal-centric apps, such as those for certain stores, bring those feel-good bargains straight to you via your smartphone. But tempting sale notifications can encourage more shopping, which may mean it’s better to delete those retail apps altogether.
Or at least turn off the app’s alerts, advises Weinschenk. That way, you aren’t constantly flooded with push notifications about sales.
Another strategy? Weinschenk said she’s downloaded a store’s app, redeemed a coupon offer and then uninstalled the app just as easily as she installed it.
But if you’re disciplined, you can keep the apps, says Casey Taylor, a partner in Bain & Company’s retail practice. Take advantage of the savings within shopping apps, but also monitor how much you’re spending